Call Spreads Trade On Electronic Arts

Call spreads trading on Electronic Arts Inc. (Ticker: EA) today look for shares in the videogame and digital entertainment company to rocket to fresh multi-year highs during the next couple of months. Shares in Electronic Arts are up 1.0% on the day at $35.65 as of 1:20 p.m. ET.
It looks like roughly 10,000 of the Sep 37.0/41.0 call spread was purchased during the first half of the trading session at a net premium of $1.00 each. The strategy starts making money if shares in EA rally more than 6.0% over the current level to exceed the breakeven price of $38.00 and reaps maximum possible gains of $3.00 per contract in the event the stock soars 15% to $41.00 by September expiration. Electronic Arts is scheduled to report first-quarter earnings after the closing bell on July 22nd. Shares in EA are down roughly 4.0% off a 52-week high of $37.26 reached in June, but is up roughly 50% since this time last year.