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With current interest rates so low, one investor is instead using Owens Corning options to earn some income.

optionMONSTER's scanners detected the sale of 2,723 January 2014 25 calls for $11.10. An equal-sized block was bought in the February 25 calls at the same time for $10, but volume was below open interest. This indicates that an existing short position was rolled forward in time.

The investor probably owns shares in the maker of building materials and had previously sold the February contracts to earn income . By adjusting those calls, he or she collected an additional $1.10 of income while holding the long stock position. (See our Education section)

OC is down 0.2 percent to $34.51 in afternoon trading. Based on that price, the credit received translates into a yield of 3.2 percent for a position that will expire in a little more than a year. By contrast, 10-year corporate bonds yield less than 3 percent and 10-year Treasury notes less than 2 percent.

The investor will earn that 3.2 percent profit as long as OC remains above $25. Our strategySEEK data tool shows that there is less than a 1-in-5 probability of it dropping to that level.

Overall option volume in OC is 9 times greater than average so far today.

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