$RBLX call buyers triple money

Bullish option positions opened in Roblox (RBLX) are returning big gains for upside traders as shares reach new highs again today.

On May. 21, Market Rebellion’s Unusual Activity Service found that 2,600 Weekly $80 calls, expiring this Friday, May 28, were bought for $2.88 to $4.60 with shares at $79.60. This was clearly fresh buying, as open interest in the strike was just 966 contracts before the activity appeared.

Those calls have traded for up to $14.80 today, more than 3 times their purchase prices. The stock rose 18.57% in the same time frame, underscoring the kind of leverage that can be obtained with options.

This marks the second winning trade in the name to be posted on Market Rebellion in as many sessions.

Long calls lock in the price where the 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.

RBLX was last higher by 0.68% today at $89.93. The video game developer reached a new high this session of $95.00.