By David Russell, reporter at OptionMonsterNEW YORK ( OptionMonster) -- Sealed Air ( SEE - Get Report) has been trading sideways since the summer crash, but Thursday its options came to life. OptionMonster's real-time tracking systems detected the purchase of about 2,500 February 20 calls for 10 cents to 20 cents. The previous open interest at the strike was just two contracts, so these trades obviously represent new positions. The long calls lock in the purchase price that investors must pay to buy shares of the company, which is best known for its Bubble Wrap packaging material. The option premiums could double or triple if the stock rises 10% to 15%, but the contracts would expire worthless if it fails to move. Sealed Air's shares rose 2.16% to $17.99 Thursday. The stock lost about one-quarter of its value between May and August but has been consolidating since then. This week it managed to find support above its 100-day moving average, which some investors may consider a bullish sign. The company's next earnings report is scheduled for the morning of Feb. 9. Its total option volume was 14 times greater than average Thursday, with calls outnumbering puts by 34 to 1. Russell has no positions in SEE.
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