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December 22, 2016  Thu 10:52 AM CT

Traders are taking profits as Fairmount Santrol pushes to new highs.

OptionMonster's monitoring systems detected the sale of 3,500 February 12.50 calls for $0.40. Volume was more than 7 times open interest at the strike, which indicates new money was put to work.

Short calls generate income and fix the price where a stock must be sold. (See our Education section.) The strategy is usually done in conjunction with long shares, reflecting a belief upside will be limited through expiration.

FMSA rose 1.42 percent to $10.68 in morning trading and is up 37 percent in the last three months. The provider of fracking sand beat estimates on Nov. 3 and drew bullish call buying earlier this month. The next set of numbers are estimated for pre-market hours on March 9.

Overall option volume was 4 times greater than average.

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