Bulls checking into Wyndham Worldwide
Traders are looking for Wyndham Worldwide to rally in the next month.
optionMONSTER's monitoring program shows that 2,000 September 75 calls were purchased for $0.35 yesterday. This represents fresh buying, as volume surpassed open interest of 898 contracts.
Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction. (See our Education section)
WYN rose 0.01 percent to $70.11 yesterday but is down 7 percent in the last month. The hotel operator reported bearish quarterly results on July 27.
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