The $3 call’s Vol/OI ratio was 3.64. That’s not double-digits, but it’s still considered unusually active. The first thing I notice is that 99% of the trades were for 10 contracts or more, with five accounting for 89% of the trades of 10 contracts or more.However, before I do that, let’s consider yesterday’s 2,000 call option contracts traded for the $3 call.Although Tilray’s (TLRY) options volume yesterday was reasonable at 148,312, nearly 10% of its open interest, the Nov. 14 $3 call was the only unusuall ...

A bear call spread is a type of vertical spread, meaning that two options within the same expiry month are being traded. One call option is being sold, which generates a credit for the trader. Another call option is bought to provide protection against an adverse move. More News from Barchart The sold call is always closer to the stock price than the bought call. As the name suggests, this trade does best when the stock declines after the trade is opened. However, there can be many cases where this tr ...