Paper traded 10,234 SE April 31/Sep 34 call rolls collecting .30 per spread.?
Spectra Energy Corp., trading 30.82 (down .26) with an IV30 28 with an HV10 of 38.00, saw a call roll go up.? A customer who was short the April 31 calls closed the strike for .25 and rolled the calls out to the September 34 strike collecting .55. Net, the customer did the April 31 Sep 34 call roll collecting .30 per spread.? This went up in one block of 10,234 and likely is an income play against existing stock.
This was likely customer that owns SE stock and was looking to collect income against the position.? However, the trader seemed unwilling to put his or her stock up at risk of being called away because with the stock still .20 below the strike the trader paid .25 to close the short strike being threatened this week and moved it up 3 points and out 5 months.
This trade should be considered mildly bullish the stock and bearish volatility.