Tuesday, April 19, 2011

Option Flow Recap April 19th

Macro / Thematic

KBE SPDR KBW Bank - 40,000 December 30 calls sold at 62.5 cents to buy 50,000 June 26 calls at 50 cents. The spread is tied to 1.4 million shares at $25.10.  Pro trade! Long upside gamma but hard to tell if they shorted stock or just did a stock replacement.


PHM PulteGroup, Inc.  - 21,000 of the June 8 calls were sold at $0.54, tied to 100,000 shares at $8.15. The company reports earnings before the open on the 28th of April.

OMX OfficeMax Incorporated  – 10,000 of the June 13 calls and 2000 of the June 14 calls were bought to open versus 450,000 shares of stock at 12.15.

GM General Motors Company  - 11,250 of the June 33 puts were bought for $4.16, possibly a closing trade. This particular investor also bought the September 26 / 29 (2X1) put ratio back spread for $0.25, 18,000x and bought 36,000 September 32 calls for $1.45.


ENER Energy Conversion Devices, Inc. - 17,000 of the September 1.5 puts were bought for $0.30. The puts were bought to open.

IO ION Geophysical Corporation - 1000 of the May 13 calls were sold at $0.45. The calls were sold to open.


CREE Cree, Inc. - 5000 of the June 45 / 50 call spreads were bought for $1.13. Earnings are today.

T AT&T Inc.  - 30,000 of the June 33 calls were bought for $0.11 ahead of the earnings report.

QCOM QUALCOMM, Inc. – 14,500 of the June 45 / 57.5 bearish risk reversal was sold at $0.30. The risky was traded versus 53.12 stock.

Industrials / Materials

ECL Ecolab Inc. - 19,000 of the May 50 / 45 put spreads were bought for $0.75. The put spread was an opening purchase.

FCX Freeport-McMoRan Copper & Gold Inc. - On the bell today 7500 of the May 57 / 52.5 (1x2) 7500 x 15,000 put spread was bought for $1.35.

BHP BHP Billiton Limited – 10,000 of the June 90 / 80 put spread was bought for $1.13. The spread was bought to open.


AIG American International Group, Inc. - 20,000 of the June 34 calls were bought for $0.93. The position was opening and tied to 665,000 shares at $32.05

BAC Bank of America Corporation - The May / June 13 2x1 call spread traded 28,000 x 14,000. It appears to be a roll from the May 13s to a position half the size in June.


FRX Forest Laboratories, Inc. - 3000 of the January 30 / 37.5 bullish risk reversals were bought for $0.10. The company reported earnings that were better than expected and announced today that it has entered into an agreement to buy the worldwide rights to azimilide, an antiarrhythmic agent developed by Procter & Gamble Pharmaceuticals.

*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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