Wednesday, March 16, 2011

Option Flow Recap & Chart Review March 16

Click on the company name to see the chart. If you have any questions or suggestions on how to make the blog better please let us know. 

Thematic / Macro

EWJ iShares MSCI Japan Index (ETF) – 50,000 of the April 10 calls were sold at $0.41.  Possible Buywrite.

SLV iShares Silver Trust (ETF)bull vertical April $34/$36 1,000x.  This strategist seems to be buying the dip.  Looks early to me but the market is very news driven right now.

EEM iShares MSCI Emerging Markets Indx (ETF) -  bear put vertical Apr $40/$44 9,381x.  Trader looking for EEM to break its 200DMA. 


PEET Peet's Coffee & Tea, Inc. – The June 50 / 55 call spread appeared to be bought for $1.75, 1000x to open.  Rumors that SBUX is buying the name still around and PEET had some major out performance today. 

MAR Marriott International, Inc. – 1625 of the April 35 puts were bought for $0.70, to open.  Shares testing its 200 DMA.

DPZ Domino's Pizza, Inc. – The March 17.5 / April 18 call spread was bought for $0.325. It is likely a roll of a bullish position from March to April.  Stock continues a nice uptrend and very close to 52 week highs. 

TOL Toll Brothers, Inc. – 9400 TOL April 21 calls were sold at $0.65 to open.


BP BP plc (ADR) – 6800 March / April 50 put spread traded for $0.05. It appears that it is a roll with the April puts being an opening position.  

CHK Chesapeake Energy Corporation – 2200 October 20 puts were bought for $0.36 to open.  This trader wasn't buying CHK's strength but the name still finished up over 3% on the day. 

XEG iShares S&P TSX Capped Energy Index Fund – 4500 April 21 calls were bought for $0.82.  Buy'n the dip trade

POT Potash Corp./Saskatchewan (USA) -Jan '12 sep ^66.67 short call calendar 6,000x.  Could be a roll or a long gamma play. 

Materials / Industrials

X United States Steel Corporation – Early in the trading day 10,000 July 55 calls were sold at ~$5.605.  


CSCO Cisco Systems, Inc. – An investor bought 50,000 July 19 / 21 call spreads for $0.37.  Second day in a row with bullish action. See yesterday's post. 

XRX Xerox Corporation – An investor sold 17,700 July 9 puts at $0.36. The trade was tied to 497,000 shares at $10.09.  Sell write; just the opposite of a buy write.  The trader is short stock and willing to cover at 9 and take in the premium. 


Citigroup Inc– 12,600 May 3.5 puts were bought for $0.02 to open.  Cheap disaster insurance. 

BAC Bank of America Corporation - Jan '12 'jan 13' 12.5 call long calendar 10,000x.  Longer term bullish and bullish on volatility.  Pro trade. 


MHS Medco Health Solutions Inc. – The July 60 / 65 / 70 call fly paid 1.00 for 24K x 48K x 24K. This bullish strategy sees its max profit if MHS is trading at 65 on July expiration.  Stock right at its 200DMA. 

ENDP Endo Pharmaceuticals – 2000 of the April 35 / 40 call spread was sold at $1.00, 2000x. Stock broker below its 100 DMA. 

*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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