Foot Locker Off And Running After Q4 Beat

Foot Locker, Inc. FL shares are trading higher by $5.50 (8.2 percent) at $74.08 in Friday's session.

The catalyst for the rally is a Q4 beat of nickel, but came up just shy on revenues. Comps were up 5 percent.

Interestingly, at 2:09 p.m. on Thursday, Benzinga Pro reported a large trade in the March 70 calls. With an open interest of only 2391, 3456 options traded at $2.10. Those call are deep in the money now and as of 11:33 a.m. ET are priced at $4.80, more than double from the trade price on Thursday.

After a higher open, Foot Locker's stock had a brief retreat to $70.37 before continuing is move higher. So far, the ensuing rally has taken the issue to $74.70, but has backed that level. That high coincides with its December 22 high of $74.76.