Calls Purchased on Fortress Investment Group (FIG)
July 20, 2010 3:15 PM
Shares of Fortress Investment Group LLC (NYSE: FIG) are higher on the session by 1.01%, currently trading at $3.99. The stock has been moving largely lower over the past six months and is currently in a technical downtrend.
Options traders are buying calls on the name today. The August $4.00 call was purchased 1,250 times, on the offer, earlier in the session; open interest on the strike is only 402 contracts, signaling new, bullish positioning on the name.
Call volume is now running at 3x the daily average.
Fortress Investment Group LLC is a global alternative asset manager that raises, invests and manages private equity funds, liquid hedge funds and hybrid funds. Fund investors provide the capital for these funds, which it invests and manages on their behalf.
