APC – Anadarko Petroleum Corp. – Bullish options strategists dominated activity on the independent oil and gas exploration and development company today as shares of Anadarko Petroleum Corp. rebounded 1.87% to stand at $43.60 by 12:17 pm (ET). Investors expecting shares of the underlying stock to continue to gain ground over the next several months purchased call spreads in the November contract. It looks like optimistic options players picked up approximately 15,000 calls at the November $47.5 strike for an average premium of $4.79 apiece and sold about the same number of calls at the higher November $57.5 strike for an average premium of $1.62 each. The average net cost incurred by call spreaders at these strike prices amounts to $3.17 per contract. Thus, investors long the spread are prepared to accrue maximum potential profits of $6.83 per contract as long as Anadarko’s shares surge 31.9% over the current price of $43.60 to exceed $57.50 ahead of November expiration. APC-bulls start to make money only if shares rally 16.2% to trade above the average breakeven price of $50.67 ahead of expiration day in six months time.