Stocks quoted in this article:
AT&T (T - 49-3/16) has captured the attention of options players of late, as call open interest at the May 55 call has surged from 3,455 to 7,490 contracts over the last two days. A number of mid-sized blocks were traded in the early afternoon on this out-of-the-money position. These were generally traded off the ask price. Today, speculators are concentrating on the back-month series, as over 1,000 contracts have traded on the March 50 call already today. On the other side of this strike, 2,700 put contracts have swapped hands at the March 50 strike. None of this volume has yet been executed as spreads. Additionally, speculators have traded nearly 1,400 calls at the April 50 strike.