Hunstman (HUN) is up 7 cents to $9.45 and the Aug – Sep 9 call spread trades at 30 cents, 8500X on AMEX. Looks like a roll of short Aug 9 calls opened on July 15, when 6000 traded (rolling of July 9s), and July 16, when another 2500 traded. The 2500 block was sold as part of a buy-write, according to a source on the floor. It is likely that the other 6000 was also. So, this looks like a position adjustment ahead of this week’s options expiration.
About the Author (Author Profile)
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.