Paper bought a large block of TSL Sep 9 calls for .33.
Trina Solar Limited (ADR), trading 7.09 with an IV30 of 68.5 up 7% and an HV10 of 40%, is seeing large call action today.? The Stock, with OI of 110,000 and an ADV of 1400 contracts, saw a customer buy a large block of the September 9 calls totaling 5843 in the largest block.? The customer paid .33 for the calls and it appeared to be an untied trade.
The customer is looking for TSL to rally between now and September expiration above 9.33 and given that this is a 7 dollars stock is also looking for IV to potentially pick up on the trade as well.? This is likely is certainly a play on the underlying moving higher.
This trade should be considered aggressively bullish the underlying and volatility.