Trader Takes $1.5 Million Bet in Pandora P to the Long Side

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Pandora Media             , Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy, as well as offers Pandora One, a paid subscription service to listeners. Yesterday, we at saw a trader buy 21,676 P May 31-35 Bull Call Spread for $.55 debit. This is a HUGE bet that P will trade above $31 by May expiration. This was a $1.5 Million bet, so yesterday I bought the May 31 Calls for $.95 and I am up over $8,000 in 2 days and I think that P has more upside potential.

The Trade: I bought the P May 31 Calls for $.95
Risk: $95 per 1 lot
Reward: Unlimited
Targets: $1.10, $1.30, $1.50 and $1.75

Greeks of this Trade:
Delta: Long
Gamma: Long
Theta: Short
Vega: Long
I hope that other guy has millions to spare - whoops.
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