Several large prints in Pfizer (PFE) this morning. Shares are down 27 cents to $16.35 and trades include: the purchase (investor) of 26.4K December 16 puts for $1.13. Looks like an opening trade and possibly a roll, as this same investor also sold 23.7K Sep 14 puts and 2600 Sep 15 puts. Another player (firm) is active in the January 2011 contracts: bought 21.3K 7.5 puts and sold the same number of 15 – 20 call spreads. Collected $1.57 on the package, against the purchase of 746K shares at $16.48. Finally, another investor apparently bought 11K Jan 12.5 calls for $4.10 (traded b/d to b/d) against shares at $16.48 (delta = 100).
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.