Fast-money traders went shopping in Gap on Monday morning.
OptionMonster's tracking programs detected unusual activity in the Weekly 30.50 calls expiring this Friday, with early buying for $0.69 and $0.70. Some 1,300 contracts had traded in the first few minutes of the session, followed by another 1,300 throughout the rest of the day.
Gap shares traded marginally higher at the time and then started to ramp higher, ending the day up 2 percent to $31.04. But that was nothing compared with the 30.50 calls, which shot up 50 percent to $1.05. That made for some fast money from a minuscule move in the stock price.