Call spreads in Nielsen as a bullish play is extended
Call spreads in Nielsen as a bullish play is extended. The stock up 40c to $25.10 and 9K Jan 30 - Jun 32 call spreads bought for 50c. The same spread traded 5K for 70c on 12/3 and open interest numbers from 12/4 indicate that calls were rolled to June from Jan, up two strikes. Today likely repeats, as open interest in the Jan 30 calls is 44K and the largest in the name. Trade history shows the bulk opened in August as shares rallied on reports 8% stakeholder Elliott Management was pushing for a sale of the company. Shares up about $1 since that time and, while the Jan 30s are still well out of the money and trading for just a dime today, rolling to the Jun 32s expresses confidence that shares can reach the mid-30s by June.