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September 16, 2016  Fri 10:21 AM CT

TRIP : SEE CHART GET CHAIN FIND STRATEGIES

Bullish traders are looking for TripAdvisor to break out of its recent range by early next year.

optionMONSTER's monitoring program shows that 2,850 January 67.50 calls were purchased for $2.80. Volume was more than 4 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)

TRIP is off 1.44 percent to $60.93 in morning trading. Shares are down 4 percent in the last three months but have traded sideways for the last several weeks. The vacation-review site reported bearish results on Aug. 3 and is expected to release its next earnings 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 15-to-1 ratio.

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