Call Spread Purchased on LG Display (LPL)
Shares of LG Display Co. (NYSE: LPL) are currently lower on the session by 4.90%, currently trading at $16.11. The stock has been trading largely lower over the past three months and is currently in a technical downtrend.
Options traders are betting that the stock can rally from here. The August $15/20 call spread was purchased 500 times earlier in the session for $1.45. There was no open interest on either strike. Max gain on this trade is $3.55 or 244%.
Call volume is now running at 3.70x the daily average.
LG Display Co., Ltd. is a Korea-based company engaged in the manufacture of thin-film transistor liquid crystal display in a range of sizes and specifications primarily for use in televisions, notebook computers and desktop monitors. It is also a supplier of high-definition television panels.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.