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.
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 [...]
Top trades in Apple today are part of a three-way spread. The stock is up 7 cents to $101.86 on a quiet day for Apple as BABA grabs all the headlines. On the options front, an investor bought 20,000 Oct 95 puts on AAPL for 48 cents, bought 20,000 Weekly (10/24) 103 calls for $2.64, [...]
Opening print in the China Fund. FXI is down 34 cents to $39.94 and a 40000-lot of Weekly (10/3) 37.5 puts on the ETF trades for a dime when the market was 7 to 10 cents. 50,700 traded at that strike against zero open interest. It might be replacing some deep OTM puts in the [...]
Noteworthy activity in Coeur Mining options. The stock is down 27 cents to $6.11 and falling to 52-week lows amid ongoing weakness in the miners. A 15900-lot of Jan 8 calls on CDE trades for 20 cents when the market was 15 to 20 cents. 18500 traded at that strike against 882 in open interest. [...]
Dr. Pepper draws increased options activity. With the stock up 53 cents to $63.90, 6000 Nov 70 calls traded on DPS for 59 cent s per contract and then another 5,800 for 65 cents (then 5755 were canceled). Nevertheless, more than 9000 traded at that strike and the market is 70 to 75 cents.
Bearish flow in Peabody Energy. The stock is off 12 cents to $13.37 and one player bought a 10000-lot of Mar 10 puts on the natural gas/coal producer for 31.5 cents per contract. Separately, 4,000 Mar 12 puts on the stock were swept across multiple exchanges for 75 cents and is an opening buyer (firm, [...]
Big print in the small cap ETF. While the Dow and S&P sit near record levels after another week of gains, the iShares Russell ETF (IWM) is down $1.12 to $114.31 and sits 5.5% below its early-July highs. On the options front, a 50000-lot of Oct 111 puts on the ETF is being bought for [...]
Bearish flow in Medtronic. The stock is up 29 cents to $66.82 and Weekly (9/26) puts are drawing noteworthy interest today. The top trade is a 3000-lot of 65-strike puts for 16 cents on CBOE when the bid-ask was 6 to 16 cents. It opens. 3,340 traded at that strike. The next biggest trade is [...]
Possible pin play in EBAY. Expiring Sep 53 puts trade more than 25K. The stock is up 30 cents to $53 and the contract is at-the-money. Open interest is 27,450 and the market is 27 to 30 cents. At-the-money Sep 53 calls have traded 4,157 against 6,599 in open interest. Market is 25 to 29 [...]
Active trading in Market Vectors Gold Mining calls. The ETF is off 40 cents to $22.73 and falling to three-month lows after a one-month 15.8% rout. In options action, recent trades on GDX include a sweep of 5,047 Oct 23.5 calls for 41 cents when the bid-ask was 38 to 41 cents. 12,870 traded at [...]