What's behind Comcast call selling

optionMONSTER

Call selling tops the options trade in Comcast as shares push lower again.

A trader sold 28,766 October 45 calls in a single block for $0.26 this morning, according to optionMONSTER tracking systems. The strike's previous open interest was just 4,827 contracts, so today's trade is clearly a new position.

The calls weren't tied to any underlying shares identified by our scanners today, so they could have been sold naked with an initial bearish bias. The options could also have been sold against long shares in a covered-call strategy , which would be bullish up to the $45 strike price. (See our Education section)

CMCSA is down 0.4 percent to $42.31. The cable giant's shares were at the high above $46 at the start of August but have fallen for the last three sessions, dipping to support at $41 last week.

More than 32,000 CMCSA options have changed hands so far today, compared to a daily average of 6,779.


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