On the day, over 10,000 EGO July 5 calls have trade both tied and untied to stock.
Eldorado Gold Corp., trading 4.46 (up .20) with an IV30 of 67 and an HV10 of 70, is seeing call action today.? The stock, with an ADV of 4k and an OI of 125,000 contracts, is seeing active call buying in July 5 calls.? On the day, over 10,000 of the July 5 calls have trade both tied and untied to stock with two blocks trading .20 and .25.
The action in EGO suggests that there is a strong chance that the underlying could rally between now and July expiration back above 5 dollars a share.?? It touched that level briefly last week, and prior to that had not been above 5 in nearly 18 months.? The duration suggests the trader is looking for a move in EGO between now and July expiration.? This would do well on NO rate hike in June.
This trade is bullish the underlying and bullish volatitly.