Giant VIX Options Trades Bet That Stock-Market Calm Won’t Last

(Bloomberg) — As calm descends on a U.S. stock market thats posting one record after the next, it appears that one options trader is making a big bet that the serenity is not going to last.
Somebody shook up options screens Thursday morning with a wager that the VIX Index will rise toward 40 — and wont be lower than 25 — in July, up from about the 17 level where the volatility gauge currently trades. The trader appears to have made several block trades, buying a total of about 200,000 call contracts….

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