In one block, paper bought 17,088 MDT Jan 77.5 calls paying 2.20.
Medtronic PLC (MDT) was trading at 76.55 earlier today. MDT, which has an IV30 of 20.39 and an HV10 of 18.75, is seeing bullish call action today.? In the name that has an ADV of about 9,200 contracts a day and open interest of 190,000 on average, a customer bought in one block 17,088 of the Jan 77.5 calls paying 2.20, this was the offer.?? We also saw call buying in Feb and December.?
On the day over 20,000 have traded against open interest of 23,000, there was a large block trade that went up on November 18th, and it?s entirely possible that this is a close against that trade (the stock had earnings this morning).? An alternative is that this is additional calls.
Regardless, this trade should be viewed as bullish the underlying and bullish volatility.