Option activity was extreme in Facebook yesterday, and some traders made some fast money.
OptionMonster's real-time scanners showed heavy activity in the Weekly 28.50 calls that expire today. Those options went for $0.05 in the morning with the stock down around $27.70, but when Facebook started inching higher those calls ramped up to $0.45.
Calls lock in the price where investors can buy shares, so they have the ability to generate big leverage when a stock rallies. But if the shares don't rise, yesterday's contracts will lose all of their value when the closing bell rings today.