by Chris McKhann
Shares of Liberty Global (LBTYA) are climbing fast, and option traders are looking for further bullishness.
The broadband Internet services company is up 2 percent on the day to $25.97. LBTYA has found support at $24 since falling from a 52-week high of $26.33 on Feb. 3.
The average daily options volume is just 1,500 contracts, but we see a risk-reversal trade this morning of 20,000 contracts. A trader bought 10,000 of the July 30 calls for $0.95 and sold 10,000 of the July 22.50 puts for the exact same amount. This means that there was no capital outlay for the trade, other than commissions and fees.