Calls Purchased on Fortress Investment Group (FIG)
August 13, 2010 12:55 PM
Shares of Fortress Investment Group LLC (NYSE: FIG) are higher on the session by 0.78%, currently trading at $3.88. The stock has been moving largely higher over the past six weeks, but is sitting right at resistance via the 50-day moving average.
Options traders are buying calls on the name, betting that the stock can run higher. The September $5.00 call was purchased 3,200 times, on the offer a short while ago; open interest on the strike is 5,296 contracts.
Call volume is now running at 2.25x 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.
