Some players in the options market strangled the iShares Emerging Markets Fund (EEM) for a second time this week. On Monday, we saw interest in the EEM March 40/35 strangle. (register to read more …)

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The Select Sector Consumer Discretionary Fund (XLY) saw six times its normal trading volume on active trading in the August and September 28 put options. The August 28s saw 33,900 contracts, compared to open interest of 37,102. The Septembers saw (register to read more …)

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The CBOE Volatility Index (.VIX) is down 1.09 to 20.05 and briefly made a run below 20 for the first time since late May after the (register to read more …)

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St. Jude Medical (STJ, news, chart) is seeing bullish order flow. The stock sits unchanged at $47.50 a share and 6,500 calls have traded on the day, compared to 2,400 puts. 3,100 of the October (register to read more …)

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Large call-spread against a put sale traded on PHLX, very similar to that executed in XTO earlier today. CHK October 50-60 Call spread was bought 20,000x for 2.20, versus a sale of 14,000 Oct 40 Puts at 2.30, tied to (register to read more …)

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Hershey’s (HSY, news, chart) is seeing bullish order flow. The stock is up $1.41 to $39.01 on no obvious news. In the options market, volume is running seven times the usual, with 8,000 calls and (register to read more …)

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Overstock.com (OSTK, news, chart) calls are active on dubious chatter that Amazon.com (AMZN) might be eyeing the company. Shares are up 17 cents to $20.06 and 5,275 OSTK calls have traded, compared to 792 puts. (register to read more …)

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Freeport McMoran (FCX, news, chart) is seeing double its normal options trading volume. The stock is up $7.95 to $86.95 after it was added to Citigroup’s Top Picks Live. In addition, Bloomberg was out with (register to read more …)

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Virgin Media (VMED, news, chart) is seeing bullish order flow in midday action. The company is due to report earnigns tomorrow morning (3:00 a.m. (register to read more …)

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Merck (MRK, news, chart) is seeing double its normal trading volume on what appears to be calendar spread trading. With shares trading up 48 (register to read more …)

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