Nio (NIO) is often considered the Tesla of China.  The electric car maker does have $5 billion in sales, which differentiates it from many other new electric vehicle makers whose sales are light. One very interesting block trade from last week was a massive covered call trade on NIO.  The trader purchased 750,000 shares of NIO while simultaneously selling 7,500 of the 22 calls which expire in January of 2023.  While this trade doesn’t allow for much upside potential, the return on cash is well over 20% from the premium collected.