Frontline Ltd. (FRO) is a Bermuda based crude oil transport company, and the world’s largest oil shipper by fleet size. As of the time of this post (11:00AM CST) FRO is currently trading at 4.89, up 24.25% on the session. The stock is currently well within the upper portion of its 52 week trading range of 1.18-5.12 following today’s tremendous rally. The stock printed as high as 5.00 on today’s session, which has provided some key resistance for buyers on the daily chart.
Earlier this morning a trader came and bought 1,402 FRO Feb 5 Calls for $0.50. The stock ripped to session highs after this order hit and as the stock has moved higher traders continue to buy these calls as the stock moves higher. Shortly after these calls hit a trader cmae in and bought another block of 2,000 calls for $0.60, then a block of 1,090 calls for $0.75, and a final block of 982 calls for $0.85. This means that if a trader would have taken the first OptionHacker signal they potentially could have seen 70% returns in a matter of hours. Another absolute blowout winner!
Trade: Traded bought the FRO Feb 5 calls for $0.50
Risk: $50 per 1 lot
Reward: Unlimited
Breakeven: $5.50
Regards,
Andrew Keene
KeeneOnTheMarket.com
