Options Brief: Foot Locker (FL)

FL – Foot Locker, Inc. – The global retailer of athletic footwear and apparel popped up on our ‘hot by options volume’ market scanner due to bullish activity in September contract call options. Foot Locker’s shares increased 2.5% to $13.99 by 11:55 am (ET). It looks like one optimistic individual is positioning for shares to rally higher by purchasing 1,650 calls at the September $15 strike for a premium of $0.50 a-pop. The investor stands ready to accrue profits should the footwear retailer’s shares surge 10.8% to trade above the effective breakeven price of $15.50 by expiration day in September. Foot Locker’s shares last traded above $15.50 back on May 3, 2010.