Massive SBUX Ratio Call Spread Trades
6000 by 12000 SBUX Apr28 57.5 and 59.5 calls over 61.5/63.5 calls went up in 4 blocks on the PHLX marked spread.
Shares of Starbucks Corp (SBUX) are up 1.00 to 60.03 today. SBUX is near the top of the 52 week range.
- Paper traded 6000 by 12000 SBUX Apr28 57.5 and 59.5 calls over 61.5/63.5 calls for 2.96/1.51 and .57/.16.
- The ADV is 37k contracts.
- The open interest is 6000+ on the 57.5s and 59.5s and less than 100 on the 61.5s and 63.5s.
The volume went up in 4 blocks on the PHLX marked spread. This combo is very odd since as priced the trader would be closing the long lower strikes and selling twice as many upper strikes into the earnings announcement. This is one to check the OI on but either way the trader is selling the upside calls through the bid so they are expecting very little on the upside in SBUX earnings.
- IV 30 is trading for 20%.
- HV10 is trading for 9%.
- IV 30 is above the HV 10.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee.
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