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.
FireEye Weekly (11/7) 32 calls trade 3086 contracts. With the stock up 20 cents to $31.08, the top trade is a 2000-lot for $1.70 on PHLX when bid-ask was $1.45 to $1.70. Looks like a new position and will capture a Nov 4 earnings report.
Surging put volume in the first hour. 4.10 million contracts have traded across the exchanges, which compares to 2.5 million contracts of call activity. The total put-to-call ratio is therefore at an exteme of 1.6 after finishing Friday at 1.14. Including today, the total PC ratio has been greater than 1.0 in nine of the [...]
Emerging Markets option volume on track for record 1.35M contracts on overseas concerns. Implied volatility lifting to 5 month high near 20% and several large blocks have traded, including a spread in which a trader sold 13K Oct 42 puts for .97 to buy 27,700 Oct 39 Puts .19 on NYSE-ARCA. Outright trades include a [...]
JC Penney drops 42 cents to $9.72 and the top options trade on the retailer today is a 12300-lot of Weekly (10/10) 10 calls for 26 cents. It’s an opening buyer and tied to 467K shares, maybe stock replacement after the 4% loss in shares today. 15,664 now changed hands at that strike. Oct 10 [...]
Sizable print in Schlumberger as an 11000-lot of Nov 105 calls on the oil driller trades for $3.05 when the market was $2.94 to $3.05. It’s a buyer and it opens. The stock is up $2.08 to $103.09 and more than 12,000 traded on the day. The hefty premium purchase comes after SLB dropped 12.4% [...]
iShares Japan Fund Weekly (10/3) – Weekly (9/26) 12 call spread is bought for a nickel, 10000X. With shares up 11 cents to $11.93, the activity appears to roll a block of calls out an additional week and reflecting the view EWJ will be trading north of $12 (12.06 is the breakeven) by the end [...]
Office Depot Oct 5.5 – 6 risk-reversal for 30 cents, 24300X. The investor sold calls and bought puts, probably closing a position opend earlier this month for a nickel, 25000X, when the stock traded for $5.80 (see 9/12 color).
Cadence Design adds 23 cents to $17.36 and calls on the software-maker are drawing interest. 3500 Oct 18s were swept this morning for 25 cents across multiple exchanges when the market was 5 to 25 cents. 7,935 now traded against 963 in open interest. The market is now 35 to 40 cents. Separately, 2,678 Nov [...]
Janus Capital jumps on news Bill Gross is leaving Pimco to join Janus. The stock is up 33.3% to $14.83 in heavy trading of 82 million shares. The short-to-float ratio on JNS was recently 18.9% and there had been notable interest building in puts on the stock as well (see 8/26 and 9/18 color). The [...]
Yahoo sees a spike in recent trade and some players are showing interest in expiring 39.5 calls on reports Starboard issued a letter to the company’s board of directors. The stock is now up 80 cents to $39.75. A large block of puts on Yahoo was noted earlier today.