Market News

October 18, 2016  Tue 6:14 AM CT

A big investor is extending an upside position in Procter & Gamble.

optionMONSTER's tracking program detected the sale of 11,627 January 82.50 calls for $6.45 and the purchase of 11,627 April 82.50 calls for $7.05 yesterday. Volume was below open interest in the January contracts, indicating that a bullish position was rolled forward by three months for $0.60.

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)

PG fell 0.68 percent to $87.83 yesterday but is up 3 percent in the last three months. The consumer-products giant is scheduled to report earnings in pre-market hours on Oct. 25.

Total PG calls outnumbered puts by a bullish 4-to-1 ratio yesterday.

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