Exelon (EXC) is down $1.36 to $42.01 on an analyst downgrade and some players seem to be bracing for additional losses in the Chicago-based utility. About 10,000 puts and 7,135 calls traded on the stock so far. January 40 puts, (register to read more …) [...]

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Natural Fuel Gas shares are up 15c to $62.55, a new 52-week high and option volume is 50x the daily average on Big Prints in calls. The January $60 calls have traded 10,000 contracts in what looks like opening sale (register to read more …) [...]

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China Natural Gas shares are flat at $9.00 but option volume is 3x the daily average being driven large transaction in the June $7.50 puts as 9,750 (now total of 10,000) trade as the 35c bid. This looks to be (register to read more …) [...]

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Duke Energy (DUK) is up 57 cents to $16.58 and options volume is running 17X the usual on reports PPL is set to bid $7 billion for Germany’s E.On (see 11:29 color). Bullish trading is being seen in DUK because (register to read more …) [...]

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PPL, the Allentown, PA electric utility, is down $1.80 to $25.93 and hit a new 52-week low on reports the company is in talks to buy Germany’s E.On for $7 billion. The story was reported on CNBC just after 10:00. (register to read more …) [...]

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Reliant Energy sees notable call buying as 5,000 of the August $4 calls trade at the 40c asking price. Prior open interest in strike was 268 contracts so this is likely new bullish positioning.

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Reliant Energy (RRI), which Citigroup whacked with a Sell rating yesterday, is up a dime to $3.69 and trying to stablize after Thursday’s 12.4 percent slide. In the options, one noteworthy recent trade is 10,000 Nov 3 calls at the (register to read more …) [...]

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Calpine shares are up 10c to $11.05 and option volume is 3x the daily average being driven by block trade in LEAPs as the $12.50 calls Jan 2011 trade 5,000 contracts were bought for $1.10 and then in then 3,000 (register to read more …) [...]

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Consolidated Edison (ED) is up 3 cents to $39.92 and a block of 1845 Sep 40 puts for 40 cents on the ISE was an opening customer buyer, according to sentiment data. 2051 contracts now traded.

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RRI Energy (RRI) is down a dime to $6.05 and 15K Jan10 calls at the 7.5 strike traded. The action includes 10K bought for 50 cents and appears to be a new position. Existing interest is 1,869. No headlines on (register to read more …) [...]

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