Paper sold 5322 ILMN Jan 135 calls at 8.50 & bought 5322 Jan 145 calls for 4.10.
Illumina Inc, trading 140.58 (up 6.02) with an IV30 of 53.55 and an HV10 of 21.90, is seeing bullish call action today.? The stock, with an ADV of 3,888 and an OI of 79,000 contracts, is seeing heavy call volume today.? While there are lots of call sweeps at the Jan 160 strike the largest trade of the day is a call roll from the Jan 135s to the Jan 145 calls.? A trader sold the Jan 135 calls at 8.50 5322 times and against this bought the Jan 145 calls for 4.10 5322 times.
This appears to be a trader that was long the 135s taking a winner off on a big up day, but then rolling the position higher to capture more upside.? This trade is essentially the trader taking delta off the table and putting money in his or her pocket, but still maintaining good upside and acceleration if the stock takes off.
This trade is neutral the stock and bullish volatility.