Symantec has been parked at long-term resistance, and now the bulls are looking for a breakout.
OptionMonster's tracking systems detected the purchase of 8,350 April 25 calls on Friday in volume that was 14 times higher than the strike's previous open interest of just 600 contracts, clearly showing that this is fresh buying. Most of those options were priced for $0.17 to $0.21.
Calls lock in the price where investors can buy shares, so they have the potential to generate significant leverage in the event of a rally. But they will expire worthless if the stock doesn't move or declines.