Net, the trader paid about 1.133 for each MPC 3-lot sold against every 10-lot bought.? A premium outlay of about 340,000 dollars.
Marathon Petroleum Corp., trading 31.81 with an IV30 of 49.40 and an HV10 of 56.6, saw a large call ratio trade today. The stock, with an ADV of 4900 and an OI of 95,000 contracts, saw a trader execute a March/April roll that went out, up, and increased the size.? A trader sold 3000 of the March 30 calls at 2.70, against an OI of 8300, thus likely a close. Then against, paper bought 10,000 of the April 35 calls for 1.15 against open interest of 600 contracts, thus certainly an open.? Net, the trader paid about 1.133 for each 3-lot sold against every 10-lot bought.? A premium outlay of about 340,000 dollars.
This is clearly a trader that executed a March call purchase somewhere near MPC?s lows made money and then is taking that premium moving his or her strike price higher and increasing the size of the trade substantially
This trade should be considered aggressively bullish MPC and bullish MPC volatility.