General Electric shares up 32c revive hopes for massive weekly call vertical
General Electric shares up 32c revive hopes for massive weekly call vertical. Shares up 31c, or 3.6%, to $8.81 this afternoon with calls leading puts 3:2 and a notable focus at the 9 strike, where over 100K calls are open, most from last Friday's buyer of 75K Jan11th 9/9.5 call spreads for 2c. Shares did briefly pass $9 on Tuesday morning, before sliding back to yesterday's $8.50 close. At current level the spread is worth about 4c, but a move to the upside could get exciting as the delta of the 9 calls, currently 20, would approach 100 very quickly on such short term options, which may involve a rehedge of up to 7.5M shares in order for the seller to remain flat.