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December 27, 2012  Thu 11:13 AM CT

SBAC: SEE CHART GET CHAIN FIND STRATEGIES
SBA Communications has been climbing all year, and a large trade sees gains holding for the cell-phone tower operator.

More than 9,100 of the SBAC options have changed hands so far today, compared to a daily average of just 429 contracts. A trader sold 6,500 March 65 puts for $0.90 in volume that was 10 times the previous open interest and therefore a new position, according to optionMONSTER systems.

The put selling is a bet that SBAC will hold above $65 through expiration in mid-March. The trader is also showing a willingness to buy shares on a pullback below that level. (See our Education section)

SBAC is down 1.18 percent to $69.59 in early afternoon trading. Shares have been trending steadily higher from below $35 last October and posted a 52-week high of $70.98 on Monday.
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Options Academy: Ron's Risk Calculation--A Real Life Example

It is rare that I get a chance to give a real-life, real-time example in my articles that the readers were not only following but were actually involved in at the time the event is happening. Well, that is where we are right now in our QQQ trade from last week. Let's recap the trade itself.

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