Paper bought thousands DUST March 5 & April 5 calls, the biggest trade being the April 5 calls tied to stock for .45.?
Direxion Shares Exchange Traded Fund Trust, trading 3.95 (up .46) with an IV30 of 165, saw call action today.? Traders have been buying up upside calls in March and April while selling way OTM calls in June.? Traders have bought thousands of the March 5 calls paying up to .15 and the April 5 calls paying up to .45.? The biggest trade being the April 5 calls tied to stock for .45.? Against these trades there have been sellers of the June 7 calls (separately).? All told the name has seen over 17,000 calls trade.? This is a name with an ADV of 7700 and OI of 130,000 contracts, a ratio of over 16 to 1 puts to calls.
The call sweeping and purchases appear to be a play on golds short term continued recovery.? Traders are betting that DUST will be above 5 by March and well above that level buy April
This trade should be considered bullish the underlying and bullish volatility.