Tuesday, June 28, 2011

Options Flow Recap June 28th

Macro / Thematic

IWM  iShares Russell 2000 Index – The July 80 / 78 1x2 put spread trade at $0.11. The investor bought 10,000 of the July 80 put and sold 20,000 of the July 78 puts

SMH Semiconductor HOLDRs (ETF) – 5000 of the August 35 / 38 call spread was bought for $0.39.

EWZ iShares MSCI Brazil Index - seller 7764 July 71 puts at 1.60

VIX saw 67% the normal volume with 191K calls and 61K puts traded.   Some larger trades in the pit:
·         Seller 8,000 July 18 puts at .675
·         Buyer 5,000 July 22.5 calls for 1.20
The most active VIX options were: July 25C (27K), July 27.5C (25K), July 18P (24K), July 22.5C (20K), July 30C (16K).


HANS Hansen Natural Corporation – 10,000 of the September 80 / 90 call spread was sold at $3.45. The trade was tied to 250,000 shares

KBH KB Home  – 17,000 of the August 12 calls were sold at $0.62.

PHM PulteGroup, Inc.  – 14,000 of the July 7 puts were sold at $0.05. The trade is possibly closing.


VLO Valero Energy Corporation – 13,000 of the September 26 / 27 call spread was bought for $0.32. It appears to be a roll down in strikes.

PTEN Patterson-UTI Energy, Inc.  – 1300 of the July 30 calls were bought for $0.45. The calls were bought to open.

ECA EnCana Corporation  – 1000 of the of the October 34 calls were bought for $0.45.

CPX Complete Production Services- an oil equipment, service and distribution company, rallied over 3.5% and traded over 7 times the average volume after someone swept up over 1200 July 30 calls for $1.65 in opening transactions across the exchanges.  The trade has a 60 delta and an implied volatility of 49% while historical vols are: 37.9% (20 day), 44.6% (60 day), 47.2% (120 day). 

Industrials / Materials

SHAW The Shaw Group Inc. – 1200 of the July 34 calls were bought for $0.57 in a multi exchange sweep.

USU USEC Inc.  – 6300 of the October 4 / 5 call spread was sold at $0.11. 

ADM Archer Daniels Midland Company – 4000 of the August 26 puts were sold at $0.29.


STX Seagate Technology PLC – 10,000 of the September 12 / 16 call spread was sold at $2.55.

AT&T Inc. – 7000 of the January’13 40 calls appear to have been bought for $0.28. The calls were bought to open.

CTL CenturyLink, Inc. – 4100 of the January’13 35 calls were bought for $5.70. The calls were bought to open.

FTNT Fortinet, Inc. – 2000 of the August 29 calls were bought for $1.10.  Stock has been rip'n... traders looking for more.

SPRD Speadtrum Communications -a designer of wireless semiconductors, traded 18 times its usual options volume after Muddy Waters published a report saying they “believe that there is a high risk of material misstatements in the reported financials”.  This same firm issued a report on Sino Forest Corp which drove the share price down more than 80%.  See details on the report here: Link As for SPRD, 40K calls traded versus 121K puts (the majority being opening transactions) and the most actives were: July 10P (21K), July 9P (14K), July 11P (12K), July 13P (11K), July 12P (8.5K). 


BPOP Popular, Inc. – 20,500 of the July 3 puts were bought for $0.44 and 30,000 of the October 2.5 puts were sold at $0.20.

GS Goldman Sachs Group, Inc. – 4000 of the September 100 puts were bought for $0.80. The puts were bought to open tied to stock at $128.91.  Hearing rumors that GS and JPM got hurt on commodity trading in June that will effect EPS.

BAC Bank of America Corporation - seller 20,000 Jan13 15 calls vs 10.78, 28 delta.  


MR Mindray Medical International Ltd – 1500 of the August 25 / 30 bullish risk reversal traded at $0.15. The August 25 puts were sold at $0.80, the  Agust 30 calls were bought for $0.65.


 *Special thanks to Option Radar, BMO Capital, MEB Options, LiveVolPro, CBOE, Option Monster, T.O.P. group, 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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