The Trade:
A trader executed 20,000 November $18/$13 bull risk reversal trades at an $0.11 credit, or $220,000. On Friday, a trader sold 15,000 November $11 puts at $0.23 and bought 10,000 November $18 calls at $0.19, for a $155,000 credit. Another trader sold 22,500 January $11 puts at $0.39 to buy 15,000 January $19 calls at $0.23 for a credit of $532,500.The graph shown below is the November risk reversal.
