Bulls Knocking on Fortress's Gate (FIG)

Shares of Fortress Investment Group LLC (NYSE: FIG) are lower on the session by 4.48%, currently trading at $4.26. The stock has been moving largely higher over the past four months and is currently trending higher above the 50-day and 200-day moving averages. FIG looks like it wants to test $4.00 first, which is a major level to hold for a number of technical reasons.

Options traders are buying calls on the name today. A short while ago the December $5.00 call was purchased 2,120 times, on the offer, for $0.15 on open interest of 2,681 contracts.

Overall call volume is now running at 3.22x the daily average, 93% on the offer.

Fortress Investment Group LLC is a global investment manager with approximately $41.7 billion in asset under management as of June 30, 2010. Fund investors provide Fortress with capital, which the company invests and manages on their behalf through private equity funds, credit funds, liquid hedge funds and traditional asset management strategies.

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