A trader bought 3,250x December $35/$25 bull risk reversals at $0.56, or $182,000.
The trader is buying upside exposure in the Energy name. SU closed trading today at $31.30. SU has dropped 21% the previous week and 23% in the previous month. SU is currently trading just above its 52-week low of $29.15. The spread has unlimited risk to zero and unlimited profit potential to the upside.
The white line shown in the SU daily stock chart is the strike price of the long call.
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No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.