Wednesday, April 13, 2011

Option Flow Recap April 13th

Macro / Thematic

USO United States Oil Fund LP (ETF) - 50,000 of the October 48 calls were bought for $2.28. The options were tied to 1.75 million shares at $42.60 and could be closing. The contracts are 12.3% out of the money.


MGM MGM Resorts International. - 10,000-contract block of January 12.5 calls were sold at $2.84, likely a closing position after today's 8.3% rally in the stock price. Earnings are expected around May 5th.

GME GameStop Corp.  - Call buying active today in Gamestop likely on renewed chatter or as a play on earnings due around May 19th.

KBH KB Home - 4000 of the May 10 / 12 put were sold to buy the July 9 / 11 put spread, with the investor collecting $0.75 on the package. It is a roll of a position opened in late March.


BP BP plc (ADR) - 4600 of the May 46 puts were sold at $1.94, tied to 45.48 stock. The puts were sold to open.

RRC Range Resources Corp. - 2500 if the June 60 / 70 call spreads were bought for $1.25.

APC Anadarko Petroleum Corporation - 2000 of the APC August 85 calls were bought for $4.20.


DELL Dell Inc. - 3000 of the January 15 puts were sold at $1.56. A total of 29,727 of the May 16 calls traded today with 89% trading on the offer.

YHOO Yahoo! Inc. - 4000 of the July 15 / 19 call spread was bought for $1.62. Data shows at least half were bought to open.

Industrials / Materials

TYC Tyco International Ltd.  - The May 50 /55 strangle was sold 5000x at $3.70.

LPX Louisiana-Pacific Corporation - 5000 of the May 9 puts were bought for $0.60.

BA The Boeing Company - 2500 of the May 75 calls were bought for $1.28.


LM Legg Mason, Inc. - 5000 of the May 40 calls were bought for $0.40. The contracts are 8.7% out of the money. It possible the trade is closing of a position or it is a bullish play in earnings, expected around May 11th.

NBG National Bank of Greece (ADR) - An investor sold 4000 of the April 2 puts at $0.20 and bought the May 1.74 puts for $0.225.


CI CIGNA Corporation - 3900 of the April 45 calls traded today with 97% trading on the offer. The contracts are 1.7% out of the money and expire on Friday.

DCTH Delcath Systems, Inc.  - 3800 of the June 8 puts were sold at $0.50 and appears to be opening.

*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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