Qunar Cayman Islands Limited (QUNR) is a platform for commerce in the travel industry in China. The company’s stock is currently trading around $38.48 in a 52 week range of $21.00-$38.55. The stock ripped to new 52 week highs today as same very bullish order flow hit the tape in QUNR.
Earlier today a trader bought 1,250 QUNR Apr 40 calls for $0.75. This order is over 4x the average daily options volume in QUNR. Right after this order hit the tape the stock ripped to new 52 week highs and these calls gained in value with the stock. These calls have already traded as high as $1.05 on the day making this an extremely profitable trade.
Trade: Trader bought 1,250 QUNR Apr 40 calls for $0.75.
Risk: $75 per 1 lot
If a trader would have bought a 50 lot of these calls they would have profited $1,500 at the highs that were reached in a matter of hours.