It looks like a 6,065-lot 16May'14 $60/$65 call spread was purchased at a net premium of $0.77 per contract. The bull call spread starts making money if shares in SolarCity rally 8.0% over the current level to exceed the effective breakeven price of $60.77, with maximum possible profits of $4.23 per contract available in the event that SCTY shares jump nearly 16% to $65.00 by expiration. Shares last traded above $65.00 back on April 2nd.
Chart – SCTY 16May’14 $60/$65 call spread
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