FE was trading at 32.5 earlier, and saw a huge spike in both volatility and volume today.? A customer bought a huge chunk of April 35 calls totaling over 8,000 initially, and additional 10,000 or so calls have traded in the January options across multiple strikes.
30 day IV has skyrocketed from below 19 to over 27%.? Traders are buying options up in droves against the April trade.? Additionally the entire upside of the curve has shift higher.? This action should be considered aggressively bullish
Traders looking to piggyback could should consider the Jan 32/35 call spread for less than 1.00.