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June 27, 2013  Thu 3:47 AM CT

CNQR: SEE CHART GET CHAIN FIND STRATEGIES
One trader is betting that Concur Technologies will rally near all-time highs in the next two months.

optionMONSTER's Heat Seeker system shows that 1,600 August 80 calls were bought for $3.80 to $4 in the final hour of yesterday's session. This is clearly a new position, as open interest in the strike was just 609 contracts before the trade appeared.

These long calls, which lock in the purchase price for the stock, are looking for CNQR to gain roughly 5.5 percent or more by mid-August. The options could be sold earlier at a profit if the premiums rise with a rally before then, but the contracts will expire worthless if shares remain below the $80 strike price. (See our Education section)

Shares of Concur, which provides cloud-based management of travel billing and expenses for companies, rose 2.29 percent yesterday to close at $79.52. CNQR surged to a lifetime high of $84.86 after earnings results in early May but had been trending lower until bouncing at $77 on Monday, and the stock is now back above its 50-day moving average.

Total option volume in the name was more than 16 times its daily average for the last month. Calls outnumbered puts by 8 to 1, a reflection of the bullish sentiment.
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Options Academy: Ron's Risk Calculation--A Real Life Example

It is rare that I get a chance to give a real-life, real-time example in my articles that the readers were not only following but were actually involved in at the time the event is happening. Well, that is where we are right now in our QQQ trade from last week. Let's recap the trade itself.

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