Paper bought 15,000 STZ 155/160 call spreads for .95.? Based on the trade size and the OI this is an opening trade.
Constellation Brands Inc., trading 153.04 (down 2.07) with an IV30 of 25.5 up 2.84% and an HV10 of 21.30, saw a large June call spread trade.? In large blocks, paper bought the June 155/160 call spread.? The stock has an ADV of 2750 and an OI of 57,000 contracts saw a customer buy in blocks of 15,000 the June 155 calls paying 1.10 and sold the same number at .15.? Net the customer bought 15,000 for the 155/160 call spreads for .95.? Based on the trade size and the OI this is an opening trade.
This is a customer that is likely looking to take advantage of the recent softness in constellation.? If STZ rallies 4% he or she is in a position to do extremely well and the payout of greater than 4-to-1 is quite favorable.? Based on the duration the move is expected to be soon.
This trade is bullish STZ and STZ volatility.