Paper sold 5672 THO Jun 100 calls & bought 5672 Jun 105 calls for a net credit of 1.30.
Thor Industries Inc., trading 90.14 with an IV30 of 27.74, is seeing bearish call action today.? The stock, with an ADV of 1992 contracts a day and total open interest of 37,736, saw a customer open up a rather large short call spread in June.? The trader sold 5672 of the June 100 calls at 1.85 and bought the same number of calls on the 105 strike paying .55.? Net, the trader sold the June 100-105 call spread at 1.30.
This appears to be a ?credit spread? seller that is looking to collect premium in THO with today?s increase in IV (IV is up 1.3 percent today).? The customer is making a play that THO will not rally above 100 by June expiration, which would be a rally of more than 10% from the current level. Breakeven is 101.30.
This trade should be considered mildly bearish THO and aggressively bearish THO volatility.