Big move expected in U.S. Airways

A large trader is looking for a sharp move in U.S. Airways as shares continue to slide.

optionMONSTER’s Heat Seeker system detected the purchase of 16,000 June 30 calls in one print for the ask price of $0.66 yesterday on a wide bid/ask spread. The previous open interest in the strike was just 735, showing clearly that this is a new position.

Seconds before that trade, 272,000 LCC shares were sold for $22.0324. Combined with the calls, this creates a delta-neutral position that is long volatility and/or is aimed at a big move higher or lower.

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