Calls Sold in Lamar

Shares of Lamar Advertising (NASDAQ: LAMR) are on the rise this morning to $32.15, up 1.71% on the session, but one trader is taking some profits in the name. The May $35 call was sold near the bid 1,000 times for $0.50 a few minutes ago. Open interest on that line was above the trade volume, which suggests that a position was closed and profits taken.

Lamar Advertising was raised to “Outperform” this morning by Oppenheimer after the company reported lackluster earnings and guidance.