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.
Put buyers eye Lamar Advertising. The stock is down 30 cents to $52.64 and one player bought an 8000-lot of Apr 44s this morning for 50 cents per contract. Voume at that strike is now 12,646 against 1,488 in open interest. Investors are possibly hedging recent gains. LAMR is up 25.3% since August.
Citi sees spread trading. The stock is down 10 cents to $50.12 in the wake of stress test results and a May 57.5 – 60 call spread trades on the bank for 11 cents, 8000X. The 57.5 calls are opening and the 60s might be closing.
ServiceNow sees a bearish options play. The stock is down 4.4% to $63.70 and a Mar 65 – Apr 60 put spread is apparently being bought on the Santa Clara, CA business technology company for 60 cents, 4000X. Looks like a roll out to April and, if so expressing the view shares might continue falling [...]
Emerging Markets ETF sees a hefty spread trade. EEM is up 42 cents to $39.16 and the investor sold May 37 puts on the fund at 60 cents to buy the May 40 – 41 call spread for 40 cents, 28000X. The three-way, at 20 cents, appears to be expressing a bullish short-term outlook for [...]
High volume in Visa. The stock is up $3.44 to $225.26 in active trading of 7 million shares and giving the Dow a big lift after a court issued a ruling on swipe fees. Roughly 40,000 calls and 8,900 puts traded on the credit card company, which is 3.5X the daily average for the name. [...]
T-Mobile attracts fresh call buying. The stock is up 73 cents to $32.90 and a 3000-lot of Apr 32 calls trades on TMUS for $1.70 on ISE. A customer bought-to-open, according to ISEE data. 4,900 now traded and 30-day implied volatility in the options is up 14% to 42. The stock was up yesterday as [...]
AK Steel attracts a put seller. The stock is up 4.9% to $7.03 and leading the steel names higher after updating its first quarter outlook. On the options front, an investor sold a 10000-lot of Jun 6 puts on AKS at 41 cents. It might close from 3/10 when buyers were paying 66 and 70 [...]
Nokia with noteworthy call buying. The stock is off 11 cents to $7.33 and an investor buys a 12000-lot of Apr 8s for 16 cents per contract. It’s tied to 288K shares of stock and might repeat from a month ago when 25000 were bought for 33 cents (see 2/25 color). Open interest at that [...]
Second day of call buying in PBR. Yesterday’s flow was focused on May 12 calls on the Brazilian energy company (see 3/20 color) and the activity created 11,635 contracts of new open interest at that strike. Jan 13, Apr 11 and Jul 13 calls saw opening activity as well. Today, the focus is on the [...]
Monsanto calls draw interest. The stock is up 24 cents to $114.24 and smaller lots of Jun 120s on the chemicals company printed for $2.73, $2.81, and $2.83 per contract. Then, an 8270-lot traded for $2.84. More than 10K have changed hands and today’s flow will create the largest block of open interest in the [...]