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• Trade buys time for Williams rebound
• Strategy bets on ceiling above Wal-Mart

• TWC 75% Rate It

Time Warner Cable has never traded above $85, and one investor is targeting that level to write calls today.

optionMONSTER's monitoring systems detected the sale of more than 8,100 August 85 calls, most of which priced for $0.90. Volume was almost quadruple previous open interest at the strike.

TWC fell 1.73 percent to $82.34 in afternoon trading. The cable giant's shares are up more than 300 percent since March 2009 but have been churning in their current range since February.

By selling calls, today's trader is expressing a belief the stock will remain below $85 through expiration. He or she is probably a long-term investor who would be willing to exit the position if TWCI goes to that level. Including the credit earned, their exit price would be $85.90.

Overall option volume is 6 times greater than average in the session.

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