Paper bought 31250 JNK June 35 calls paying .30, tied to stock. The OI on the strike is 488, so this is opening
SPDR Barclay Capital High Yield Bond ETF, trading at 34.96 with an IV30 of 10.3 and an HV10 of 6.45, is seeing heavy call action.? The name which does an ADV of 2655 and has OI of 113k, did more than 10X its volume in 1 trade.? Today customer bought, 31250 of the June 35 calls paying .30, tied to stock. The open interest on the strike is 488, so this call purchase is opening.
Considering this is right ATM this customer is making a bet that JNK is going to move away from 35 with a bias of higher vs lower.?
Trade leans bullish slightly and is aggressively long volatility.