Paper bought 10,000 NOK May 6 calls & 4,000 NOK June 6 calls, paying .12 and .15, respectively.?
Nokia Corp., trading 5.73 with an IV30 of 38% and an HV10 of 18.30, saw bullish call action today. A customer bought 10,000 of the May 6 calls and 4,000 of the June 6 calls, paying .12 and .15 respectively.? All told, over 20,000 upside calls have traded today, almost all buys, this in a name that trades about 4100 contracts a day and has an OI of 225,000.
The stock has earrings tomorrow before the open; this appears to be upside call plays on NOK having a decent sales cycle and/or outlook for its phones.? The customers appear to be looking for 10% upside in the name or better as that is where these calls buys tend to pay out.
These should be considered massively bullish both vol and the underlying.