ATP also expanded the capped call spread
to cover all 14.1m shares that are eligible for conversion in this transaction as well as the shares convertible in the original September 2009 convertible perpetual preferred series.
The strategy that employs a combination of call options is termed 'bear call spread
', while the one that uses put options is termed 'bear put spread'.
THE bull call spread
strategy is an extension of the long call strategy, which we had explained in our October 2009 issue (Take a Call).
buyer extends bullish XRAY vision from June to July.
Size matches one leg of the June 43/44 call spread
bought on May 9th against a sale of June 38 puts for a 3c debit when shares were near $41.73.
in Cara Therapeutics expresses a bullish view.
Notable call spread
in Invesco QQQ as shares ease off record highs.
Shares down $2.80, or nearly 5%, to $50.82 at midsession with calls leading puts 5:1 and 82% of today's flow in the October term, including the Oct 55/57.5 and Oct 52.5/60 call spreads
. Largest block was 2483 Oct 52.5/60 call spreads
crossed electronically on the CBOE for $1.92 just after 12:32PM ET when shares were $50.77, with the same spread printing on the ISE at the same time 1241x in flow marked closing customer.
Geman, 1995, "Pricing Catastrophe Insurance Futures and Call Spreads
: An Arbitrage Approach", Journal of Fixed Income, March:46-57
After an impressive rally for gold and gold-related firms, GDX is slightly lower this morning down 14c, or .5%, near $26.00 for a month-to-date gain of nearly $4.40, with a large package trading on the CBOE where a customer sold 25K July 24/26 call spreads
for 1.42 and bought 18500 Aug 27/29 call spreads
, 48c, and 25K Aug 28/30 call spreads
in Verizon as bullish positions are adjusted.
Sep 27 call spreads
bought for $1 - 22K JD Jun 26 - Sep 27 call spreads
bought for $1.