Paper bought 10,000 DATA May 55 calls & sold 10,000 DATA May 60 calls, for a net 1.00 debit.
Tableau Software Inc., trading 49.06 (up 1.03) with an IV83 of 70.40 and an HV10 of 51.20, saw a large call spread buyer today.? The stock, with an ADV of 2900 contracts and OI of 43,000 saw a customer buy, to open, 10000 of the May 55 calls for 1.85.? Against this, the trader sold 10,000 of the May 60 calls at 1.85.? Net, the customer paid 1.00 for the May 55/60 calls spread.? This was an opening trade as there is minimal open interest.
This is a bullish trade that is about 20% out of the money.? DATA has earnings on May 5, so this is a likely a play on earnings.? The customer is going to do extremely well if the stock pops 20% or so as his or her expiration breakeven is 56 dollars in the underlying.?
The trade should be considered bullish DATA and Bullish DATA vol.