Options Bullish on Crocs and Owens Ahead of Earnings

Options action was bullish yesterday on Crocs and Owens Corning ahead of earnings reports by both companies this week.

Investors plowed cash into the August 4 calls in Crocs, gobbling up more than 6,000 contracts for $0.15 to $0.45, according to OptionMonster's tracking systems. Volume was more than twice the open interest.

Crocs rose 14.62 percent to $3.92 yesterday. The footwear retailer will release second-quarter earnings Thursday after the bell.

Owens Corning is scheduled to report before the bell tomorrow. The building insulation maker rose 6.04 percent to $19.49 yesterday and is up 59 percent in the last month. Most of the buying focused on the August 20 calls, which traded 3,628 times for $0.50 to $0.85 against open interest of 1,951 contracts.

Options volume was more than six times average in both names, and combined call activity exceeded puts by more than 7 to 1.

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David Russell is a reporter and writer for OptionMonster.