UUP: 237,858 November $23 Calls Trade Pre-FOMC Annoucement (US Dollar ETF)

You don't see this much volume on $UUP options every day. 237,858 November 23 calls traded so far with 40,349 open. I first heard about this on Stocktwits. Looking closer at big blocks on the .UUPKW 1 minute chart (not tick): 47,800 for $0.15 moved @9:56, 36,400 for $0.10 moved @10:47 and 67,600 for $0.15 moved at 11.53. All of this action is gearing up for FOMC volatility I'm sure. Speculation or hedging is anyone's guess. A downtrend was violated recently but UUP has not cracked the 50dma yet. Traders dropped around $3.5 million so far today on these contracts. They have until November 20, 2009 to make dough if speculative. $UUP is trading at $22.54. A live streaming options chart would be great to embed right now.  I added a live $UUP chart below.

UUP volume and calls were active at the end of October also:  $UUP Volume Spiked to 2008 High, Call Volume and ISEE Ratio Analysis With Potential Trade Lurking (Link).

UUP Live Chart