Packaging Corp (PKG) is flat at $30.28 and an Aug – Sep 30 call spread trades on the stock for 60 cents, 1000X. It probably rolls a position opened on 6/20 when the stock was near $28 and 1,000 Aug 30 calls traded in smaller lots for 40 cents. If so, they’re closing today at 45 cents and looking for further gains — opening in Sep 30s for $1.05.
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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.