Aetna (AET) loses 36 cents to $41 and a June – July 43 call spread trades on the stock at $1.11, 10000X. Looks like a roll of a bullish position opened May 22 when more than 10,000 Jun 43 calls traded, including an 8,160-lot for 63 cents per contract. Shares are not much changed since that time, but time decay has taken its toll and 10,000 traded today at 38 cents. The strategist is now buying more time and initiated a new position in 10,000 July 32 calls for $1.49 per contract. Aetna was the subject of bullish trading in July options last week as well (see 5/24 color).
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.