MTL was trading at 1.88 earlier today when a customer executed multiple call sales.? The trader sold about 11,000 of the Jan 2015 5 calls collecting .10 a contract.? The trader also sold 10,000 of the October 2 calls collecting .30.? In both cases the volume appears to be opening.
This is likely a customer that is long the underlying and is looking to produce some sort of income on a name that he or she expects not to rally TOO hard in the next few months.
This trade should be viewed as mildly bullish the name and bearish volatility.? Traders looking to piggy back should consider going long the stock.