Paper sold NKE March 62.5 calls at .21 bought the March24 (weekly) 62.5 calls for 1.36.? The total block of trade was 5300 with 7,000 or more trading in total.?
Nike Inc., trading 61.67 with an IV30 of 31.85 and an HV10 of 27.72 saw a bull calendar trade.? The stock with ADV of 25,300 and OI of 370,000 contracts, had a customer sell the March 62.5 calls at .21 and buy the March24 (weekly) 62.5 calls for 1.36.? The total block of trade was 5300 with 7,000 or more trading in total.? Net the customer paid 1.15 for the weekly calendar.
NKE has earnings on March 22, and this appears to be a customer that expect NKE to rally over the next couple of days and/or is attempting to get the March24 calls for 1.15.? The trader wants NKE to rally and would love a big pop next week.
This trade should be considered bullish NKE and Bullish NKE vol.