On the day, traders have bought over 4800 AKAM Aug 53.5 calls with the largest block being just over 1000 for .21.
Akamai Technologies Inc., trading 52.93 with an IV30 of 27.07, is seeing bullish call action today.? The stock, with an ADV of 3125 and open interest of 55,750 contracts, is seeing heavy call buying on the August 53.5 calls expiring this week.? On the day, traders have bought over 4800 of these August 53.5 calls with the large block being ?just over 1000 for .21 and many other blocks trading all the way up to .45.? With an OI on the strike of just 48 contracts, this is all opening paper.
This appears to be a customer that thinks AKAM is going to have a strong week higher.? The stock is up almost 2% today, the customer is looking for more follow through as the stock will need another 2% move higher for the net price of these calls to win at expiration on Friday.
These calls are aggressively bullish the stock and bullish volatility.