Tyson Foods is rallying in the face of today’s market downturn, but one large trader apparently believes that further gains will be limited.
optionMONSTER systems detected the sale of 5,600 January 40 calls in one block for the bid price of $1.65 this morning. The volume was above the strike’s previous open interest, so this is clearly a new position.
This could be the work of a trader rolling a short-call position forward, as there was some buying in the November 38 calls earlier in the day. At that time 2,954 of those calls were bought for the ask price of $1.65 in volume below open interest of 3,005.
— Option Monster