Heavy call volume detected in Safeway

A big block of calls traded in Safeway, but it was done against shares.

A block of 8,250 April 36 calls on the supermarket chain crossed optionMONSTER’s tracking systems for $1.45. That was against open interest of 6,151 and it traded at the listed ask price, suggesting that the calls were bought.

Just before the calls went off, the largest block of SWY shares traded with 825,000 went off for $37.30. The calls are in-the-money, so this could have gone off a couple of ways. It could be that the stock was bought and the calls sold as a covered call.

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