Strong Volume in FST October Calls

There is some very strong call buying today in the Forest Oil FST October strikes today.  Specifically, someone is aggressively after the October 10 calls with more than 12,000 contracts bought, and the October 9's also showing some concentrated action.  The open interest in these prior today were minimal but this buying seems to point toward higher prices on the horizon.

The bulk of buying took place at roughly $0.20 on the October 10 calls (all on the offer).  A 30% rise in the stock would be a homerun return at this price on the strike.

Bob Lang is chief options strategist at explosiveoptions.net  

Disclosure - Long October 9 Forest Oil calls