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September 23, 2016  Fri 5:47 AM CT

DIS: SEE CHART GET CHAIN FIND STRATEGIES

The long list of call selling in Walt Disney is getting even longer.

optionMONSTER's monitoring systems detected the sale of more than 10,500 December 100 calls for $0.71 to $0.73 yesterday. These represent new positions, as open interest in the strike was a mere 85 contracts before the session began.

Short calls generate income and lock in the price where a stock must be sold. The trade is usually done in conjunction with long shares in a covered-call strategy, reflecting a belief that gains will be limited through expiration. (See our Education section)

DIS rose 1.1 percent to $93.41 yesterday but is down 6 percent in the last three months. The media and entertainment giant reported bearish results on Aug. 9 and is scheduled to announce its next earnings numbers after the close on Nov. 10.

Overall option volume in the name was twice its daily average yesterday. The activity was the latest in a long string of heavy DIS call selling in recent months, as shown below in the screen shot of our sorted Activity Log:

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