Virgin Media (VMED, news, chart) is seeing bullish order flow in midday action. The company is due to report earnigns tomorrow morning (3:00 a.m. Eastern time). Options volume is running four times the usual and directional sentiment based on the flow is 95 percent bullish ahead of the news.
The stock is down 17 cents to $11.17 and 8,300 VMED calls have traded, compared to 150 put options. The December 12.5 calls are seeing the bulk of the volume, with 7,900 contracts traded and 97 percent trading offerside. With open interest of only 336 contracts, the activity hints at speculative call buying in anticipation of a post earnings rally in VMED.