Citigroup calls are hitting the tape today as a trader remains bullish.
optionMONSTER systems show that 4,086 of the December 45 calls were sold for $8.50 against previous open interest of 8,314 contracts. At the same time, the same number of the June 50 calls were purchased for $5.85 in volume above that strike’s open interest of 3,047, so that is a new position.
The investor is rolling the December long calls to a higher strike six months later as shares move higher. The trader is taking some profits off the table while keeping a high delta with significant exposure to further potential gains.
— Option Monster