LyondellBassell Industries (LYB) adds 66 cents to $34.72 today and a noteworthy options trade in the Rotterdam-based specialty chemicals company is a Dec 35 – 43 call spread, bought at $3.05, 5000X. It was not tied and looks opening. The spread, which has a position delta of .27, has traded 10000X on the day. Shares are up 24.2 percent since August 19, but down 27.8 percent from a 52-week high of $48.12 set in early-May. Today’s spread trader might be looking for LYB to revisit the mid-40s in the months ahead.
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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.