$BLNK call prices keep charging higher

Shares of Blink Charging (BLNK) are charging higher again today, delivering more big gains to upside option positions.

On Dec. 17, Market Rebellion’s Unusual Activity scanners showed that 2,300 Weekly $35 calls expiring this Thursday were purchased for $1.30 to $2.40 with shares at $32.42. These were clearly new positions, as the open interest in that contract before the trade occurred was just 1,172.

Those calls traded for $13.40 today, over 5.5 times their purchase prices. The stock surged 49.44% in the same time period, a huge move but still nowhere near that of its options on a relative basis.

This marks the second winning trade in the name to be posted by Market Rebellion in the past week.

Long calls lock in the price where investors can buy a stock, letting them position for a rally at limited cost with the potential for significant leverage. They carry less risk than owning shares because the most that can be lost is the price of the options no matter how far the stock might fall.

BLNK finished the day higher by 28.89% at $48.49. The electric car maker signed an exclusive seven-year agreement with Lehigh Valley Health Network to own and operate charging stations across the health network’s portfolio.