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.
A-shot
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I sat on my hands this whole rally waiting for a normal breather/dip...and seeing that it did not happen makes me sad. Not a single 2+ red day streak. I wonder if even this observation gets broken as all resistances i could find within indices were taken down in an ambush
TomPower
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listen dude you weren't the only one. I was ready to sell the first dip until the first huge rebound knocked me out. then was looking to buy the dip, way too early , did I think it was going to be 10 % correction. hell no.
Flubberpants
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I think it's also interesting to note the time-frame in which these rallies unravelled. The recent rally has been unreal, over just 10 trading sessions.
IvanLabrie
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Great observation, will be interesting to watch how it unfolds.
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.