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• Bear goes after RIMM at eight-year low
• How one call seller is ringing up Avon

• ACAS 75% Rate It

One investor sees long-term resistance on American Capital's chart.

optionMONSTER's monitoring programs detected the sale of about 20,000 January 10 calls for $0.80 against open interest of 16,087 contracts. The trade was probably the work of a long-term shareholder in the private-equity firm.

He or she is now obligated to sell the stock for $10 if it's above that level on expiration, but the exit price would be $10.80 including the credit earned. While the position limits their upside, the income received also provides some cushion against a drop. Known as a covered call , the strategy is a common way that options are used to manage risk. (See our Education section)

ACAS rose 1.37 percent to $9.64 on Friday. The stock peaked at $10.85 last May before crashing along with the rest of the market. That could make some traders think that this level will hold the shares in check, which helps explain the call sale.

Overall option volume was 19 times greater than average in the session.

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