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Buyers stay tuned in to Dish Network

David Russell (david.russell@optionmonster.com)

Dish Network has been ripping, and the bulls are staying tuned for more upside.

optionMONSTER's Heat Seeker monitoring program detected the purchase of 2,000 January 37 calls for an average premium of $1.71. An equal number of January 35 calls were sold at the same time for $2.77 against existing open interest, which suggests that an existing position was closed and rolled to the higher strike.

The investor received a credit of $1.06, letting him or her get back some money on a winning trade. They remain exposed to making more money with the January 37 calls if the satellite-television stock continues to rally.

DISH is trading at $36.56, up 2.18 percent this morning and 28 percent in the last three months. The stock was the target of bullish option activity in mid-October , earning more than 500 percent for some traders in just two sessions.

Its business performance also showed signs of improvement last quarter as the company did a better job of retaining subscribers.

Overall option volume is quadruple the daily average so far today, with calls accounting for almost two-thirds of the total.

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