Earlier today Atmel Corp. was trading at 8.97 with a vol of 47.28, when trader closed and rolled a losing trade, cutting down the size.? The trader sold 11352 of the Aug 8 calls at 1.10.? The loss on the calls is likely only a few nickels.? The trader then bought 6,000 of the Nov 9 calls paying 1.00.
What makes this trade interesting is that the trader rolled the trade back and higher but then cut the size of the trade in half.? Additionally there was more than a month left in the August calls.
This trade should be considered bullish the stock and volatility,? Traders looking to piggy back should consider selling puts, as this increase confidence that the stock isn?t going to DROP, but the customers past performance points toward mixed results.