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.
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