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September 19, 2016  Mon 8:02 AM CT

KORS: SEE CHART GET CHAIN FIND STRATEGIES

Call buyers are looking for a quick pop Michael Kors by the end of this week.

optionMONSTER's monitoring system shows that about 4,800 Weekly 47.50 calls expiring on Sept. 23 were purchased for $0.75 to $0.98 on Friday. This represents fresh buying, as open interest in the strike was just 125 contracts before the session began.

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)

KORS rose 0.36 percent to $47.85 on Friday but is down 4 percent in the last month. The apparel and accessories retailer announced bearish results on Aug. 10 and is expected to report its next earnings numbers in pre-market hours on Nov. 2.

Overall option volume in the name was twice its daily average yesterday. Calls outnumbered puts by a bullish 5-to-1 ratio.

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