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SE Call Spread Trade Nets 10% Gain After Stock Jumps $2.12—What Does It Signal?
A single high-volume call spread trade in Sea Limited (SE) options drew attention on November 10, 2025, as 1,672 contracts of the 150-160 call spread changed hands for an average price of $4.50. By 11:30 a.m., the spread price had climbed to $4.95, yielding the buyers an immediate paper gain of $0.45 per contract, or 10% in just over an hour. This fast profit was linked to SE's stock rising by $2.12 from $153.04 to $155.16 over that short period.
Large Call Spread: $376K Outlay for Potential $460K Profit
Let’s lay out the specifics of the trade and what’s at stake for these bullish traders:
| Detail | Value |
|---|---|
| Expiration | 14-Nov-25 |
| Strike Prices | 150 / 160 (Call Spread) |
| Contracts Traded | 1,672 |
| VWAP Trade Price | $4.50 |
| Current Spread Price (11:30 a.m.) | $4.95 |
| Bid/Ask Spread | $4.07 / $5.00 |
| Stock Reference Price at Trade | $153.04 |
| Stock Price Now | $155.16 |
| Total Cost to Buyer | $376,200 |
| Potential Max Profit (Above $160 at Expiry) | ~$460,000 |
| Days to Expiration | 4 |
With the November 14 expiration just four days away, buyers of this spread are making a clear wager: they’re paying up for the chance SE finishes above $160—needing a move of about 3.1% higher from the post-trade price.
Curious to dig deeper or screen for more trades like this? Explore the SE Multi-Leg Trade Analyzer or visit the Multi-Leg Trade Screener to spot more notable option strategies.
Stock Technicals Signal Short-Term Caution, Despite 61.9% Yearly Outperformance
While SE has soared 61.9% over the last year (vs. the S&P 500’s +14.8%), recent price action hints at short-term uncertainty:
- Stock closed at $155.16, up 3.48% on the day.
- Gained 1.9% from the previous close to open, with an additional 1.5% from open to close.
- Sits 67.4% above its 52-week low, but remains 22.2% below its 52-week high.
- Currently trades 3.3% below its 20-day average and 12.3% under the 50-day average, yet is 7.5% above the 250-day average.
- Technical indicator shows a Bearish Crossover on moving averages, usually a warning for momentum traders.
How has SE stacked up to the market across timeframes? See the performance breakdown:
| Duration | SE Return | Low | High | SPY Return |
|---|---|---|---|---|
| Today | +3.4% | 151.00 | 155.37 | +0.8% |
| 2 Week | +0.2% | 145.79 | 164.03 | -0.2% |
| 1 Month | -18.9% | 145.79 | 193.48 | +1.1% |
| 3 Month | +4.1% | 145.63 | 199.30 | +7.2% |
| 6 Month | +8.7% | 138.24 | 199.30 | +21.1% |
| 1 Year | +61.9% | 92.71 | 199.30 | +14.8% |
| YTD | +46.1% | 99.50 | 199.30 | +16.3% |
| 3 Year | +219.7% | 34.35 | 199.30 | +83.4% |
| 5 Year | -17.0% | 34.35 | 372.70 | +102.4% |
SE’s strength shines in the long-term, but recent stumbles against its moving averages and a sharp 1-month drawdown of -18.9% versus the S&P’s gain of +1.1% indicate a period of caution—or potential value if bullish bets like this one play out.
Options Market Skew Remains Bearish—Will the Call Spread Buyers Be Proven Right?
Option traders looking at the 30-day implied volatility skew are less enthusiastic, with Market Chameleon’s proprietary skew indicator at just a 26% rank—a level historically aligned with bearish postures. For reference, 100% represents peak optimism while 0% marks the lowest sentiment seen in the past year.
That said, options volume and open interest spiked around this spread, hinting at institutional or informed buyers taking targeted positions against prevailing short-term pessimism. The spread’s break-even price is $154.50, so any move above this level into expiration benefits the buyer—especially with today’s breakout past expected daily resistance of $154.66.
Takeaway: Divergent Signals, but Aggressive Bets in Play
This 1,672-lot call spread shows sizable capital committed to the prospect of SE making a swift upside move, in contrast to technical and option-based signals leaning bearish. For traders, the main question remains: will SE’s recent strength—and historical resilience—overcome short-term skepticism embedded in the options market?
For those wanting to track more of these high-stakes trades, you can analyze further with the SE Multi-Leg Trade Analyzer or browse strategies using the Multi-Leg Option Trade Screener.
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NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.
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Disclosure: This article was generated with the assistance of AI