A new bearish call spread was placed on Facebook on Friday at 8:03am PST. Someone sold 3892 of 18 Oct’19 calls at the $195 strike and bought the same number of calls at a higher $210 strike as the hedge for the short calls. The trader is risking $5.8m to earn $1.1m. It appears that he is very confident in his trade.
FB: Time and Sales, Friday Sep 20
The chart below depicts the daily price of Facebook as well as the strikes of the bearish call spread.
FB: Daily Chart