Hertz is attracting bullish option activity ahead of its earnings report next week.
About 3,500 March 14 calls traded yesterday in a strong buying pattern against open interest of 2,003 contracts. Nearly all of them went for $1.40, according to optionMONSTER's Heat Seeker system.
HTZ closed at $14.92 percent yesterday, up 1.57 percent on the day. The car-rental giant has been climbing steadily this year since breaking through resistance around $12.
The company is scheduled to release fourth-quarter earnings results on Feb. 22 after the close. For the calls purchased yesterday to turn a profit, the stock would need to gain roughly 3.2 percent by expiration in mid-March.
Overall option volume in the name was nearly 7,000 contracts, more than triple its daily average. Calls at all strikes outnumbered puts by more than 5 to 1.
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