Options traders are lining up to take advantage ofthe event, with peak May call open interest of 34, 618 contracts residing at the 350 strike, and peak May put open interest of 24, 741 contracts resting at thedeepoutofthemoney 320 strike.
From an open-interest standpoint, peak call open interest for the July series of options totals approximately 4, 500 contracts and resides at thedeep out-of-the money 55 strike.
Furthermore, peak call open interest for the front three months of options resides at thedeep out-of-the-money 70 strike, totaling more than 10, 000 contracts.