CenturyLink, Inc (CTL) is a telecommunications company providing services to a wide range of customers. The company’s stock is currently trading around $36.70 in a 52 week range of $27.93-$37.22. Shares of CTL have been doing well this year with stock rallying more than 15.25% year to date. Options traders seem to think this trend will continue as blocks hitting the tape today are decidedly bullish. Earlier this morning a trader bought 6,273 Jun 38 calls for $0.30. This is a very bullish trade that is most likely a speculative long as stock hits new 52 week highs. Shares of CTL are also trading above the Ichimoku Cloud, indicating they are in bullish territory. With a strong chart set up and bullish order flow CTL could be setting up well for a long here.
Block Trade: Trader bought 6,273 CTL Jun 38 Calls for $0.30
Risk: $30 per 1 lot
Reward: Unlimited
Breakeven: $38.30