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writer, OptionMonster
A large options trader apparently thinks that Comcast is heading higher.
OptionMonster's tracking systems detected heavy buying of the August 15 calls yesterday for $0.20 and $0.25. In just half an hour, the strike traded 10,098 times against open interest of 681 contracts. Another 1,357 contracts changed hands in the strike the rest of the session.
Comcast [CMCSK
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] rose 0.44 percent to $13.66 yesterday and is up 3.09 percent in the last month, compared with an 9.07 percent gain for the S&P 500. The call buyer may be betting on strong results when the cable company reports second-quarter earnings before the bell on Aug. 6.
Alternatively, the trade may have resulted from an investor buying calls and selling the shares as part of a so-called delta-neutral strategy that would benefit from increased movement in the shares.
Options volume in Comcast was more than eight times average yesterday, with calls outnumbering puts by 75 to 1.
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Options Trading School:
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David Russell is a reporter and writer for OptionMonster.
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Data is a real-time snapshot *Data is delayed at least 15 minutes