Traders Bet On More Gains For APA Corp

Shares of APA Corp APA, the holding company for Apache, have rallied more than 60% year to date.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that APA traded 5.3 times its average daily call volume on Tuesday.

Check out other stocks making big moves in the premarket.

There were buyers of 25,000 of the October 45 calls at $8.25 per contract on average, Khouw mentioned. This included one block of 20,000 contracts in institutional investment, he added.

Also See: Xi Jinping Directs Chinese Troops To Carry 'Special Military Operations' Abroad

Traders see shares of APA climbing at least 16% by the October expiration, Khouw said.

APA Price Action: Shares of APA rose 0.94% to settle at $46.00 on Tuesday.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: Long IdeasOptionsMarketsMediaTrading IdeasCNBCMichael KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!