The energy sector is heating up and Gulfport Energy Corporation (GPOR) just got hotter, with one investor making a big bet on the OCT $67.50 call options. The trader bought over 3800 OCT $67.50 calls, paying $3.20 to $3.40 per call. That’s an investment of $1,216,00. This guy knows something we don’t.
Gulfport Energy Corporation (GPOR) is currently trading at $62.36, up 38 cents on the day. The investor bought his 3800 calls just around noon today. This is a good copycat bet as you can still get in around $3.50 on the Oct 67.50 calls. Alternatively, you could play it safer and buy the common and wait for the inevitable pop.
While the options don’t expire until October, you can be sure some news will come out much sooner, that will drive the price higher in a hurry. Just be sure to sell on the news or you’ll be left holding the bag.
As it’s name implies, Gulfport Energy Corporation is an independent oil and gas producer based on the gulf shore. There is no pending news to be found currently on GPOR to explain this large call buy. The company doesn’t announce Q2 earnings until August 4, 2014.
Gulfport Energy Corporation has a large following of analysts with an average Overweight ranking, and average price target of$76.10, so it seems somewhat unlikely that a big upgrade or price target increase has leaked.
We’ll just have to wait for the details to unfold on this large call buy.
In the meantime, here’s the chart on Gulfport Energy Corporation (GPOR):