There is also the possibility that the trader was opening an in-the-money bear call spread.
Redler is long BAC, DELL, FB, DBC, AAPL, TBT, WMT, GE, LNKD call spread.
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Traders looking for a pre-earnings strategy for PCLN might want to consider a bull call spread.
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Redler is Long: AAPL, GOOG, YHOO, S, BAC, DDD, WMT, MGM, F, AAPL Call Spread, DDD Call Spread.
You can construct a similar return profile with three trades--a "bull-call spread, " in the argot of the Chicago options pits.
According to data from Trade-Alert.com, one trader opened a bull call spread using the November 26 and 31 strikes.
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According to data from Trade-Alert.com, one trader opened a bull call spread using the January 2012 20 and 17.50 strikes.
As most options traders know, the only risk associated with a bull call spread is the net debt incurred by entering the position.
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Redler is long SPY, BAC, MGM, S, F, DDD call spread.
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One bullish options player positioned for continued share price appreciation in the next several months by initiating a debit call spread in the July contract.
Perhaps the investor is giving up on the near-term pop required to push those calls in-the-money by next Friday, in favor of the October call spread.
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The trader significantly decreased the cost of taking a directional stance on the stock by employing a call spread instead of buying the closer-to-the-money calls outright.
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Traders looking to take advantage of a post-earnings AAPL rally may want to consider a bull call spread centering on the May 345 and 360 strikes.
Keeping that disclaimer in mind, it appears the call spread is looking for shares in News Corp. to trade substantially higher come expiration day in January 2013.
The largest single trade on YHOO today, a one-by-two ratio call spread, suggests the price of the underlying may post limited gains during the first seven months of 2012.
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While the only risk associated with a bull call spread is the net debt incurred by entering the position, there is a considerably higher risk assumed by selling the September 3.50 puts.
While the only risk associated with a bull call spread is the net debt incurred by entering the position, there is a considerably higher risk assumed by selling the January 2012 12.50 puts.
Bulls looking to hedge their bets in the event of a post-earnings pullback should considering coupling the bought 12-strike call with a sold April 15 call, resulting in the initiation of a bull call spread.
In conclusion, as you look this week for the last stocks that may pay special dividends, keep the criteria discussed earlier in mind, and consider purchasing a call spread that allows you to exercise one side and collect the dividend or make money on an up move, yet is defined in risk to the downside.
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The execution of this trade would involve the purchase of the March 32 call and sell of March 33 call (buying a vertical spread) while simultaneously selling the March 33 call and purchasing the March 34 call ( selling a vertical spread) However, you put it in as one trade (a call butterfly) and then you can fill as one price on the whole trade.
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The largest transaction on the fund today was the purchase of a massive call butterfly spread in the December contract.
"There's a call out there to spread that information -- podcasting is one of the easiest ways to do it, " he told CNN.
As word-spotting systems spread, call-centre training schools have started coaching students in gaming the system so they look good under the additional scrutiny.
As you probably know, they spread their call for the state to step up to the plate with funding through a gimmicky attempt to beat the world record for visiting all 468 subway stations.
"These cartoons spread hatred, and we call for peace, " he said, adding that Islamic leaders "fear the spread of hatred" against their religion and oppose "the mocking" of any religion.
After news of this spread his clerk, John Call, issued a statement.
However, his call on his followers to further the spread of Christianity may have heightened Hindu nationalists' fears of future mass conversions.
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