Exact(3)
Just ahead of midday, one investor sold 20,000 March expiration calls for Bank of America at the 8.0 strike at a 67-cent premium.
The investor appears to have paid a net $1.00 to establish the trade by buying 10,000 August expiration calls at the $27 strike in exchange for the same amount of $31 strike calls.
The January expiration calls were sold at the 7.5 strike, which means that shares in the company would need to double in the meantime before the stock could be called at the time.
Similar(56)
Family Dollar : Shares are nudging above $30 and it appears that an investor bought 10,000 December expiration call options to sell the same amount expiring at the same 30 strike in January.
In his stay, Judge Fogel seemed to agree, and indicated that he had been blindsided by the state's admission about the drug's expiration, calling it a "fact that the defendants did not disclose to this court".
Option traders can feel the positive vibes, and Thursday have piled into nearby expiration call options tipping the shares to be a strong performer.
JPMorgan Chase : A buyer of upside risk emerged today in the January expiration call options at JPM, one day after the company noted just how swell revenues are for the first quarter.
On the revenue side of the ledger, early expiration dates, called sunsets, were written into the tax bill this year to hold down the official 10-year cost.
It looks like investors expecting shares to continue higher ahead of August expiration purchased call options.
As an expiration play, call buyers are predicting shares at the coal miner will rally to $16.35.
Perhaps confident shares would rebound by May expiration, the call buyer held onto the position, waiting for more favorable circumstances.
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