Options Trading News

September 21, 2016  Wed 6:14 AM CT


A trader apparently believes that upside potential is limited in Macerich.

optionMONSTER's tracking programs detected the sale of 2,000 November 85 calls for $0.90 at the same time yesterday. There was no open interest in the strike before the trade occurred, showing that this is a new position.

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)

MAC fell 0.91 percent to $80.28 yesterday and is down 2 percent in the last month. The shopping-mall owner is scheduled to announce quarerly results after the close on Oct. 27.

Overall option volume was 5 times greater than average in the name yesterday.

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