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.
Bank of America Aug and Oct 17 puts are the most active equity options contracts today. Both traded 126,000X due to ongoing spread activity. The Aug – Oct 17 on the bank traded at 8 cents, 30000X this morning (see 11:28 color) color. It traded again at cents, 33500X midday and then was sold again [...]
Very active trading in the SPYders, as players look to hedge portfolios after yesterday’s 39.1-point drop in the S&P 500, the second biggest drop this year behind the Feb 3rd 40.7-point debacle. SPY is off another 30 cents to $192.79 in heavy trading of 148 millin shares. 2.5 million puts and 1.15 million calls changed [...]
Noteworthy call spread in Consol Energy. The stock up 38 cents to $39.20 and a Jan 45 – 50 cs on the coal producer trades for 79 cents, 10000X. Looks like an opening buyer and the new position is being opened as shares attempt to rebound off multi-month lows. Earnings were reported om 7/29.
VIX spikes above 17 for the first time in months and the total put-to-call ratio of 1.09 is the highest since 4/11. Trading is active at 6.2 million calls and 6.7 million puts through 12:30.
C&J Energy Services Dec 26 – 35 bullish risk-reversal. With the stock down 54 cents to $29.42, the bullish combo has been sold-to-open at 10, 15, and 25 cents multiple times on ISE. 5,000 traded total. New bullish positions are being opened after shares of the oil and gas equipment company gapped down on earnings [...]
Phoenix New Media Sep 10 – 12.5 call spread for 65 cents, 2000X. Looks like an opening buyer. Stock is down 13 cents to $9.95.
Biggest trades so far today are in Bank of America. With the stock down 1.7% to $15, an investor is apparently selling the Aug – Oct 17 put spread on the bank at 8 cents, 30000X. The Aug 17s might close (buyer for $2.06 today) a position opened on 6/23 when the stock was trading [...]
Achillion sees a spike to $7.34 and Aug 8 calls on the biotech are drawing interest. ACHN is now up 15 cents to $7 on takevoer chatter (according to TheFlyOnTheWall). 2,683 Aug 8 calls traded in the name. The contract is a $1 out-of-the-money and expiring in two weeks. The flow has been in smaller [...]
American Eagle attracts bearish flow. The stock is down 31 cents to $10.35 and a 5000-lot of Aug 10 puts trades on the apparel retailer for 15 cents on ISE. A customer is buying, according to ISEE data. 5,120 traded at that strike against 1,950 in open interest. More than 5,000 Aug 11 puts also [...]
Repeat activity in Rio Tinto. Like Monday and Wednesday (see 7/28 and 7/30 color) buyers are opening in the Sep 60 calls on the minerals company. The flow includes a 1,158-lot just after the opening bell for 90 cents on ISE. Data from the exchange confirms that a customer bought the calls, to open. 4,856 [...]