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January 14, 2013  Mon 9:40 AM CT

CBS: SEE CHART GET CHAIN FIND STRATEGIES
The bulls refuse to change the channel on CBS.

For the third time in four sessions, optionMONSTER's Heat Seeker monitoring program is detecting unusual call activity as the New York-based broadcaster pushes to multi-year highs.

Today's activity focuses on the February 40s, where more than 36,000 contracts have traded, mostly for $0.85. Total volume is almost 9 times the previous open interest at the strike, clearly indicating new activity.

Those long calls lock in the price where investors can buy CBS shares, so they can generate significant leverage in the event of a continued rally. Heat Seeker also showed bullish activity in the February 39s on Wednesday, followed by the February 40s the next day. (See our Education section)

CBS fell 0.49 percent to $38.38 in morning trading, and is up 14 percent in the last three months. The stock is currently trading near levels last seen in mid-2001.

Total option volume is 9 times greater than average in the name so far today, according to Heat Seeker. Calls outnumber puts by a bullish 61-to-1 ratio.
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