AMR Corp. (NYSE:AMR) – Call options on AMR Corp., the parent company of American Airlines, are in high demand with shares of the underlying stock trading up as much as 9.1% to an intraday high of $7.79. AMR’s shares are currently up 7.00% at $7.64 as of 11:10 am (ET). Near-term bullish options investors scooped up 3,900 calls at the June $8.0 strike for an average premium of $0.24 each. Call buyers at this strike price profit if AMR’s shares rally above the average breakeven price of $8.24 by expiration day next month. Optimism spread to the July $8.0 strike where it looks like some 4,000 calls were picked up at an average premium of $0.48 per contract. Investors long the calls make money if shares of the underlying stock rally 11% from the current value of $7.64 to exceed the average breakeven price of $8.48 by July expiration.

Prudential Financial, Inc. (NYSE:PRU) – Bullish options action on the insurance company this morning indicates one optimistic player is positioning for continued upward movement in the price of the underlying shares through June expiration. Prudential’s shares are up 1.95% at $56.77 as of 11:05 am (ET). The investor purchased a debit call spread, buying 5,000 calls at the June $60 strike for a premium of $1.15 each, and selling the same number of calls at the higher June $65 strike for an average premium of $0.21 apiece. Net premium paid for the spread amounts to $0.94 per contract. The options strategist stands prepared to amass maximum potential profits of $4.06 per contract should Prudential’s shares surge 14.5% over the current price to surpass $65.00 by expiration day. The investor starts to make money only if the price of the underlying stock exceeds the breakeven point at $60.94 by June expiration.

The Cheesecake Factory, Inc. (NASDAQ:CAKE) – Investors breakfasted on Cheesecake Factory put options this morning with shares of the operator of casual, full-service dining restaurants trading 1.30% higher at $25.73 just before 10:50 am (ET). At least 2,100 lots of current total put volume of 5,230 contracts at the October $20 strike were sold short for an average premium of $1.00 apiece. Put sellers keep the full premium received on the transaction as long as Cheesecake’s share price exceeds $20.00 through October expiration. The overall reading of options implied volatility on the stock is down 8.00% to 46.44% in morning trading.

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