Bearish
Big Put Buyer in Financial Select Sector (XLF)
Big print in the SPDR Financials (XLF) as 81,000 Jan $15 puts are bought on the ETF for 39 cents per contract, to open. The hefty block of puts might replace some of the April contracts that are set to expire. Apr 16, 17 and 18 puts are the largest open interest positions in XLF [...]
Who’s Driving the High Put Volumes in GM?
GM is up 35 cents to $29.26 and some investors are showing interest in deep out-of-the-money Jan 20 puts on the auto-maker today. Several small lots printed for 45 cents per contract and then 12,150 traded for 46 cents per contract on CBOE when the market was 42 to 47 cents. 12,977 now changed hands [...]
Heavy Trading Hits the Financial ETF (XLF)
SPDR Financials (XLF) is off 10 cents to $18.45 after JPM and WFC slippped on earnings Friday morning. XLF is drifting a bit lower after a 13.5 percent year-to-date rally and one investor in the options market appears to be anticipating additional losses for the financials next week, as a 100,000-lot of Apr 18 puts [...]
Microsoft (MSFT) Draws Massive Put Spread
Microsoft (MSFT) drops $1.38 to $28.90 after data from IDC showed worldwide PC shipments down 13.9 percent in the first quarter — LINK to story. The news is weighing on large cap names throughout the tech sector Thursday morning, including Microsoft. Shares are under pressure and recent trades on the stock include an Apr 29/30 [...]
Microsoft Corp (MSFT) $30.20 +1.99%
Not everyone is hopping on the Microsoft bullish bandwagon (see MSFT 10:15 color). A block of 55,000 Apr 30 puts is bought on the software giant for 51 cents per contract. It’s tied to 1.5 millino shares for $30.25. Total volume at that strike is now 71,600 against 23,503 in open interest. The company will [...]
Texas Instruments (TXN) Draws Unusual Trading Activity
Texas Instruments (TXN) is off 21 cents to $34.86 and May 35 puts on the chipmaker are actively traded Tuesday morning. 18,900 traded against 1,225 in open interest and the flow has been in smaller lots. The biggest trade is a sweep of 1,240 contracts for an average of $1.25 when the market was $1.20 [...]
Chips Set to Fall for RF Micro Devices (RFMD)?
RF Micro (RFMD) is up 6 cents to $5.18 and morning trades on the stock included a multi-exchange sweep of 5600 May 5 puts for 35 cents per contract. A customer bought to open, according to data from ISE. 7,868 contracts traded and, if the entire flow is opening, will represent the largest block of [...]
Big Put Option Block Hits Bank of America (BAC)
Bank of America (BAC) is up 12 cents to $11.93 and one of 26 Dow stocks holding gains through midday Thursday. The biggest options trade of the day is in BofA after a 60,000-lot of Nov 9 puts was bought for 21 cents per contract, to open. I’m hearing it was tied to stock for [...]
Delta Air (DAL) Draws Heavy Call Volume. Stock Drops
Delta Airlines (DAL) drops $1.10 to $15.15 in very active trading of 29 million shares and options volume on the airliner is running 3X the daily average. 35,000 calls and 7,500 puts so far. The top trade is an 8000-lot of Sep 17 calls at 85 cents per contract. It was sold and probably covers [...]
Light Volume Lifts SPX to Records. VIX Drops Almost 30% in Q1
VIX drops .37 to 12.78 as the S&P 500 appears poised to take out its Oct 2007 record closing high of 1,565.15. With 20 minutes left to trade, the S&P is up 5.20 points to 1,568.06. Volume in the index market is slowing heading into the three-day weekend and projected to be 1.1 million contracts [...]
