Today we saw a trader buy over 5000 FTI September 30 Calls for $.40. This was a very interesting trade, because this is the second straight day where we have seen a big buyer of Calls and I think the stock is finally starting to bottom out and can move higher. I am long these Calls.
This is the power of Insider Buyer in the options market. This gives the trader the right but not obligation to buy almost 500,000 shares of FTI between now and September expiration and for this right they paid $40 per 1 lot or almost $200,000 total. This is a big Insider Buyer of FTI Calls. The right but not obligation to buy 500,000 shares might not seem like a big order, but that stock has only traded about 1,600,000 shares of stock today, so it is a huge order vs. the normal stock volume.