The bulls just can't get enough of Golar LNG.
optionMONSTER's Heat Seeker monitoring program yesterday detected
the purchase of 1,000 September 65 calls for $3.20 and the sale of
an equal number of September 75 calls for $1.20. A block of 1,000
July 60 calls was also sold for $1.20, but that volume was below
the previous open interest in those.
It appears that the investor entered the session holding the July
in hopes of a rally in the natural-gas transportation stock. He or
she then closed that position and rolled it to a
in September for an incremental cost of $0.80. The trader now stand
to collect $10 if the shares close at $75 or higher on expiration
two months from now. (See our
GLNG rose 0.73 percent to $59.74 yesterday and is up some 50
percent since being recommended on our
webinar in early March. There was also
bullish call action
in late April, which has yielded profits of about 200 percent.
The company is riding a wave of enthusiasm as surging shale
production puts the United States back on the map as a major energy
exporter for the first time in decades. Revenue is forecast to
reach $129 million this year and more than double in 2015. Related
names like Cheniere Energy and GasLog have also outperformed,
according to optionMONSTER's
Total option volume was slightly above average in GLNG on Monday,
with calls outnumbering puts by a bullish 6-to-1 ratio.
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