Vodafone (VOD) adds 30 cents to $30.74 and a Jan 30 – 33 call spread trades on the stock for about $1.26, 30000X. Looks like it rolls Jan 30s (at $1.96 today) that were being bought-to-open in early July for $1.35 and $1.40 per contract (see 7/9 color). The flow at that time was rolling out of July and Oct 30 calls. Now, after a 7.3 percent move higher in shares, in-the-money Jan 30 calls are being rolled to OTM Jan 33s (for 70c) and the positoin adjustment seems to be expressing additional confidence in VOD for the rest of 2013.
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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.