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This question is regarding the following tweet: https://twitter.com/yuriymatso/status/1281730109141954561

How was the original tweeter able to know that "Someone made a $650K bullish bet via 24 July'20 $340 calls expecting SPY to go up at least 8% in the next 2 weeks." I am not saying what he said was right or wrong but just what did he see or where he saw what data which had him conclude this statement. I am sure this was something he may have seen in the option chain perhaps. Any help or even if you could possibly point to a resource would be very much appreciated.

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He circled the volume of the option in question. It was roughly 50,000 and one option contract is usually for 100 shares. Price was 0.13.

$50k*100*0.13 = 650k$

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  • $\begingroup$ Thank for your explanation! Quick question, do you know why it is an unusual volume? $\endgroup$ – Slartibartfast Jul 11 at 22:39
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    $\begingroup$ You can see the volume of each option traded each day, so if this volume was larger than the normal volume you see trading in options... $\endgroup$ – will Jul 12 at 15:53

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