The oil bulls are expanding their horizons to Gran Tierra
Energy, which operates in South America.
optionMONSTER's Heat Seeker monitoring program detected the
purchase of almost 2,300 March 5 calls for $0.45. Volume was
almost 8 times open interest at the strike.
The trader now stands to benefit from a rally in GTE, which has
failed to participate in the energy sector's rally over the last
three months. Some investors may be worried about the company's
strong presence in Colombia, where guerillas have been regaining
control of the countryside.
would be an effective way to manage that risk because it provides
exposure to a rally while costing much less than the shares. See
GTE rose 1.59 percent to $4.46 on Friday. It normally only sees
option volume of about 100 contracts, but activity was more than
20 times that amount, according to Heat Seeker. Not a single put
changed hands in the session.
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