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September 22, 2016  Thu 9:26 AM CT

FEYE: SEE CHART GET CHAIN FIND STRATEGIES

Traders are looking for a quick pop in FireEye this week.

optionMONSTER's market scanner shows that 7,200 Weekly 14 calls expiring tomorrow were purchased for $0.17 to $0.48 today. Volume was more than 6 times open interest at the strike, which indicates new money was put to work.

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)

FEYE is up 2.24 percent to $14.20 in morning trading but is down 15 percent in the last three months. The cybersecurity company reported bearish results on Aug. 4 and is expected to announce its next quarterly numbers after the close on Nov. 3.

Overall option volume in the name is twice its daily average so far today. Calls outnumber puts by a bullish 23-to-1 ratio.

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