Upside call writing in Encana. The stock is up 4c to $6.87 and 2K Jan 9 calls on the oil and gas company are swept across multiple exchanges at 30c per contract. Data from ISE indicate that a customer is selling-to-close. 6.8K traded total against 5.5K in open interest. The contract is 31% out-of-the-money.
Call writer sees limited upside for MGIC Investments. The stock is up a dime to $10.29 and 10K Dec 11 calls on the mortgage insurance company are sold-to-open at 40c per contract.
International Paper with relative strength and short-term call buyers. The stock is up $1.08 to $42.78 and near session highs. Small lots of Weekly 42.5 calls on the paper company trade for 62c this afternoon when the bid-ask was 52 to 62c before 3.9K traded for 65c per contract. 6.3K contracts now changed hands and [...]
Ascena Retail Group options volume is 5X daily average, driven by spread trading. The stock is up 13c to $12.24 and the Sep – Oct 13 call spread on the retailer trades for 50c, 933X on CBOE. The time spread has traded multiple times and volume in both contracts is more than 6K. The flow [...]
Chesapeake sees a hefty ratio spread as shares rally 5.9%. The stock is up 43c to $7.70 and the Oct 6 – 7, 2X1, put spread on the oil and gas company trades for even money, 20000X. A buyer is likely opening the spread as part of a hedging strategy against underlying shares. If bought-to-open, [...]
Notable combo in Graphic Packaging December options. The stock is up 26c to $14.20 and the Dec 12.5 – 15 bearish risk-reversal on the paper company trades at a nickel, 11000X. Both contracts traded more than 12.5K and the flow likely closes a position opened on 6/9 when the same combo traded for 30c, 12000X. [...]
Short-term call buyer opens a position in SpringLeaf. The stock is up 92c to $44.41 and 5K Sep 45 calls on the consumer finance company trades for $1.35 when the market was 80c to $1.45. It’s tied to 201K shares and the activity opens the second largest block of open interest in the name behind [...]
Repeat activity in Fidelity National upside call options. Sep 37 calls on the title insurance company traded at 20c per contract as sellers opened nearly 10K contracts at that line Friday. Early trades today include a multi-exchange sweep of 3.5K Sep 37 calls on Fidelity National at 15c when the bid-ask was 15 to 45c, [...]
Oracle puts outpace calls nearly 10:1. The stock is up 78c to $37.05 and Sep 35.5 puts are the most active options on the software-maker. The flow includes a sweep of 6.2K contracts at 49c per contract when the bid-ask was 49 to 51c. A seller is opening a position, according to ISEE data. 7.7K [...]
Noble Corp Sep 30 calls with a second day of active trading. Friday’s flow created nearly 15K of open interest at that line as buyers opened positions for $1.50 per conrtract early and up to $2.40 later. The stock has added 23c to $30.96 after the long weekend and 10.4K Sep 30 calls on the [...]