Bullish Call Spreads In Vodafone

Mobile telecommunication services provider Vodafone Group Public Limited Co. (Nasdaq: VOD) has seen two large call spreads trade late Friday morning and both look like an investor is taking profits while maintaing a bullish sentiment.

On July 24th with Vodaphone trading around $27.60 an investor purchased 30,000 October 30 calls at $0.20 and 10,000 September 29 calls at $0.30. Both were tied to small blocks of stock. Today's spreads involve the sale of the 30,000 October calls at $0.80 with the proceeds used to buy 30,000 October 32 calls at $.20.

The September position was also rolled with those 10,000 calls being sold at $1.15 with profits used to buy 10,000 of the October 31 calls at $0.40. It looks like today's spreads were tied to shares at $29.72. It appears someone is playing this stock perfectly and feels there is more upside in the stock over the next couple months.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.