Time Warner Cable appears to be the target of a volatility play as shares trade just off their highs.
TWC is off fractionally at $88.95 in midday trading after touching an all-time intraday highs of $90 on Friday. Shares of the cable provider have been trending higher since the end of November, when they traded just above $57.
The August 85 puts make up almost all of the volume in the name so far today, with 5,000 trading against open interest of 1,990. optoinMONSTER’s Depth Charge system shows that blocks of 2,700 and then 2,300 were bought for the ask price of $0.20 about 11 minutes apart.
— Option Monster