Traders Bet On More Gains For APA Corp

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.

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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.

Posted In: CNBCMichael KhouwOptimize AdvisorsLong IdeasOptionsMarketsMediaTrading Ideas