TripAdvisor trade sees cap on upside
Chris McKhann | [email protected]
optionMONSTER's systems show that 5,000 January 41 calls have traded against open interest of 1,146 this morning. The big block of 4,200 was sold for the bid price of $1.
The calls weren't traded against any stock today so far as we can tell, so it could be outright selling with an initial bearish bias. Or they could have been sold against an existing long position in a covered call trade, which would be bullish up to the strike price but not beyond.
TRIP is down fractionally at $39.22. Earlier this morning shares were at their highest since July 24, after which they gapped lower on poor earnings. The travel-review site's stock bounced off support around $30 going into November.