Shares of Unilever (UL) are trading higher on the session by 0.67%, at $37.54. The stock has been moving largely higher over the past four months, recently forming a bullish flag pattern.
Despite the potential for more upside, one trader is selling calls on UL today. A short while ago the November $35.00 call was sold 6,990 times, on the bid, for $2.50. The trade went off in three separate blocks of 2,330 contracts.
Given the current open interest of 2,331 contracts, there could be a few things happening here. This could be an opening bearish call sale, or perhaps the closing of an open position with the trader reversing opinion on the stock and selling additional upside exposure.
30-day implied volatility has popped 33.6% today to 30.48%, while 10-day realized vol is registering 19.38%.
Unilever PLC, is a supplier of fast moving consumer goods. The two parent companies, Unilever N.V. and PLC, together with their group companies, operate as Unilever Group.?