somebody bought 7000 january 33 calls for 3.55.
HEDGING THEIR TON OF PUTS.
maybe a hedge but a pretty large sum. Why would you be playing with options if you have that much money
i thought "going long" meant that that you were betting it would go up
If the MM buys calls it will cancel their short positions if it goes into the money. Acts as a stop-loss without actually covering the shorted stock.
Sounds like a hell of a good idea I've got Jan 2012 calls
i cant see going long here
They are likely to get very rich.