Our Hot Money monitor just spotted a 400% increase in call options contracts purchased in Cenovus Energy Inc. (CVE), betting these will quickly soar higher.

Here's what I'm doing…

Buy-to-open the CVE July 16, 2021, $10/$11 call spread

At last glance, this spread is trading at $0.25 x $0.30.

Let’s manage our risk before entry and I’ll keep you updated every step of the way.