8,000 BBRY Jan 9.5 calls for .245 on splits tied to stock on about a 44 delta.?
BlackBerry LTD currently trading 9.22 with an IV30 of 44% and an HV10 of 61.56 is seeing call action.? The stock with an ADV of 18500 contract and Open interest of 750,000 saw a customer buy 8,000 of the Jan 9.5 calls for .245 on splits tied to stock on about a 44 delta.? This trade essentially converts the 9.5 call purchase into a straddle where the customer is hoping that BBRY moves away from the 9.5 strike, although it does have a slight preference that the stock move higher vs lower.
This trader likely believes that BBRY is going to be moving away from the 9.5 strike and likely higher rather than lower.? This would be an interest play on a near term buy out, or some sort of large near term move in BBRY
Trade should be considered slightly bullish BBRY and aggressively bullish BBRY volatility.