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On CNBC's "Options Action", Dan Nathan spoke about an unusually high options activity in General Electric Company (NYSE:GE). He said call volume on Monday was two times that of puts and it seems that there was a lot of rolling action.
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There was an interesting trade that caught Nathan's attention. When the stock was a little below $9, it looked like a trader sold to close 11,000 of the June 2019, 10-strike calls for 63 cents and bought to open 11,000 contracts of the January 2020, 10-strike calls for $1.23. The trader had to pay 60 cents for the roll and it looks like she or he is positioning for a move above $10, said Nathan.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.