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September 16, 2016  Fri 7:47 AM CT

OMF: SEE CHART GET CHAIN FIND STRATEGIES

Traders are looking for the uptrend in OneMain Holdings to continue.

optionMONSTER's market scanner shows that 2,400 November 32 calls were purchased for $2.15 at the same second yesterday. This is clearly a new position, as open interest in the strike was a mere 3 contracts before the trade appeared.

Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction. (See our Education section)

OMF rose 4.93 percent to $30.86 yesterday and is up 19 percent in the last three months. The lending and insurance firm is expected to release quarterly results after the close on Nov. 3.

Overall option volume was 43 times greater than average in the name yesterday. Calls outnumbered puts by a bullish 122-to-1 ratio.

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