Trader Looks For Big Move In Comcast

Comcast has climbed to a 12-year high, and now one large trade is looking for a spike in either direction.

CMCSA rose 0.14 percent on Friday to close at $35.34, off its session high of $35.45. The only other time that the media giant was above $35 was a very brief trip to its all-time high in December 1999. Shares have run up from below $20 at the October low.

Dominating the option volume in the name is a large print in the January 2014 25 puts, according to optionMONSTER’s Depth Charge tracking system. A trader bought 8,000 of those puts for the ask price of $1.37 on a relatively wide bid/ask spread. Open interest at the beginning of the day was 2,746, so this is clearly a new position.

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