$EQT call prices rise

Bullish option traders are turning a hefty profit in EQT Corporation (EQT) this session.

On Nov. 6, Market Rebellion’s Unusual Activity Service found that 3,600 January $44 calls were bought as part of a bullish roll for $1.18 against no open interest of 557 contracts with shares at $40.41.

Those calls sold for $8.87 today, a 651.69% return, while the stock rose 30.78% in the same time period, 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.

EQT settled the session up 3.45% at $52.44.