Large Cap Stocks
TJX is flat at $44.91 and an investor sells a Mar – Apr 45 call spread on the stock at 60 cents, 30000X. The activity probably rolls a position in March 45 calls for 30 cents, which was opened mid-Feb at $1.05 (and rolling out of Feb 45 calls — see 2/15 color). Meanwhile, a [...]
Charles Schwab (SCHW) is up 4 cents to $17.70 and a Jan 15 – 17 (2X1) put ratio spread is bought on the discount broker for 2.5 cents, 5000X, to open. It’s possibly a protective position against shares, as the max profit from the 1X2 happens if the stock falls to $15 through the expiration, [...]
Starwood Hotels (HOT) ticks 14 cents higher to $62.70 and early trades on the stock include a sweep of 1123 Mar 65 calls for 7 cents per contract when the market was 4 to 7 cents. A customer bought, to open, according to ISEE data. Then, a few smaller lots and a 4,000-contract block traded [...]
Ford call volume went from zero to 87,000 contracts in about 20mins this morning- leaving Puts in the dust (13K so far) as call buyers stepped in, particularly at the 13.5 strike in front (March 15th) and weekly (March 22) terms. Largest block was a buy of 25K 13.5 calls that expire Friday, for 2cents [...]
Largest single-stock block of the opening 30mins went up in Freeport McMoran, where a trader bought the Aug 41-45 call spread 17100x for 27c on the PHLX as shares traded near 32.90.
Wells Fargo options off to a busy start today, with a customer buying a bullish risk-reversal 3500x as shares traded near 36.60. Marked opening on the ISE, the cust bought 3500 Jan 37 calls for 2.18 and sold 3500 Jan 32 puts for 1.28, a net 90cent debit in what appears to be an outright [...]
Deutsche Bank (DB) drops 98 cents to $44.16, seeing relative weakness today (DAX is down .2 percent), and it looks like an investor sold 1,358 Mar 45 puts on the German bank at $1.20 to buy 4,000 Apr 42 puts for $1.15, possibly rolling a position out one month and down three strikes. 8,230 puts [...]
AT&T (T) is flat at $36.68 and small lots ofo Apr 36 puts traded for 55 and 56 cents, before a 7443-contract block printed for 57 cents. More than 17,100 traded against 8,724 in open interst. Mar and May 36 puts are also seeing interest. Bearish trading comes on news the company will offer Blackberry [...]
Kinder Morgan (KMI) is up 13 cents to $37.39 and a 5000-lot of Apr 35 puts is bought on the stock for 27 cents per contract. More than 11,000 now traded against 4,299 in open interest. The increased interest is possibly protective put buying against shares of the Houston, TX oil and gas pipeline company.
EMC adds 21 cents to $24.16 in active trading of 9.5 million shares on postiive broker commentary this morning and options on the storage device-maker are seeing unusual volume today. 32,000 calls and 7,750 puts so far. 74 percent of the activity is in the March term, which come off the board at the end [...]