According to traders who were cited in the article, the calls were part of an iron condor. An iron condor is an option strategy where you buy and short several

According to traders who were cited in the article, the calls were part of an iron condor. An iron condor is an option strategy where you buy and short several options at once, and which speculates on LOW volatility. The 160 OTM call just happened to be the most profitable part of the strategy, but you shouldn't look at it in isolation from the other components. Cited from theoptionsguide.com: "The iron condor is a limited risk, non-directional option trading strategy that is designed to have a large probability of earning a small limited profit when the underlying security is perceived to have low volatility. The iron condor strategy can also be visualized as a combination of a bull put spread and a bear call spread. Iron Condor Construction Sell 1 OTM Put Buy 1 OTM Put (Lower Strike) Sell 1 OTM Call Buy 1 OTM Call (Higher Strike)"