Valero Energy Draws Bullish Options Bets
Stock quotes in this article:VLO
By Chris McKhann, analyst at OptionMonster
SAN ANTONIO (TheStreet) -- Traders are making bullish bets on the Valero Energy (VLO) options that expire at the end of Friday's session. The oil refiner was up more than 7% on Thursday to $20.15. The stock appears ready to make a run back up to the September highs just above $21 and continue its uptrend from July lows just above $15. Option traders were very active in the October 19 and 20 calls throughout Thursday, according to OptionMonster's real-time tracking systems. More than 17,000 of the 19s traded and more than 30,000 of the 20s changed hands. The action at both strikes was well above open interest, indicating newly opened positions. One of the biggest trades appeared to be one investor rolling up calls, selling profitable October 19 calls and putting some of that capital to work in the October 20s with the expectation of further increases Friday. (No disclosures)>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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