Learn the trade here. Make it on tradeMONSTER

Options Trading News

October 7, 2013  Mon 11:07 AM CT

FLT: SEE CHART GET CHAIN FIND STRATEGIES
A trader sees limited upside in fuel-card company FleetCor Technologies as shares trade just off their highs.

optionMONSTER systems detected the sale of 4,962 October 120 calls for the bid price of $0.10 on a wide bid/ask spread. The previous open interest was just 210 contracts, so this is clearly a new position.

These calls could have been sold naked with an initial bearish bias. But they were more likely traded against long shares in a covered-call position, which would be bullish up to the $120 strike price. (See our Education section)

FLT is down 0.44 percent to $111.55. The stock has more than doubled in the last year from $45 and reached a high of $113.68 last week.

More than 5,000 FLT options have traded, compared to the daily average of just 338 over the last month. 
Share this article with your friends


Premium Services

Free Webinars

Swing Trading w/ Jon Najarian and Ron Ianieri

Education & Strategy

Make your rules, and stick by them!

New traders often act on the recommendations of others or on gut feel. But that is a quick way to...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER