A few large blocks of calls on BP traded this afternoon pushing call volume in the driller to triple the daily average level, as shares trade 1.4% lower near $37.64 in heavy spot volume. Largest block was a buyer of 14249 Oct 40 calls for 1.91 vs 600,000 shrs at 37.75 on the Amex, crossed by Onpoint Executions, and a bit later, 9000 Jan 45 calls were bought for 1.20 on the CBOE vs 37.72 stock.
About the Author (Author Profile)
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.