Schaeffer's Option Blog: Rolling Out Calls on Lowe's Companies (LOW)?

Schaeffer's Option Blog: Rolling Out Calls on Lowe's Companies (LOW)?

CINCINNATI--(BUSINESS WIRE)-- Lowe's Companies (NYSE: LOW) has seen a spike in option trading this afternoon. The stock has witnessed more than 29,100 contracts cross the tape, which is 2.8 times the equity's average trading volume. What's more, data from WhatsTrading.com reveals that 94.5% of this volume crossed on the call side.

Drilling down on the action, it appears that a trader may be rolling out an existing May position to the July series. The May 17.50 call has traded more than 13,200 contracts on open interest of 15,773 contracts. At 10:50 a.m., several large blocks totaling 13,000 contracts traded at $2.95, which was between the bid price of $2.90 and ask price of $3.00 at the time.

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    Source: Schaeffer's Investment Research