Yesterday a little after one o’clock afternoon, a multi-leg trade for Suncor (SU) Dec. 15 $34 calls took place. It wasn’t important that someone was buying or selling Suncor calls. It was the size of the trade that stood out.
According to Barchart.com data, there were 44,013 calls. That’s 440,130 Suncor shares if exercised in 121 days. Equally important, Suncor only had one call option that was unusually active on Wednesday, and you guessed it, it was the Dec. 15 $34 call.
