This morning the BGC Group, Inc. (Symbol: BGC) February 16 ’24 7 / May 17 ’24 7.5 diagonal call spread traded 3,000 times at even. At the time of the trade BGC was trading at $7.25.
The trader may have been closing out their February position and rolling it to the May expiration. Earnings are expected to be released between February 26th and March 1st.
BGC is currently trading at $7.29. BGC has a 52-week high of $7.32 and a 52-week low of $3.97.
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Disclosure: Options (with multiple legs)
Options involve risk and are not suitable for all investors. For information on the uses and risks of options, you can obtain a copy of the Options Clearing Corporation risk disclosure document titled Characteristics and Risks of Standardized Options by clicking the link below. Multiple leg strategies, including spreads, will incur multiple transaction costs. “Characteristics and Risks of Standardized Options”
