MetroPCS (NYSE: PCS) traders continue to gamble on the potential of a takeover as implied volatility sits at 77%. Today, 15,000 November $7.50 puts were closed and rolled into a bullish position with shares at $5.90. The trader sold 15,000 February $5 puts and bought 15,000 February $7.50 calls for a 5 cent debit.
-Joe Kunkle, OptionsHawk.com
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