Option Flow Recap March 8

Macro

SPY SPDR S&P 500 ETF - April 132 straddle sold at $5.92 15,500x

SLV iShares Silver Trust- Jul 35 synthetic short trades 5,000x for a $0.10 credit (new OI) and the July 33 synthetic short also trades 5,000x for a $2.08 credit.  $1.9MM sold in calls and $2.3MM bought in puts today.  Could just be locking in gains BUT could also be very bearish....   

Consumer

TGT Target Corporation – 8000 July 49 / 52.5 bullish risk reversals were bought for .40. Paying $2.31 for the July 52.5 calls and sold the July 49 puts at $1.91.

MGM MGM Resorts International.  - Someone bought 10,000 June 17.5 Calls for $0.29 vs. stock

TIVO TiVo Inc - One strategist sold 10,000 August 7 puts and bought the August 8 / 15 call spread, 10000X. They also bought 10,000 May 20 calls and paid $1.06 for the four-way spread.

BIG Big Lots, Inc- 42.5/45/47.5 call tree trades 5,000x for a $.05 debit

Tech

QCOM QUALCOMM, Inc. - Large bearish trade where 9700 April 60 Calls were sold at $0.72 and 9700 April 48 Puts bought for $0.42, tied to 330k shares at $56.33.

NUAN Nuance Communications Inc. – 2500 January 25 calls were bought for $0.475 and 2500 January 23 calls were bought for $0.30.

Financials

C Citigroup Inc.– 50,000 June 5.5 calls were bought for $0.05 in a multi exchange sweep.

BX The Blackstone Group L.P.  – 26,700 June 30 calls were sold on the bid at $1.21. This is likely closing a trade that was opened on Feb 11^th and Feb 14^th.

WFC The Blackstone Group L.P.  – Nearly 5000 April 34 calls were bought for $0.50. It was an opening purchase.

Industrials / Materials

PCX Patriot Coal Corporation – Bullish trade where 4200 April 26 / 30 call spreads were bought for $0.80.

TIN Temple-Inland, Inc. – 2500 of the March 22 puts were bought for $0.50. The trade appears to be to open.

Energy

HK Petrohawk Energy Corporation – 5800 June 18 Puts were sold at $0.39

LNG Cheniere Energy, Inc. – 7400 April 10 calls were bought for $0.35 to open.

Healthcare

HGSI Human Genome Sciences – Nearly 10,000 of the March 20 puts traded today ahead of FDA's decision on the company's BENLYSTA lupus drug, expected around March 10.

TEVA Teva Pharmaceutical Industries Ltd – 3400 June 42.5 / 55 bullish risk reversals were bought for $0.27

*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.

Option Flow Recap Feb 17

Macro

SPY - 30,000 127 / 121 / 120 put trees trade for a .05 debit 

Consumer

FDO – Options were very active in Family Dollar again, a day after it was announced that Nelson Peltz's firm is looking to buy the company. Options volume of 15,000 calls and 3,375 puts traded on the day. 6100 March 50 calls traded (81% on the offer). Also 3,560 April 49 calls traded (99% on the offer).

LOW – 40,000 March 26 calls were sold to open at $0.88. 4700 March 25 / 27 strangle was bought for $0.98.

MGM – 11,500 January’12 12.5 calls were bought for $4.25.

Energy

YGE – 5000 February 13 puts were swept early in the session for $0.45.

NOG – 2500 March 27 puts were sold at $0.95.

CVX – 1250 March 100 calls were bought for $0.84.

HAL – 1300 January’12 50 call were sold at $5.15.

Tech

VZ – 16,000 April 36 calls were sold at $1.06

MRVL – Over 30,000 calls and 10,000 puts traded today on the back of TXN -for-MRVL chatter.

NVDA – Which traded up 2.30 on the day saw a lot of option action with over 184,000 calls and 79,000 puts trading on the day.

INTC – 4300 of the October 23 calls were bought for $0.96.

Industrials / Materials

AKS - 28,000 March 18 calls were bought for $0.43 to open.

VALE – An investor sold 20,000 May 30 puts, bought 10,000 May 35 calls and bought 10,000 May 40 calls, paying $1.43 for the package to open.

FCX - An investor paid $0.65 for the May 52 / 57.5 1x2 ratio spread, 7500x. The company was mentioned cautiously in a Stansberry Research newsletter Tuesday. Yesterday I suggested the May 50 / 45 1x2 ratio spread.

Financials

C – A strategist sold 40,000 January 4 puts to buy the January 5 / 5.5 call spread, 40000x.  We break down this trade here for our trade of the day.

Healthcare

XNPT – 1500 March 9 calls were bought for $0.65, 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.