Trading at 94.00, up 2%, a customer did a complex spread selling the SIAL Jan 90 calls calls about 4,000 times then buying the Jan 95, Feb 95, and Apr 100 calls 12,000 times.? This appears to be a customer taking a winner off (the Jan 90 calls) and tripling down across multiple months.
This trade should be viewed as aggressively bullish both the name and volatility.? This is also a customer that was already right once, thus he or she might have a good handle on the name.? Especially considering the percentage of open interest this customer represents. ?
Traders looking to piggy back this name should consider looking at some sort of bullish diagonal buying april or July 95 calls and selling the pars.