EnerNOC has been ripping, and the bulls are looking for more.
optionMONSTER's Heat Seeker monitoring program detected the
purchase of more than 1,300 October 12.50 calls for $0.15 to $0.30.
Volume is more than 16 times open interest at the strike.
Those
long calls
lock in the price investors must pay to buy shares in the company,
whose products help utilities reduce wasted energy. They could
generate some major leverage if the stock continues to rally but
will expire worthless if it doesn't. (See our
Education
section)
ENOC is up 9.63 percent to $11.04 in afternoon trading and more
than 80 percent in the last three months. Most of those gains came
after Aug. 7, when the shares gapped higher following a strong
earnings report. Management also raised guidance because of better
visibility from customers.
Today's trades pushed total option volume in the name to almost 10
times normal levels. Calls outnumber by a bullish 12-to-1 ratio,
according to the Heat Seeker.
