Large blocks of open interest in the STEC Feb 10 calls and puts suggest the stock may be worth watching as a ‘pin’ candidate into the close today. 9300 calls and 7900 Puts are open, for a notional size of about 1.6million shares, more than double the 736K shr avg daily volume in the underlying. Flow hist shows the calls were opened over a few days in Jan and early Feb on some chatter (try STEC, then 1 and then + for older content).
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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.