Size MDR Calls Trade
10,000 MDR May 7 calls traded through sweeps hitting multiple exchanges at once.
McDermott International, trading 6.63 up .13 with an IV30 of 51.80 and an HV10 of 42.20, reports earnings on April 25 before the open. Today traders are buying up calls in droves. The stock, with an ADV of 1760 and open interest of 48,000, saw over 10,000 calls trade. A trader bought, electronically over 10,000 of the May 7 calls paying .25. These trades have been done through sweeps hitting multiple exchanges at once.
This appears to be a straight call purchase and an opening win as these traders are against open interest of a touch over 5k contracts. The trader seems to think the stock is going to rally above 7.25 by May expiration which is the B/E point for this spread.
This trader should be considered aggressively bullish the underlying and volatility.
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