Traders spent a second straight session piling into bullish options on shares in Hertz Global Holdings. Hertz has been battling Avis Budget Group for Dollar Thrifty Automotive Group. Over the weekend of Sept. 11, Hertz sweetened its Dollar Thrifty bid, according to the Wall Street Journal.
Dollar Thrifty's options trading showed little suggestion that traders hope for an Avis Budget counteroffer.
At 75 cents, Hertz's October $11 calls are profitable if Hertz stock can add more than 8.4 percent over the next month. Hertz's shares rose 79 cents, or 7.9 percent, to $10.84 in recent trading.
Bullish Hertz traders on Sept. 10 also caused volume in the company's options to soar.