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.
Big risk-reversal in BofA. The stock is down 23 cents to $17.69 on the heels of stress test results yesterday and the investor is buying the Jun 15 – 20 bearish rr on the bank for even money, 20000X. It appears to roll out of a similar position in Mar (20K Mar 18 calls also [...]
BofA Mar 18 calls seeing high volume ahead of the stress test results. Volume at that strike is now 103.5K against 105.5K in open interest. The contract is 8 cents out-of-the-money and will expire after tomorrow. The market is 10 to 11 cents. Some investors appear to be banking on good news.
Calls on National Bank of Greece lead puts by 7:1. Roughly 21,000 calls and 3,000 puts traded on the bank. The stock is up 15 cents to $5.62 in active trading of 2.1 milloin shares amid strength in the European banking names Wednesday. Aug 6 calls are the most actives in NBG, with more than [...]
Santander sees a hefty premium sale. The stock is off 3 pennies to $8.86 and 36,000 Jan 10 calls are sold on the Spanish bank at 22.5 cents. 37,770 traded on the day. Open interest at that strike is 96,380 and most were opened in the summer 2013. For instance, buying was noted for 50 [...]
Opening and closing in Ocwen. The stock is up 72 cents to $39.35 and it looks like the investor is selling 17500 Apr 30 puts on the mortgage loan company at 25 cents and buying 14900 Apr 35 puts for $1.10. The 35s open and the Apr 30 puts probably close from 2/20 when the [...]
Sizable spread in Citi options. The stock is off 49 cents to $47.94 and the investor was buying the Apr – May 55 calls spread on Citigroup for 15 cents. Looks like they’re paying 25 cents per contract to open about 20,000 May 55 calls, while closing a similar block of Apr 55s at just [...]
Bullish trading in Bank of New York options. The stock is up 69 cents to $33.45 and a 9045-lot of Sep 35 calls trades on the bank for $1.08 when the market was $1.07 to $1.08. After that, some smaller lots traded for $1.10 and $1.15 on ISE. A customer was buying-to-open, according to ISEE [...]
Opening activity in Ocwen. The stock is down 82 cents to $35.43 on news the company raised less-than-expected at a bond sale. Afternoon trades on the Atlanta, GA savings and loan include a 16500-lot of Apr 30 puts for $1.185 per contract. it’s an opening buyer.
Bullish combo in JP Morgan 2016 options. The investor sold the Jan16 55 – 60 risk-reversal on JPM at $2.5, 3000X. It looks opening and we’re hearing it is the same investor that initiated a similar, but larger, trade in BofA today (see this morning’s BAC color).