Tim 11:11AM 10/31/2014
a block of 16,900 March 2225 calls was bought for $4. This is clearly a new position, as the volume was 4 times the previous open interest.
The call buyer is betting that the S&P 500 will be higher by more than 10 percent in the next five months. This is a relatively inexpensive way of making that bet, but the trade still cost $6.76 million.