Paper sold to open 16,500 EGO October 5.50 calls at .20.
Eldorado Gold Corp., trading 3.54 (down .03) with an IV30 of 70.40 and an HV10 of 57.20, saw a large call seller today.? The stock, with an ADV of 2700 contracts and OI of 125,000, saw a customer sell 16500 of the October 5.50 calls at .20.? This was an opening trade as there is minimal open interest.
This is likely a long holder of Eldorado that was looking to produce some income in the name and participate on continued upside in EGO.? The customer will make money on a rally all the way up to 5.70.? If the stock does not rally past 5.50 the customer keeps the .20 and the stock.
The trade should be considered bullish EGO and bearish EGO vol.