Huge Call Purchase in the SPY

You don’t usually see clearly defined options transactions in the SPDR S&P 500 Trust ETF (NYSE: SPY), mostly due to the large overall volume that the ETF trades daily, but today a bullish block of calls was purchased.

The September $125 call was purchased on the offer over 20,000 times a short while ago; this exceeded the open interest of 19,756 contracts, which signals new, bullish positioning.

The June $126 call also saw significant volume, 36,000 contracts, though these were sold to close out an existing long position in the market. It is possible that this was a roll of a bull position to further bet on upside in the market.