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One investor wants to give Copart more room to run.

optionMONSTER's monitoring systems detected the sale of 1,500 May 50 calls for $1.80. An equal number of January 45 calls were purchased at the same time for $2.80, but volume was below open interest in that strike.

It appears that an investor owns shares in the used-car marketing company and had previously sold the January contracts as part of a covered call strategy. By adjusting the position, he or she got a chance to collect an additional $5 of upside on the stock. In return, the investor paid $1 and agreed to remain in the trade for an additional four months. (See our Education section)

CPRT rose 2.02 percent to $46.89 yesterday and is up about 20 percent since the start of October. Its last earnings report on Nov. 28 beat expectations and was followed by estimate increases at firms including RBC Capital Markets and Robert W. Baird. (See researchLAB for more)

Overall option volume in the stock was 26 times greater than average in yesterday's session.

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