Traders Liking Facebook Inc (FB) Pick Up Call Options As Stock Rallies

Westport Innovations Inc. (NASDAQ:WPRT) – Shares in the provider of low-emission engine and fuel system technologies, Westport Innovations Inc. (NASDAQ:WPRT), are soaring today, up more than 10% at present to stand at $33.68, the highest level since September of 2012. Traders betting the stock has more room to run in the near term initiated bullish positions in Westport Innovations Inc. (NASDAQ:WPRT) options in the early going today. Upside calls attracting the most volume thus far in the session are the Jul $32 strike contracts, with roughly 2,250 lots in play versus open interest of 2,025 contracts. It looks like most of the calls were purchased for an average premium of $0.77 apiece in the first hour of trading. The contracts make money at expiration as long as shares in Westport Innovations Inc. (NASDAQ:WPRT) exceed the average breakeven price of $32.77. Intraday gains in the price of the underlying since this morning has already substantially increased the value of these contracts, with premium on the calls currently up at $2.00 apiece as of 12:10 p.m. ET.

Caitlin Duffy
Equity Options Analyst

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