Pitney Bowes, the manager of shipping and stamp costs, is trading back above its 200 day moving average since earnings last week.? The IV is also in the middle of its range.
Last week a trader bought the July 14 calls for less than .50 since then PBI has continued to run higher.? Today, the trader decided to sell out and lever up.? He sold his or her Jul 14 calls getting .825 and then bought the 15 calls paying .45 a contract.? This is the most volume the name has seen in some time.
The trade has already ticked IV up higher, but it still remains low, if one was interested in piggy backing the trader, the 14 15 call spread might be a nice trade.