Option traders are finding a new favorite in Botox maker Allergan.
OptionMonster's tracking systems detected the purchase of 2, 530 April 95 calls for $4.62 and $4.673. Volume was more than 34 times previous open interest at the strike.
Calls lock in the price investors must pay to buy shares, so they can result in some big profits in the event of a rally. That leverage has already been at work in the name because last week investors bought the October 92.50 calls for $0.90 and $0.95. At the time, Allergan was trading for $92.80.