Call volume in JetBlue is nearly 7x normal today (chart), with a block of 6000 August 5 calls sold for 20c on the PHLX when shares were near $4.17 this afternoon. Trade opens a new position and may be an overwrite of long stock, based on a view that upside beyond $5 level is likely this summer. Shares started the year near $7.70 and touched a low of 2.81 on March 5.

The activity is similar to trades seen in JBLU on June 9 and discussed in detail, here.