The bulls are betting that Textron is ready for takeoff.
OptionMonster's tracking systems detected the purchase of almost 4,400 December 31 calls yesterday, most of which priced for $1.20 to $1.33. Volume was almost 39 times the previous open interest at the strike, indicating that new long positions were initiated.
These long calls lock in the price where shares can be purchased in the maker of Cessna planes and Bell helicopters. Investors use the options as a relatively inexpensive way to profit from gains in the stock while limiting the amount of capital at risk if it tanks.