Private-equity firm KKR has been drifting in a range, but traders are looking for a rally into the spring.
OptionMonster's real-time scanners detected the purchase of more than 3,000 March 16 calls for $0.20 and $0.25 on Friday. Volume was nine times the open interest in the strike at the start of the session, indicating that new positions were initiated.
Owning calls locks in the price where investors can buy shares. The options can generate some nice leverage in the event of a rally but will expire worthless if the stock doesn't rise.