A large trader is betting on resistance holding firm in Delphi Automotive.
More than 15,000 November 32.50 calls traded against no open interest. A huge print of 14,779 was sold for the bid price of $1.25, according to optionMONSTER's systems.
The calls could have been sold naked in a trade that would have an initial bearish bias. Or they could have been traded against long shares as a covered call position, which would be bullish up to the strike price but would not partake in any gains with the stock above that level. (See our Education section)
DLPH finished the day up 0.66 percent at $29.10, the highest close for the auto-parts company since the end of May.
Total option volume in the name was 15,263, all of them puts. That compares to daily average of just 968 over the last month.
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