Huge Call Spread Trades on News Corporation

Shares of News Corporation

are lower on the session by 0.28%, currently trading at $16.14. The stock has been moving largely lower over the past three months, but it is currently consolidating at the 50-day average. Options traders are focusing on calls today. A short while ago the January 2013 $20.00 call traded 50,000 times on open interest of 656 contracts. The Jan2013 $25 call also traded 50,000 times on open interest of 224 contracts. This is clearly a call spread. News Corporation is a diversified global media company. The company operates in six segments: Cable Network Programming; Filmed Entertainment; Television; Direct Broadcast Satellite Television; Publishing, and Other.