Call selling sees limited upside in Activision Blizzard.
A trader sold 4,990 August 24 calls for the bid price of $0.29 today, according to optionMONSTER systems. This is a new opening position, as its volume was more than 10 times the previous interest in the strike.
The calls do not appear tied to any trading in ATVI stock identified by our scanners today, so they could have been sold naked with an initial bearish bias. Alternatively, they could have been traded against an existing long position to create a covered-call strategy, which would be bullish up to the $24 strike price but not beyond.
— Option Monster