Boyd Gaming Corporation (BYD) is gaming, resort and casino operator based in Las Vegas. At the time of this post (10:10AM CST) BYD is currently trading up 2.55% on the day to 12.46. The stock is currently trading well within the upper potion of its 52 week range of 8.78-14.58 after finding some buyer support earlier this month around the 11.00 level on the daily chart.
Just moments ago this morning at 10:01AM CST, OptionHacker detected and flagged some hugely bullish unusual options activity as over 9,800 of the Feb ’15 13.0 strike calls traded on the ask-side of the spread for $0.58. This large opening transaction occurred against an open interest of just 42, so we can be confident that this was an opening buy on these calls looking for BYD to continue its upside push into the second month of the coming New Year. At the time of this post, over 13,000 total of the Feb ’15 13.0 calls have traded, mostly on the ask, as buyers position for an anticipated move back up towards the 52 week highs by the February 20th, 2015 monthly options expiration. I did not take entry in this trade, but will be watching to see if this huge bullish bet in BYD pays off.
Trader bought the BYD Feb 13 calls for $0.50
Risk: $50 per 1 lot
Reward: Unlimited
Breakeven: $13.50
These puts have already traded as high as $0.75 making this a very profitable trade.
Regards,
Andrew Keene
KeeneOnTheMarket.com
