Ford Motor moved progressively higher this week, and option traders are betting that it has more fuel in the tank.
The automaker saw 220,398 calls change hands versus 58,708 puts, according to OptionMonster's real-time tracking systems. Institution-sized buying included some 50,000 February 21 calls that went for $0.16, including a single block of 36,862 contracts.
The January 19s were also purchased but in volume less than open interest, so that could be panic buying on the part of short sellers.
The company has been gaining traction like one of its big-load pickups, with December another strong month of sales for the F-150, the Fusion, and the Edge. Shares fell 0.16 percent to $18.68 yesterday but hit a new nine-year high of $18.97 before pulling back.
Ford stock is up 37 percent in the last three months but would need to rise another 13 percent in the next five weeks for the calls purchased yesterday to turn a profit.
Pete Najarian owns Ford calls and bonds.
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