On the day over 104,000 GE Oct 33 calls have traded hands most on one print of just under 88,000 with an additional 10,000 printing on another trade.
General Electric, trading 31.78 with an IV30 of 16.91 and an HV10 of 34.58, has earnings coming up on July 22.?? The purveyor of lightbulbs has an ADV of 73,000 and an OI of 2.46 million contracts.? In one trade a customer has execute far more than the normal ADV on the October 33 strike, buying the calls for .54, tied to stock.? On the day over 104,000 calls have traded hands most on one print of just under 88,000 with an additional 10,000 printing on another trade.
This appears to be a customer that thinks IV is low in GE and the stock is likely to rally between now and October.? If GE does rally the customer is in line to do extremely well.? As it is tied up, the customer will do okay if he or she is wrong as well.
This is a bullish play for both volatility and direction.