Barrick Gold (ABX) July 35/45 call spread trades 10000X. 4500X recently traded for $2.32. Shares down 19 cents to $31.15.

Economic Data Cools the Recent Rally

Alcoa (AA) is down 27 cents to $6.24 and 20K Jan 7.5 calls recently traded at the offer for $1.42.

Select Sector Consumer Staples ETF (ETF) puts are active after an investor sold the Mar 21/20 put spread 10000X for 50 cents. This likely closes a position opened on Feb 13 when 10000 Mar 21 puts were bought for 52.5 cents, while opening a similar position in the 20s to maintain downside exposure. XLP is down 9 cents to $20.4.

BofA (BAC) is down 51 cents to $4.81 and hit session lows of $4.25 earlier today on fears it might face a similar fate as Citigroup (C). Trading in the options market is brisk, with 64K puts and 62K calls traded in the first hour. Sentiment is leaning bearish amid increasing buying interest in March puts at the $4 and $3 strikes. More than 38K traded total and implied volatility in those two contract moving back to 200 percent.

Blackstone Group seeing unusually active call buying after shares touched a new 52w low of 3.55 earlier today on earnings miss. Near 3.80 now and more than 3800 June 2.5 calls have traded, most on the offer, with IV lifting 12 points to 146.

Dendreon (DNDN) is down a nickel to $3.22 and directional sentiment is bearish. 5480 puts have traded, compared to 550 calls. Trades include 3600 May 2.5 puts near the offer for $1.49 per contract. 4,485 now traded. Implied volatility at 3-month highs above 200, from about 190 the day before.

GE trading near 8.70 and early option flow suggests relatively bearish put buyers and call sellers. Two 5000 lot blocks of April 10 calls were sold for 67cents in what will likely open new positions, while at the same time a customer was paying 54cents for nearly 10000 March 7.5 Puts.

Dupont (DD) is down 36 cents to $18.54 and hit a new 14-year low of $18.29 Friday morning. In the options market, July 20 calls are the most actives. 4,080 traded (4X existing open interesst) including a recent sweep of 2750 contracts at the offer for $1.65.

Commercial Metals (CMC) is down 43 cents to $9.83 amid a broader decline in steel stocks Friday and options volume is running 4X the average daily, with most of the activity concentrated in June 15 calls. 3000 traded (84 pecent ask-side). Might be closing trades, as existing open interest is 3,949.