Bulls Go Shopping Again at Staples

Staples saw upside option activity last week, and yesterday the bulls came back for more.

optionMONSTER’s tracking programs detected the purchase of 10,000 January 13 calls for $0.35 and the sale of 10,000 January 9 puts for $0.30. Volume was far above the previous interest in each strike, which indicates that new positions were opened.

This combination trade is highly bullish, as a rally will boost the value of the long calls while lowering the price of the puts that were sold. The strategy could provide significant upside leverage, but the trader will be on the hook to buy shares if they fall below $9.

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