Calls Trade In CAKE
Shares of the Cheesecake Factory Inc. (CAKE) are trading up .83 to 48.46 today. CAKE is trading near the 52 week high.
Today paper traded 105 CAKE May 47/50 call spreads for 1.45.? The ADV is 890 contracts.? The OI is under 30 contracts.
The volume went in in two blocks through the posted market.? Subsequent volume went up in small pieces where the 47 where mostly near the offer and the 50s mostly near the bid.? This could be a long call spread newsletter type trade looking for higher CAKE prices.
30-day implied volatility is 48%.?? 10-day implied volatility is 19%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery businesses. As of February 28, 2013, it operated 177 Company-owned upscale, casual dining, full-service restaurants: 162 under The Cheesecake Factory mark, 14 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark.