The Kroger Co. (KR) is a food retail and distribution company in the United States. The company’s stock is currently trading around $46.73 in a 52 week range of $32.77-$46.80. The stock has been massively outperforming the market this year with shares of KR rallying more than 18% year to date. Order flow in the options market during today’s trading session has been decidedly bullish indicating that traders think this trend will continue. Earlier this morning a trader bought 7,610 KR May 47 Calls for $0.30. This is a very bullish trade requiring the trader to lay out nearly $230,000 in capital. This was labeled as an opening position and the short time to expiration suggests this trader has a higher level of conviction in KR. With stock trading well above the Ichimoku Cloud KR could be setting up well for a long here.
Block Trade: Trader bought 7,610 KR May 47 Calls for $0.30
Risk: $30 per 1 lot
Reward: Untitled
Breakeven: $47.30