Calls Sold on Discovery Communications (DISCA)

Shares of Discovery Communications

are higher on the session by 0.18%, currently trading at $39.44. The stock has been on an amazing run higher over the past year and is nearing new highs. The stock is attempting to break out of a recent trading range. Options traders seem to be taking a bit of upside off the table today by selling calls; this would suggest that the trader has lower volatility expectations than the market is currently pricing in. The August $40 call was sold 1,080 times for $1.50 a short while ago; open interest on the strike is 1,022 contracts. Discovery Communications Inc. is a global media and entertainment company that provides original and purchased programming across multiple distribution platforms in the United States and over 170 other countries. Led by the Discovery Channel, Discovery offers over 100 worldwide networks offering customized programming in 38 languages.