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July 24, 2013  Wed 11:29 AM CT

F: SEE CHART GET CHAIN FIND STRATEGIES
Ford reported strong earnings this morning, and one large trader is looking for more gains in the next few months.

More than 25,000 each of the September 17 and November 18 calls have traded, according to optionMONSTER's Heat Seeker system. Volume was below open interest in the nearer-term strike, indicating that a position was being rolled forward.

optionMONSTER systems detected the sale of September 17 calls for $0.92 and the purchase of November 18 calls for $0.75. The trader is taking some money off the table while buying another two months to position for more upside. (See our Education section)

F is up 3.28 percent to $17.50 this afternoon, trading at its highest level since January 2011. The auto maker's stock has about doubled from the low of a year ago.

More than 206,000 F options have traded, compared to a daily average of fewer than 50,000 in the last month.
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