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March 20, 2013  Wed 4:14 AM CT

Someone wants to get lucky with Talisman Energy.

optionMONSTER's tracking programs detected a surge of bullish activity in the Canadian company yesterday. Activity started less than an hour into the session when about 10,000 July 13 calls were purchased for $0.60 and matching number of July 10 puts were sold for $0.20.

If the stock gaines, the long calls--which lock in the purchase price of the shares--will rise in value while the puts sold short will dwindle. Combining the two is doubly bullish, resulting in a cheap position with potentially massive leverage if the stock rallies. (See our Education section)

TLM, which closed the session unchanged at $12.02, has been consolidating around $12 all year. Energy stocks have been bullish in the last month as investors target companies operating in the United States and Canada.

Later in the session, another 10,000 contracts traded at each strike as the investor added to the bullish strategy. Total option volume was 6 times greater than average yesterday.

(A version of this post appeared on InsideOptions Pro yesterday.)

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