By Saqib Iqbal Ahmed
NEW YORK (Reuters) - Call spread trading has risen on SANTANDER (SAN.MC)Consumer USA Holdings Inc
An unidentified investor sold 15,000 calls expiring in October at a $20 strike at 35 cents and bought 20,000 January calls at the same strike price for $1.10, Fred Ruffy, options strategist at Whatstrading.com, said.
Ruffy said the activity looks like a rolling forward of existing positions, as the investor in question extends a bet into the early part of next year. Open interest in the Oct. 20 strike calls is more than 15,000, most of that accumulating in August.
A total of 35,000 calls and no puts in all strikes traded as of 12:13 p.m. EDT, according to Trade Alert.
The January 2015 $20 strike calls, which traded 20,042 times, are the busiest on Santander Consumer USA, according to Trade Alert data.
Shares of the company were down 14 cents or about 1 percent at $19.32 on Tuesday on the New York Stock Exchange.
(Editing by Nick Zieminski)
