Weekly Options Hit the Tape in Tenet Healthcare Corp. (THC)

Tenet Healthcare Corp. (THC) is a Dallas based hospital and healthcare services facility operator. At the time of this post (12:10PM CST), THC is currently trading at 47.06, up 3.13% on the day. The stock is still firmly within the lower portion of its 52 week trading range of 37.95-63.61, as it looks to recover from steep sell-offs in November (post-earnings) and January.

Earlier this morning at around 10:49AM CST, OptionHacker detected and flagged some unusually bullish options activity in THC as a trader stepped in and bought a large block of 1,000 of the Feb 27 weekly 46.5 strike calls. This trader lifted the offer of 0.45 across multiple exchanges in an opening bullish sweep transaction that went off against an open interest of just 18 contracts in the strike. With just over one full day of trading remaining before this weekly option’s expiration, this trader’s timely entry has thus far been a lucrative one, as these options have already traded as high as 0.82 on the day as THC broke higher over the 46.60 level intraday and has not looked back since. With such short time remaining until expiration however, this trader may be well suited taking some profits into this move up as we head into tomorrow’s potentially volatile weekly expiration.

Trade: Trader Bought 1,000 of the THC Feb 27th Weekly 46.5 Calls for $0.45
Risk: $45 per 1 lot
Reward: Unlimited
Breakeven: $47.95

These calls have already traded as high as $0.80 today making this an extremely profitable trade.