Very Unusual Call Options: Intercontinental Exchange (NYSE:ICE), GoPro (NASDAQ:GPRO), Joy Global (NYSE:JOY), DISH Network (DISH)
It’s been a crazy busy day of solid and interesting, and sometimes unusual option trades. There’s been a good number of put option trades that caught our eye, but again, we like to focus on the call buys here at California Examiner. Luckily there’s been several interesting call buys so far! Four of the most intriguing call buys today have been seen in Intercontinental Exchange Inc (NYSE:ICE), GoPro Inc (NASDAQ:GPRO), Joy Global Inc (NYSE:JOY), and in DISH Network Corp (DISH).
Intercontinental Exchange Inc (NYSE:ICE) saw a savvy (in the know) trader sell 1247 January $175 puts at the bid of $2.63, and then buy 1247 January $220 calls at the ask of $2.93. The trader paid a net of 30 cents on this trade. Clearly this guy knows that ICE is going to be going much higher, thanks in part to Alibaba options that will be trading on ICE? There’s been a few copycat trades follow this traders lead. I think we also.
Intercontinental Exchange Inc (NYSE:ICE) is currently trading at $199.96 up $3.15 and and still trending higher into the afternoon session. ICE has a 52 week high of $229.50, and a low of $178.41 for the year. It’s traded just over 500,000 shares so far today versus it’s average volume traded of 800,000 shares.
The second unusual call buy came in GoPro Inc (NASDAQ:GPRO) which is no stranger to large, interesting call buys the past few weeks, which we’ve alerted here before. This time a trader bought 4584 of the GPRO January $70 calls paying $5.90 for them. At the same time, this trader SOLD 4584 January $80 calls at the bid of $2.90. So this opening spread cost the trader a net of $3.00 per contract. That makes for a transaction value of $1.375 Million,
GoPro Inc (NASDAQ:GPRO) is currently trading at $66.99 up $1.76 on the day, though well off its earlier high of $68.21 early this morning. GPRO has a 52 week high of $71.42 and a low of $28.65 for the year. It’s traded 3.53 million shares today so far, and normal daily volume is 6 million shares on average.
The third unusual call buy we like is in Joy Global Inc (NYSE:JOY). Today, a trader bought 3119 of the Sept $58 calls in JOY. This comes after some interesting call buying in JOY yesterday.
No surprise, Joy Global Inc (NYSE:JOY) is trading up at the moment, at $59.85, up $1.46 so far. JOY has a 52 week high of $65.36 and a low of $50.07. It’s traded just about double its average daily volume today with 2 million traded by 2pm. Very strane price action around 12:30 as the calls were bought.
And last but not least, another interesting call by was seen in the ever exciting DISH Network Corp (DISH). Just a few minutes ago, a trader bought 820 of the weekly October 3 $69.00 calls, paying 85 cents at the ask. Of course those same calls are now asking $1.10 so don’t bother jumping in on this just yet.
DISH Network Corp (DISH) is currently trading at $66.82, up $1.28 so far, and the momentum is still up for this stock. The transaction value for this option trade in DISH is only about $70,000, which actually makes this more interesting, almost like the trader went small, hoping no one will notice. We might nibble if the ask can get back down to 90 – 95 cents.
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