Someone sees upside in Brazilian bank Itau Unibanco.
optionMONSTER's tracking program detected the purchase of 4,600 March 9 calls for $0.05 to $0.20 on Friday. Volume was more than 7 times the strike's open interest in the strike, which indicates that new money was put to work.
Calls fix the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. (See our Education section.) Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction.
ITUB rose 7.54 percent to $8.41 on Friday and is up 36 percent in the last month. The next quarterly report is scheduled for pre-market hours on May 3.
Overall option volume was 5 times greater than average.
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