Bulls Look for Enbridge to Bounce

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Pipeline company Enbridge Energy Partners is drawing bullish option activity.

OptionMonster's tracking programs Friday showed the purchase of about 2,800 December 27.50 calls, most of which priced for $0.85. Volume was more than 50 times open interest at the strike, indicating that new positions were initiated.

Those calls lock in $27.50 as the purchase price on Enbridge shares in the next five weeks, no matter how high the stock goes. That will provide significant leverage in the event of a rally, but the contracts will lose all their value from even a modest decline.