Big Print in Williams Companies (WMB), as the Aug 30 – 35 call spread is bought at $1.78, 45000X. It probably rolls a position down in strikes. Aug 35 calls have sufficient open interest to cover and saw opening activity on 4/29 and 5/4 (see 5/4 color). The company reported earnings on 5/4. WMB traded down 4.7 percent in the two weeks that followed, but are up 4.7 percent since May 16. Shares of the natural gas producer are rallying 58 cents to $31.24 in active trading today.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.