Call buyers score in $PG

Bullish option traders have scored once again, more than doubling their money in Procter & Gamble (PG).

On Feb. 15, Investitute’s tracking systems detected the purchase of 39,884 July $95 calls, as part of a bullish roll, for $6.50 and $6.55 with shares at $98.86. This was clearly a new position, as it dwarfed open interest in the strike, with only 994 contracts before that session began.

Those calls sold for $14.80 today, nearly 2.5 times their purchase prices. The stock rose 11.4% in the same time, illustrating the kind of leverage that can be achieved with options.

Long calls lock in the price where a stock can be purchased, gaining with a rally and providing leverage to the underlying shares. The contracts can quickly lose value if the stock stalls or pulls back but also carry less risk than owning the shares themselves.

PG reached a new all-time-high of $110.95 today and closed at $110.91, up on the session by 1.16%. The consumer packaged-goods giant has continued to outperform the benchmark S&P 500 this year.