Updated. Apollo (P/C Chart, news, chart, volatility) May 95/115 call spread is seeing some action Friday. Shares are down 60 cents to $82.23 and the top trades of the day hit early when 3,000 May 95 calls traded near the offering price for $5.56 while 3,000 May 115 calls traded on the bid for $1.40. According to an exchnage-floor contact, the spread traded was tied to 72,000 shares, or on 24 delta. In any event, the activity seems to reflect a bullish veiw on the education company. The strategist paid $4.16 (excluding commissions) and has a potential payoff of $15.84 if APOL rallies to $115 or more by the May options expiration. The spread was repeated more than once and volume in both contracts exceeds 5,000.