Today, there has already been over 56,000 EUO calls traded almost all of which are on February 28 calls in small and intermediate blocks.
UltraShort Euro Proshares were trading at 27.09 this morning, up .31. ?With an IV30 of 27.85 and a recent 10-day historical vol of 15.35, EUO is seeing bullish call action.? The name normally trades about 5,400 contracts a day and has an average open interest of just under 100,000 contracts.? Today, there has already been over 56,000 EUO calls traded almost all of which are on February 28 calls in small and intermediate blocks.
In what may be a ?newsletter? customers have been buying up these February calls for up to .90 a contract.? This strike on its own accounts for well over 90% of all trading in EUO today.? It is all opening as open interest on the strike is currently 264.? This is a play on EUO moving sharply higher over the next few months and is likely a play on interest rates.
This trade should be considered aggressively bullish EUO and EUO volatility.