Call Spread Sold on iStar Financial (SFI)

Shares of iStar Financial Inc. SFI are higher on the session by 1.56%, trading at $9.14. Shares have been moving sharply higher over the past six months, though the move has moderated recently. Shares are currently consolidating. One trader sold a very large call spread moments ago. The July $10/13 call traded 10,000 times, for $0.40, in what looks to be a closing sale. It is likely that this is a closing transaction on the spread that was bought back in late-February, when shares were trading for $9.70, for $1.00. Apparently this trader was a little too bullish and is taking his or her chips off of the table while there is still premium. iStar Financial Inc. is a finance company focused on the commercial real estate industry. The company primarily provides financing to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity.