Traders began turning bullish on Williams earlier this month, and the upside activity is accelerating today.
optionMONSTER’s Heat Seeker system shows that 6,000 November 33 calls have traded against open interest of 5,543 contracts in less than 2 minutes this morning. The options appear to have been bought, with premiums starting at $0.17 and rising steadily until a single print of 4,619 traded at the ask price for $1.25 as the stock price rose.
On July 10 we saw an enormous short-put roll in the name as one investor apparently indicated a belief that the stock was ready to rebound. That was followed by outright bullish call buying onJuly 13. (See our Education section)
WMB is up 1.13 percent to $31.40 with the broader market down today. Shares of the natural-gas pipeline operator have risen sharply since bouncing from a low of $27.25 on June 25, reflecting bullish sentiment through the energy sector recently.
— Option Monster