Market News

January 6, 2017  Fri 8:14 AM CT

Traders are looking for Lowe's to rally in the next two weeks.

Our market scanners show that about 4,500 January 73 calls were purchased for $0.43 to $0.47 yesterday. Volume was more than 29 times the strike's open interest, indicating that new positions were established.

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)

LOW fell 1.03 percent to $71.07 yesterday and is down 1 percent in the last three months. The home-improvement retailer, which missed earnings and revenue estimates on Nov. 16, is scheduled to report its next quarterly results in pre-market hours on March 1.

Overall option volume was about average in LOW yesterday.

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