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12,000 Calls Trade in Plains All American Pipeline, L.P. (Symbol: PAA)


12,000 Calls Trade in Plains All American Pipeline, L.P. (Symbol: PAA)

Posted March 28, 2024
Jeff Praissman
Interactive Brokers

This morning over 11,800 January 17 ’25 20 calls traded in Plains All American Pipeline, L.P. (Symbol: PAA) at prices between $0.20 and $0.30. This was an opening trade in the 20 deltas upside calls expiring in 295 days. The overall trade is the equivalent of 240,000 shares of stock. The trader may be speculating that PAA will rise above $20 by the January expiration date or selling covered calls against a long stock position to take in extra income.

PAA is currently trading at $17.48 reaching a 52-week high today of $17.51 and has a 52-week low of $11.64.

PAA is currently trading at $17.48 reaching a 52-week high today of $17.51 and has a 52-week low of $11.64.

Source: IBKR TWS. Past performance is not indicative of future results

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2 thoughts on “12,000 Calls Trade in Plains All American Pipeline, L.P. (Symbol: PAA)”

  • 1)i think you mean 20s strike not 20 deltas
    2) “upside” calls – why not call them upside stocks since people buy them hoping they’ll go up
    3) long term calls – i don’t there is such a thing – they used to call them LEAPS but i haven’t seen that term used lately
    4) i would say definately a sale since they were traded at such a low price.
    5) thanks for publishing these!

    • Hello, thank you for reaching out. The calls were a 20 deltas at the time of the trade – they are the 20 strike as well. We have passed your other feedback to the appropriate team. We hope you continue to enjoy Traders’ Insight!

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