Activision, Inc. (ATVI) is a publisher of entertainment products for a number of different devices and platforms. The company’s stock is currently trading around $20.60 in a 52 week range of $13.27-$21.50. The stock has been doing very well this year with shares rallying more than 15% year to date. Options traders seem to think this trend will continue as block orders hitting the tape during today’s session have been decidedly bullish. Earlier today a trader bought 2,850 ATVI Jun 21 Calls for $0.47. This is a very bullish trade and with shares of ATVI above the Ichimoku Cloud it seems unlikely this is a hedge against a short stock position. With strong order flow and a bullish chart set up it appears ATVI could be setting up well for a long position.

Block Trade: A trader bought 2,850 ATVI Jun 21 Calls for $0.47
Risk: $47 per 1 lot
Reward: Unlimited
Breakeven: $21.47

James Ramelli


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