Yahoo (YHOO) loses 12 cents to $15.89 and and the Jan 12.5 – 20 risk-reversal trades at 2 cents, 10000X on PHLX. Like yesterday, calls were bought, puts sold (see 6/2 color). Today’s open interest data indicate that yesterday’s bullish combo was opening. Today’s trade probably adds to it.
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.