100,000 GM Jun 39 calls traded tied to 3,800,000 shares of GM (a 38 delta) for a price of 36.8632
General Motors Company, trading 36.82 (down .02) with an IV30 of 22.78 and an HV10 of 17.75, saw a large bull call trade.? The stock, with an ADV of 67k on OI of 1.55 million contracts, saw a customer buy 100,000 of the June 39 calls tied to stock 3,800,000 shares of GM (a 38 delta) for a price of 36.8632.? This trade went up in one block and appears to be a cross (customer to customer).
The trader thinks the stock is either going to make a quick move higher or move itself lower between now and June expiration.? The customer will do exceptionally well if in the next month or two GM runs to 40 or higher.? He or she will also do somewhat well if the stock falls lower.
This trade is moderately bullish GM and aggressively bullish GM volatility.