Trade of the Day: ORCL March $30/$33 bull call spread

The Trade:
A trader bought the ORCL March 2012 $30/$33 bull call spread 850x at $0.83, or $70,550.

Risk/Reward
The trader is making a large bullish bet on Oracle, one of the leaders in bullish net deltas at 244k. Other bullish buyers include 2,990 October $26 calls and 3,600 October $27 calls. Oracle reports earnings on September 20th. Oracle trades at 10x earnings, 1.15 PEG and 3.76x sales. Oracle closed today at $27.63, up $1.14 or 4.3%. Both Stifel and UBS reiterated a Buy and have price targets of $34 and $37.

The white line shown in the daily stock chart is the break even underlying level at expiration.

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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.