Bullish wager upsized in T-Mobile
David Russell | email@example.com
optionMONSTER's Heat Seeker monitoring system detected the purchase of 9,000 November 28 calls for $1.14 and the sale of 6,000 November 26 calls for $2.175. Volume was below open interest at the lower strike, which indicates that an existing position was closed and rolled up.
The investor collected a credit of $279,000 and remains exposed to further upside in the wireless communications name. He or she also increased the number of contracts owned, which will provide them with even more leverage if shares continue to advance. (See our Education section for how to manage trades more effectively with options.)
TMUS is up 1.6 percent to $27.88 in afternoon trading and has roughly doubled in the last year. Formerly known as MetroPCS Communications, the company drew repeatedly bullish activity in March and April before running higher. It then consolidated before working its way higher in the last two months.
Total option volume is 6 times greater than average so far in the session, according to Heat Seeker. Calls outnumber puts by more than 100 to 1.