InterOil bull sees more upside

InterOil has been rebounding, and one investor thinks the gains will intensify.

optionMONSTER’s Heat Seeker monitoring program detected the purchase of 2,000 June 62.50 calls for $3.59 and the sale of 1,000 June 62.50 calls for $7.58. Volume was below open interest at the lower strike, which indicates an existing position was closed and rolled higher.

Long calls lock in the price where a stock can be bought, letting investors cheaply control moves to the upside. Capital can also be moved from one contract to another as a rally unfolds.

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— Option Monster

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