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Allstate has been trending higher for months, and one investor is betting that the insurance stock will keep running.

optionMONSTER's Heat Seeker tracking system detected the purchase of about 13,000 February 29 calls for $0.70 and the sale of an equal number of January 28 calls for $0.80. Volume was below open interest in January but not in February, which suggests that an existing long position was rolled from one contract to the other.

That provides the investor with an additional month to profit from a rally. He or she also collected a $0.10 credit.

ALL is up 0.33 percent to $27.79 this afternoon and more than 17 percent in the last three months. It's been climbing along with other insurance stocks and has beaten estimates the last two times it reported earnings. The next release is scheduled for the morning of Feb. 2.

Overall option volume is 6 times greater than average in the name so far today. Calls outnumber puts by 34 to 1, according to the Heat Seeker.

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