Marketchameleon Smart Money Order Flow Tracker Flags (NYSE:Z) Call Trade on Mar 8, 2019
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*Z 15-Jan-21 70 Calls trade 9,000 contracts for $2.8 million notional value
*Open Interest climbs to 19,258 contracts
On March 8, 2019, 9,000 Z 15-Jan-21 70 calls traded for $3.20 on the ask side of the market implying buying interest. The trade was over $2.8 million in notional value with 679 days to expiration. The call options were well above the stock price at the time of the trade, with the stock price at $38.24 compared to the call strike of 70.
Marketchameleon.com tracks large block option trades for potential smart money order flow by flagging unusual option size, open interest changes and confirmation of trade moving in same direction of original trade.
Follow Through on Option Trade
The option has gained +10.9% from the original trade price and the stock has advanced +4.5% confirming the movement in the same direction of the trade side. The open interest has increased to 19,258 contracts with 675 days to expiration indicating the position remains committed to the trade.
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