Paper bought the CRM Nov 77.5 ?strike du jour? w/ 7733 contracts trading against open interest of 1600.?
Salesforce.com Inc., trading 70.50 (down .02) with an IV30 of 28.90 and an HV10 of 34.46, is seeing bullish call action today.? The stock, with an ADV of 23,000 and an OI of 340,000 contracts, is seeing a customer chase after the November 77.5 calls.? A chunk of these were purchased tied to stock for 1.50 with the stock around 70.65.? Throughout the day, though, many more have traded via sweeps and outright call purchases.? On the day this ?strike du jour? has seen activity totaling 7733 contract so far against open interest of 1600 contract, thus these are opening.
This order appears to be a customer that thinks that the stock is going to move higher between now and November expiration. The customer could be looking for a pop around twitter, or potentially a rally coming out of earnings.
This trade should be considered bullish the underlying and volatility.