Author Archive: Fred Ruffy
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.
Bold trade in the Russia ETF ahead of the referendum in Ukraine. The fate of Crimea is decided this weekend and, despite fears about the potential for escalating violence, an investor bought a 24000-lot of RSX Aug 25 calls on RSX for 87.5 cents per contract. 27,256 contracts traded on the day.
VIX sees heavy volume. The index is above 17 for the first time in more than a month and 1.7 million contracts traded in the VIX pit. Some of the flow is probably expiration related because the March options expire on Wednesday. The biggest trade, however, is a May – Jul 20 call spread on [...]
Santander sees a hefty premium sale. The stock is off 3 pennies to $8.86 and 36,000 Jan 10 calls are sold on the Spanish bank at 22.5 cents. 37,770 traded on the day. Open interest at that strike is 96,380 and most were opened in the summer 2013. For instance, buying was noted for 50 [...]
High call volume in Mylan Labs. The stock is up 75 cents to $52.78 and seeing relative strength today on unsubstantiated chatter that Perrigo is interested in MYL (per Briefing). On the options front, March 55 calls, which are 4.2% out-of-the-money and expiring in a week, are the most active in the name. 5,350 traded [...]
MSCI EFA Fund draws unusual activity. The ETF is down 17 cents to $65.09 and an investor sold 130,000 June 45 puts on EFA at 6 cents and bought 80,000 Sep 45s for 34 cents. The Jun puts probably close from 9/18 when a buyer was paying 38 and 42 cents. The Sep 45 puts [...]
Noteworthy flow in National Oilwell. The stock is off 67 cents to $74.51 and the top trade is a 4545-lot of Apr 72.5 puts for $1.01 per contract on ISE. A customer bought-to-open, according to ISEE data. 15,400 traded against 1,260 in open interest and the market is 1.17 to 1.20. Note that another driller, [...]
AT&T attracts a hefty put buyer. The stock is flat at $32.35 and a sweep of 11,711 Oct 27s trades on the phone company for 44 cents per contract this morning when the market was 40 to 44 cents. A customer was buying, to open, according to ISEE data. 11,803 contracts now traded against 1,301 [...]
American Tower attracts increased put activity. The stock is up 11 cents to $80.46 and most of the options order flow surfaced early, driven by a sweep of 1600 July 70s for 95 cents per contract. 3,370 now traded against 253 in open interest. Looks like buyers are taking defensive or bearish positions in AMT [...]
Community Health Systems attracts increased put activity. The stock is down $1 to $35.50 and, after having lost nearly 16% in two weeks, is dropping to 52-week lows. In options trading, 6600 May 39 puts traded on the hospitals company for an average of $4.66 when the market was $4.40 to $4.80. More than 10,000 [...]
Big Print in Sprint. The stock is up 19 cents to $8.81 and a 50000-lot of May 9 calls trades is bought on Sprint for 62 cents per contract. It’s opening and not tied to stock. The hefty call purchase coincided with a spike in the underlying. The company this morning announced plans to launch [...]