FedEx reports earnings today before the bell this morning, and traders are looking for the stock to deliver.
OptionMonster's tracking programs detected a roll up from the June 105 calls to the July 110s. They sold the 105s for $0.52 and bought the 110s for $0.59, so the transaction cost a net $0.07.
Calls lock in the price where they can buy shares in the parcel company, providing cheap exposure to a rally. They can also generate some nice leverage if the stock pushes higher.