If the stock does rally the customer is going to be long HSY exposure out the yin yang heading into May.?
Hershey Co. (HSY) is at 88.81, down 1.10. HSY has an IV3 of 35%, an HV 10 of 21.6, an ADV of 1725 and open interest of 55,500 contracts. HSY is seeing bullish call action today in which customer bought 4800 of the May 105 calls tied up along with several call sweeps totaling just under 5700 contracts with the top price paid being 2.00 a contract.
This appears to be a bullish trade that may be associated with a small bit of stock replacement.? If the stock does rally the customer is going to be long HSY exposure out the yin yang heading into May.? However, if the stock drops the customer will have taken some of his or her position off.? This also might be a straight play on volatility with the customer making a bet that any move through 100 will be swift as such that his or her 2 dollar purchase can make money.
The trade is aggressively bullish the name and volatility.