Monday, May 9, 2011

Option Flow Recap May 9th

Macro / Thematic

EEM iShares MSCI Emerging Markets Indx (ETF) - 15,000 of the June 46 puts were bought for $0.65. 10,000 of the June 49 calls were sold at $0.65.

SPX saw 51% the normal volume with 109K calls and 212K puts traded.  The most active SPX options were: Sep 800P (10K), May 1250P (9.9K), May 1350C (8.2K), June 1350P (8.1K), June 1350C (8K).  The top open interest positions are: Dec 1400C (196K), June 1300P (153K), June 1325P (150K), June 1325C (148K), Dec 400P (142K).

VIX saw 88% the normal volume with 246K calls and 42K puts traded.  Some larger trades in the pit:
·         Buyer 14K May 27.5 calls for .20
·         Buyer 10K May 25 calls for .25
·         Seller 7.5K June 19 puts at 2.075
·         Buyer 5K May/June 18 put spread for .025
·         Buyer 5K July 22.5/27.5 call spreads for .85


DTG Dollar Thrifty Automotive Group, Inc. – Following the announcement Hertz is offering $57.60 in cash plus .8546 HTZ shares a deal that equates to $72.16; 2000 of the June 80 / 85 call spreads were bought for $1.30.

HRB H&R Block, Inc. - 1580 of the May 16 puts were bought for $0.28. The puts were bought to open.

BYD Boyd Gaming Corporation - 2550 Sep 10 puts trade on the offer for 1.15. Opening transaction, 43 delta


WMB Williams Companies, Inc. - 1750 of the June 33 calls were sold at $0.55. The calls were sold to open.

APC Anadarko Petroleum Corporation - 2870 June 75 calls trade on the offer for 4.20. Opening transaction, 58 delta

Materials / Industrials

FIS Fidelity National Information Services  - 1250 if the May 32.5 calls were sold at $0.65. The calls were sold to open.

MON Monsanto Company - 2154 June 72.5 calls bot above the offer for .47 and then .54. Opening 16 delta


RIMM Research In Motion Limited - 5000 of the June 40 / 57.5 bearish risk reversal was bought for $0.78. The trade was tied to 145,000 shares at $44.90. Additionally

MU Micron Technology, Inc.  - Nearly 15,000 of the May 10 puts traded on the day with over 70% trading on the offer. Also, 9330 June 10 puts trade on the offer for 42. Opening, 37 delta

AMAT Applied Materials, Inc. - 11,000 of the January'13 12.5 / 17.5 call spread was bought for $2.40. The position that appears to be opening was tied to 330,000 shares at $15.20.  


MET MetLife, Inc. - 7000 of the June 38 / 42 puts spread were bought for ~$0.43. The spread appears to have been bought to open.

NDAQ NASDAQ OMX Group, Inc. - 2300 of the September 25 / 29 bullish risk reversal was bought for $0.10. The trade appears to be opening and tied to 57,000 shares at $27.00

MBI MBIA Inc. - 8100 of the June 8 / 9 put spread was bought for $0.26. It appears to have been bought to open ahead of earnings tomorrow afternoon.

CNO CNO Financial Group, Inc. - 10,000 of the September 7 puts were sold at $0.40. It is possible that it is a closing position.


VRX Valeant Pharmaceuticals Int (USA) - 5000 of the October 42 puts were sold at $2.05. The puts were sold to open.

MNKD MannKind Corporation - 4000 of the June 5 calls were sold at $0.25. The calls were sold to open.

SQNM Sequenom, Inc. - 2400 of the January'12 7.5 calls were bought for $1.65

AUXL Auxilium Pharmaceuticals, Inc. - 2000 of the December 20 puts were sold at $1.65. The puts were sold to open.

*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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