讨论：CREE 2013 Jan 60 call block trade

Rosemary1

没有经验。象这样的远期OTM call, 通常意味着什么？
认为CREE 会在2013 January 以前大幅度向上？那谁卖的呢？



Shares of LED company Cree are bouncing off yesterday's two-year low, and traders are buying calls in long-term options.

CREE is up 4.28 percent on the day to $33.17, bringing shares back to where they were on Tuesday. The stock price is less than half of what it was at the beginning of 2011 before gapping lower on the companhy's January earnings report.

Option volume in CREE this morning is 3 times the daily average, led by more than 25,000 January 2013 60 calls. The largest block of 23,750 went for $1.85, above the ask price at the time, indicating that the calls were bought. This volume was 100 times the previous open interest, so it was clearly a new opening position.

This call buying wasn't tied to any trading in the underlying shares today that we saw. The trader spent almost $4.4 million on this unusually large position, which will profit at expiration only if CREE has essentially doubled in the next 18 months.

dayuangone8

CM bought it ?