105:1 PNK Call-Put Ratio
Pinnacle Entertainment Inc trading 38.37 down .53 with an IV30 of 29.24 up 2.4% saw a large call roll today.? A trader that was long the September 35 and 36 calls as part of a risk reversal expected in February closed his or her long position and rolled it back and up to December.? The trader sold 10,000 of the Sep 35 calls at 3.55 and 2500 of the Sep 36 calls at 2.70 to buying 20,000 of the Dec 39 calls for 2.05.? This was done all at once as a ratio spread, 1 by .25 by 2
ADV for PNK is 22,00 contracts a day. ?Today the total volume is just under 34,000 almost entirely from the above trade as calls are outpacing puts by 105 to 1.
This trade should be considered aggressively bullish both the underlying and the stock as the trader is making a strong bet that the underlying is going to move above 41 bucks a share in the next 4 months.