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Traders are bullish on Priceline Thursday, buying calls in enormous volume after a positive report from Susquehanna Bank.
The online travel service's stock [PCLN
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] is up about 1 percent to trade around $71 as of this writing, roughly half its 52-week high from mid-May. On the options front, PCLN volume exceeded 30 times its 30-day average in the first 90 minutes of trading alone.
About 38,300 calls are trading against just 16,000 puts, according to OptionMonster's proprietary tracking systems. Much of the activity involves the January 75 and January 80 calls.
The activity followed the release of Susquehanna research that says a rising euro will strongly benefit Priceline, which derives nearly 60 percent of its bookings from Europe. The euro has rallied more than 15 percent against the dollar since mid-November.
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Online Travel Rivals:
Expedia [EXPE
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Orbitz Worldwide [OWW
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]
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.
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Data is a real-time snapshot *Data is delayed at least 15 minutes