The bulls are coming back to Move after a big pullback in the real-estate stock.
optionMONSTER's Heat Seeker monitoring program detected the purchase of 2,400 January 15 calls for $1.30 and the sale of an equal number of January 20 calls for $0.20. A similar number of July 12.50 calls were sold for about $1.10 but volume was below open interest in those.
It appears that the investor came into the session long the July contracts, looking for a rally. MOVE pushed higher and they rolled out their position to a call spread early next year, with the potential to collect $5 if the stock closes at $20 or higher on expiration. (See our Education section)
MOVE is up 7.03 percent to $13.17 in midday trading. The provider of information for homebuyers and renters hit a six-year high of $18.36 in October, but then rolled over and had fallen under $10 by earlier this month. It's been rebounding in recent sessions along with other e-commerce stocks.
Its larger real-estate services group is the second-best performing industry niche in the last two weeks, according to our proprietary researchLAB market scanner.
Total option volume is 29 times greater than average so far today, with calls outnumbering puts by more than 70 to 1.
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