Pre-Earnings Option Activity in Forest Oil
Independent oil and gas company Forest Oil Corporation (NYSE: FST) is set to release their second-quarter earning after the close on Monday.
It appears at least one investor is looking for a run-up in shares as a result of the release. Total contract volume is already more than three times the company's daily average with the near month $7 calls recieving the most attention. The largest block saw 3,000 August 7 calls trade on the offer of $0.40, pushing that strike's total volume to 5,000 contracts on the day. These contracts will need Forest Oil to rally at least 10.2% over the next 4 weeks to begin to show any profits.
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