Bulls come back for more in Williams
Mike Yamamoto | email@example.com
optionMONSTER's Heat Seeker system shows that 6,000 November 33 calls have traded against open interest of 5,543 contracts in less than 2 minutes this morning. The options appear to have been bought, with premiums starting at $0.17 and rising steadily until a single print of 4,619 traded at the ask price for $1.25 as the stock price rose.
On July 10 we saw an enormous short-put roll in the name as one investor apparently indicated a belief that the stock was ready to rebound. That was followed by outright bullish call buying on July 13. (See our Education section)
WMB is up 1.13 percent to $31.40 with the broader market down today. Shares of the natural-gas pipeline operator have risen sharply since bouncing from a low of $27.25 on June 25, reflecting bullish sentiment through the energy sector recently.
Today's long calls are looking for the stock to rise roughly 9 percent by the time they expire in mid-November. Total option volume in the name so far today is 25 percent higher than its daily average, with calls at all strikes outpacing puts by 5.5 to 1.