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ManPowerGroup attracts buyers

ManPowerGroup is attracting bullish option activity ahead of quarterly results next week.

optionMONSTER's Heat Seeker system shows that about 2,000 August 95 calls mostly for $2.15 to $2.25 yesterday. This represents new positions, as open interest in the strike was only 120 contracts before the trade appeared.

These long calls lock in the price where the stock can be purchased through mid-August no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $95. (See our Education section)

MAN rose 2.32 percent to $93.99 yesterday, its highest level since July 2007. The temporary-staffing company is up some 45 percent since breaking out with strong earnings in late January. Its next quarterly numbers are scheduled to come out July 21.

Overall calls in the name outnumbered puts by a bullish 23-to-1 ratio.

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