Paper bought 10,000 ETP Mar 50 calls & sold the March 60 calls for a net debit of .93.
Energy Transfer Partners LP, trading 41.45 with an IV30 of 31.15 and an HV10 of 62.75, saw a large call spread trade.? The stock, with an ADV of 7,100 and an OI of 209,000 contracts, saw a customer buy 10,000 of the March 50 calls for 1.08 and against it, sold the March 60 calls at .15.? Net the customer paid .93 for the March 50/60 call spread.
This is likely a directional bet on ETP with the customer thinking that ETP will move back toward 50 by March, a level it has not seen since August of 2015.? The move would be a 20% gain in the underlying and profits above 50.93.
This trade is bullish the underlying and bullish volatility.