Paper bought 24,000 VNQ Sep 91 calls for .55 tied to stock.
Vanguard REIT Index Fund, trading 84.40 (down .77) with an IV30 17.02 with an HV10 of 18.18, is seeing bullish call action today.? The stock, with an ADV of 1500 and an OI of 94,000, saw a customer buy 24,000 of the Sep 91 calls for .55 tied to stock in one print.? The open interest on the strike is 0 so this is certainly opening.
This customer is hoping VNQ moves higher between now and September expiration that VNQ moves significantly higher. ?This stock has been on a tear but has recently backed off a few dollars.? This could be trader trying to ?cherry pick? a bottom.
This trade should be considered aggressively bullish both the underlying and vol.