Paper bought 5,000 BUD Jan 2018 160 calls & sold 5,000 Jan 165 calls against it.
Anheuser Busch Inbev SA (ADR), trading 123.65 with an IV30 of 21.77 and an HV10 of 35.80, saw a large call spread trade in 2018.? The maker of beer has an ADV of 5250 and an OI of 201,000 contracts.? Today a customer bought 5,000 of the Jan 2018 160 calls for 2.64 against that the traders sold 5,000 of the Jan 165 calls at 1.85.? Net, the customer paid .79 for the 160/165 call spread going out 16 months.?
These are quite out of the money and appear to be a bet on the beer industry continuing to perform well as it consolidates worldwide.? The customer is hoping that BUD will be above 160 as we are ringing in 2018.? Based on the open interest on the strikes, this trade WAS an opening trade.
This trade is bullish BUD?and mildly bullish BUD volatility.