Are shares of JetBlue about to take off? That's what options traders appear to be betting on, as bullish options on the airline stock trade in huge volumes.
On Monday, two times the average daily options volume for the stock traded, and on Tuesday the volume reached three times average. The hottest option was the November 11-strike call, which traders were buying for about 63 cents. This amounts to a wager that JetBlue shares, which closed at $10.65 on Tuesday, will rise above $11.63 by November expiration in six weeks.