Monday, March 14, 2011

Option Flow Recap March 14

Click on the company name for a chart.

Macro / Thematic

SPY SPDR S&P 500 ETF  March 123/128 put 21,600 x, bear vertical.  Very bearish spread with 4 days to work!

VIX VIX Futures- 25,000 of the May 25 /30 1x2 call spread was bought for $0.375. The May 22.5 / 30 1x2 call spread was bought for $0.50, 10,000x. The March 22.5 / 24 1x2 call spread was bought for $0.11, 10,000x.  Looks to be a hedge.

GLD SPDR Gold Trust (ETF) April 139 straddle trades 3500x

SLV iShares Silver Trust (ETF) March $35 straddle trades 4050x


TIVO TiVo Inc. – An investor bought 5800 March 12 calls for $0.10 and sold 6000 March 9 puts at $0.46. Nice credit for a play to pin to 9 or a push even higher on the back of a historically bullish options expiration. 

ERTS Electronic Arts Inc. - A large bullish trade in Electronic Arts with the investor buying 25,000 January’12 22.5 calls for $1.03 and selling 55,000 March 20 calls at $0.04 to close.  Looks like a roll up and out.  ERTS is flagging here.

CAG ConAgra Foods, Inc. - 5000 of the January 25 calls were bought for $0.80 per contract. It was tied to 165k shares at $23.30.

CVS Caremark Corporation - ~6400 of the April 35 calls were bought for $0.38. The contracts were bought to open. Buy'n the dip trade.

LINTA Liberty Media Corp (Interactive- 5000 July 16 puts were sold at $1.05 to open.  200 DMA is around 14ish.  


LDK LDK Solar Co., Ltd.  - 300 of the September 10 / 15 / 20 call fly was purchased for $1.20.  Are the nuclear issues in Japan bullish for solars? I like this trade ~ 1:4 risk/reward.  The 200 DMA is near the lowest strike.  The fly is intrinsically worth $1.5ish here already. Nice cheap bullish trade.  If the stock gets to 15 unwind it or roll it. Don't get greedy...complacency kills!

NOV National-Oilwell Varco, Inc.  - 2400 May 95 calls were bought for $0.70.  If its not a hedge they are looking for all time highs.

ATPG ATP Oil & Gas Corporation - 1750 April 14 puts were bought for $0.36 to open, ahead of earnings.  Targeting the 200DMA as shares have recently broken their uptrend and 50DMA. 

Industrials / Materials

GE General Electric Company - 1000 December 21 calls were purchased for $1.31 to open.  Trader buying the dip.  I heard Doug Kass was buying GE today.

USU USEC Inc. - 4400 October 6 calls were sold at $0.25. Appears to be an opening call write. The contract is almost 30 percent out-of-the-money.  


CERN Cerner Corporation - One strategist paid $2.60 for the April - June 100 put spread, 10,000x.  The stock is in a strong up trend.  

AMAT Applied Materials, Inc. - 4000 April 15 puts were bought for $0.67, to open.  $13.34 gap fill. 


BAC Bank of America Corporation - 10,000 January'13 12.5 calls were purchased for $3.80.  Stock in a triangle here. 


GENZ Genzyme Corporation - 12,500 July 75 calls were sold at $1.50.

*Special thanks to Flotilla Partners, Option Radar, BMO Capital, MEB Options, LiveVolPro, CBOE, Option Monster, and all of the options desks and traders we work with to provide the option flow!

No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.

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