Large Option Trade in PCS
MetroPCS (NYSE: PCS) saw a large 3-way option combo trade late Friday morning with the August 6 puts being purchased at $0.05 and the August 8-10 call spread being sold at $0.80.
All three components trade 30,000 times and the trade looks to be tied to $8.80 stock on a 69 delta. An investor could be closing out a bullish trade initiated in early May when PCS was trading at $7.50.
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