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 [...]
The woes continue for Alpha Natural Resources as shares of the coal producer drop another 10% to new lows of $2.59. Recent options trades on ANR include a sweep of 10747 Oct 2.5 puts across multiple exchanges for 14 cents when the bid-ask was 12 to 14 cents. 12,267 now traded vs. 1,296 in OI [...]
Increased options activity in Canadian Natural Resources, being led by a buyer of 7,500 Jan2016 40 calls for $3.80. It’s opening and tied to 405K shares at $38.90. Separately, 5,640 Oct 39 calls trade on the oil and natura gas company at a VWAP of $1.09. Open interest is 31 and the market is now [...]
1,985 Nov 70 calls on Range Resources swept for $2.35 across multiple exchanges. It’s an opening buyer, as shares drop $1.80 to $68.20 and 52-week lows.
Mighty big trade in Marvell. With the stock up 35 cents to $13.74 on a JMP Securities upgrade, a 25000-lot of May 15 calls on the chip-maker trades for 81 cents when the bid-ask was 65 to 81 cents. Then another 5,000-lot printed for 81 cents. 30,282 traded at that strike against zero contacts of [...]
Pfizer Nov 32 calls for 19 cents, 20000X. A buyer is opening. With the stock up 32 cents to $30.27, the 20 delta option expires in 58 days and captures an Oct 28 earnings report. 20,768 contracts traded at that strike. Nov 30 and 31 calls are drawing interest as well.
Market Vectors Russia Fund draws call buying. The ETF is up 46 cents to $23.90 and, just after the opening bell, 5,000 RSX Jan 25s traded for 85 cents across multiple exchanges. Later, another 7,000 traded for 90 cents. Volume at that strike now 14,581 against 16,459 in open interest and data from ISE is [...]
292,000 calls and 52,000 puts traded in the VIX pit, with a three-way spread driving 40% of today’s volume. One player is apparently selling 45,792 Oct 17 calls on VIX at 91 cents to buy 45,972 Nov 17 – 23 call spreads for 79 cents. If so, it might roll positions opened on 9/12 when [...]
Active trading in National Bank of Greece call options just after Noon ET. The stock is up 17 cents to $3.17 and the top trade is a sweep of 5,000 Jan 3 calls on the bank for 60 cents when the bid-ask was 50 to 60 cents. Two minutes earlier, 4,343 Jan 4 calls traded [...]
Green Plains Nov 40 – 45 call spread for $1.06, 1620X. Looks like an opening buyer. 2500 traded on the day. The stock is up 3% to $37 after a two-week 17.4% tumble. The call spread will capture earnings, due in late-October.