The Powershares DB US Dollar Index (UUP), which, as of this writing, is trading at 21.44 with a vol of 5.25%, is seeing heavy call action today.? A customer has, so far bought 44,000 of the Dec 22 calls paying about .12 a contract paying up to a volatility of 6% (relatively high over the last 6 months)

This trade is a bet that the dollar is likely to strengthen over the next 5-6 months against other world currencies.? ? This could be related to Fed Chairman Yellen speaking today and tomorrow.? That said,? FX is such a massive market it can be hard to gauge what this option trader was trying to accomplish.

On its surface though, this trade should be considered likely bullish UUP and absolutely bullish currency volatility.