Market News

November 22, 2016  Tue 9:24 AM CT

Traders are looking for MetLife to rally in the first half of next year.

OptionMonster's market scanner shows that 2,500 June 60 calls were purchased for $2.10 to $2.15 today. This represents fresh buying, as volume was well above the strike's open interest of 673 contracts.

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)

MET is up 0.15 percent to $54.86 in morning trading and is up 35 percent in the last three months. The life insurer reported bullish results on Nov. 2 and is expected to announce its next quarterly numbers after the close on Feb. 1.

Calls outnumber puts in the name by a bullish 12-to-1 ratio so far today.

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