Traders have been buying OAS March 6 calls for .60 all day outright, untied to stock, through auto execution
Oasis Petroleum Inc., trading 5.13 (down .14) with an IV 30 of 128% and an HV10 of 168%, is seeing bullish call flow.? The stock has an ADV of 6300 contracts and OI of 114,000. Today traders are buying the March 6 calls in bulk.? Traders have been buying the March 6 calls for .60 all day outright, untied to stock, through auto execution. The largest block being 6,000 in one trade.? On the day 8750 have traded, all opening.
This trader is either hedging a short (possible) or looking for a true bounce in OAS between now and March expiration (more likely).? The trader is hoping that OAS settles above 6.60 by the middle of March.? This is a play on an oil rebound.
This trade is aggressively bullish the underlying and implied volatility.