Paper bought over 8600 GNC March 5 calls & continue to bid at these calls.? The largest blocks being 4000 for .30 and another 4200 for .35.
Encana Corp., trading 4.46 (up .10) with an IV30 of 92.96 and an HV10 of 137.90, saw a call buyer today.? The stock, with an ADV of 4200 contracts and OI of 130,000, saw aggressive call buying on the March 5 strike.? Traders have bought over 8600 of the March 5 calls on the day and continue to bid at these calls.? The largest blocks being 4000 for .30 and another 4200 for .35.
This is a direct play on ECA moving higher above 5.3-5.35 between now and expiration. These have traded all over through market sweeping on multiple exchanges.?
This trade is aggressively bullish ECA and Bullish ECA volatility.