Ford Motor has been on a stealth run, and yesterday activity built rapidly in the options.
OptionMonster's tracking systems showed steady flow in the May 14 calls, with early buyers paying $0.09 to $0.12. Volume topped 25,000 barely an hour into the session and ended the day close to 39,873 contracts—well above the strike's previous open interest and therefore new positioning.
Calls lock in the price where shares can be purchased. That can give them leverage to the upside, something that we saw yesterday because the stock inched higher and those calls rose more than 10 percent to $0.14.