Monday, June 13, 2011

Options Flow Recap June 13th

Macro / Thematic

Financial Select Sector SPDR (ETF) XLF – 20,000 of the September 16 / 15 put spread were sold at $0.59.  (Bullish action continues)

SPDR Gold Trust (ETF)  GLD 20,000 July 149 calls trade above the offer @ 2.57, looks opening, 50 delta

 VIX saw 124% the normal volume with 303K calls and 106K puts traded.  Some larger trades in the pit:
·         Buyer of 5k July 30 call for .60
·         Buyer of 10k Jul 20/25 call spread for .925
·         Buyer of 5k Jul 20 call for 2.075
·         Buyer of 7650 Jul 20 call for 2.375
·         Buyer of 10k June 17 put for .075


Sears Holdings Corporation  SHLD – Nearly 2000 of the June 70 / July 75 put spread was bought for $1.50. It appears to be a roll out one month and into an in-the-money put.

ITT Educational Services, Inc ESI –  the Carmel, IN for-profit college, saw bearish positions for the stock to falter by Friday.  An investor staked out positions that benefit if the wind comes out of ITT’s sails, and quickly.  Crossing the tape early in the session were more than 2,500 put spread positions that profit if the stock falls more than 8% from its intraday high by the end of the week.  The investor bought-to-open a Jun 72.5/77.5 put at .50 today, seven trading days after shares rallied 21.1 percent on news the DOE is allowing education companies up to three years to pass gainful employment rules.  The total volume in the name was 947 calls and 6847 puts. 

OfficeMax Incorporated OMX – 1300 of the July 5 puts were bought for $0.15. The puts were bought to open.

Kellogg Company – 4000 of the July 55 calls were bought for $1.25. The calls were bought to open and tied to stock at $55.38


Nabors Industries Ltd. NBR – 5000 of the July 26 / 30 call spread was bought for $0.63. The spread was bought to open.

Petrohawk Energy Corporation HK – 10,000 of the September 23 puts were bought for $1.79.

Cabot Oil & Gas Corporation COG – 5000 of the October 25 puts were bought for $0.20

Valero Energy Corporation VLO – 2000 of the September 28 calls were bought for $0.98. The calls were bought to open.

Rowan Companies Inc RDC - saw bullish flow with 6366 calls trading, or 4 times the recent average daily call volume in the name, versus only 465 puts.  The put/call ratio dropped to 0.07 from 0.61.  Most of today’s call volume was in June 37 calls, which traded 5674 times (97% premium on the ask side) with implied volatility lifted 11.4 to 42.5 percent.  Rowan Companies Inc provides onshore and offshore oil and gas contract drilling services in the U.S. and internationally.  No news came out today

Industrials / Materials

Alpha Natural Resources, Inc. ANR – 7500 of the September 55 puts were bought for $10.45 and 10,000 of the September 45 puts were sold at $3.55.

C.H. Robinson Worldwide, Inc. CHRW – 10,378 of the January 80 / August 75 call spread was bought for $0.20. It appears to be a roll of a position from the August to January calls.

Temple-Inland, Inc. TIN – 4000 of the July 26 / 29 bearish risk reversal traded at $0.90.


RF Micro Devices, Inc.  RFMD – 1500 of the August 6 puts were bought for $0.80. The puts were bought to open.

Yahoo! Inc YHOO – 13,000 of the July 16 / 19 call spread was bought for $0.29. The call spread was tied to 364k shares at $15.19.

Verizon Communications Inc.  VZ – 2000 of the July 36 calls were bought for $0.53. The trade was tied to stock at $35.71.


Federated Investors, Inc. FII – 1700 of the January 20 puts were bought for $1.10. It appears the puts were bought to open.


Gen-Probe Incorporated GPRO – 1500 of the July 60 / 65 risk reversals were sold at $5.60, with the July 60 puts being bought for $0.75 and the July 65 calls appearing to be sold at $6.35.

*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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