Very heavy option volume in Ford today, with 140,000 contracts trading in the first 2hrs of the day, nearly triple the typical level for the name. Largest blocks include a 15000 lot conversion on the ISE just before 11am in which the initiator sold sep 15 calls and bought sep 15 puts vs a purchase of 1.5Million shrs (net 12cents under) and then a bit later on the Amex a cust bought 29000 April 14-15 call spreads for 15cents on the to open a large position struck more than 10% out of the money.
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Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.