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Call buyers tune into Discovery

(The following is an example of notable trading cited on optionMONSTER's InsideOptions Pro service Friday.)

Discovery Communications has gotten slammed along with other media names, but traders are betting on a pop in coming weeks.

optionMONSTER's Heat Seeker system shows that about 6,000 October 27.50 calls were purchased for $0.95 to $1.15 on Friday. This is clearly fresh buying, as open interest in the strike was just 456 contracts before the session began.

Long calls lock in the price where investors can buy...