Option bulls $MTCH profits

Match (MTCH) bulls are connecting with big profits in upside call positions today.

On Aug. 5, Market Rebellion’s Unusual Activity programs detected the the purchase 2,000 September $150 calls for $6.42 as part of a bullish spread with shares at $147.31. Open interest in the contract before the trade occurred was just 311, showing that this was a new position.

Those calls traded up to $13.64 today, more than 2 times their purchase price. The stock rose 10.35% at the same time, showing how quickly options can far outpace their underlying shares.

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.

MTCH was up 7.54% to close at $159.36 this session The dating-service operator was selected to replace Perrigo Company (PRGO) in the S&P 500 before the open on Sep. 20.