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PetroChina Bulls Swamp Options Market With Calls at 2010 High

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It’s about time China’s biggest energy producer got some good news, the options market is signaling.

As PetroChina Co. shares traded 27 percent below a September peak through yesterday in Hong Kong, the cost of bullish options bets climbed to a five-year high, data compiled by Bloomberg show. The Beijing-based company’s stock has slumped as a global supply glut dragged crude oil to prices not seen since 2009.