Too Many Options: Macro Dominates, $EEM, $EFA, $XLF

by Enis June 3, 2013 7:28 pm • Commentary

Market participants have totally shifted focus to macro instruments, after micro analysis dominated most of 2013.  Options volumes reflected that shift, with ETFs dominating volumes.

  1. EEM – Big roll of the August 42 puts, sold to close around 131k times at 1.85, to buy 225k of the Aug 39 puts to open for 0.75.
  2. EFA –  Big roll traded in EFA puts, looks like a trader sold 131k of the July 60 puts at 1.93 to close and bought 131k of the Aug 58 puts for 1.48 to open
  3. XLF – Financials recovered near the close after being down most of the day.  The Jul 19 puts traded over 100k at an average price of 0.305
  4. DXJ – Buyer of 20k of the Jul 50 / 55 call spread to open, paid around 0.55 for the package.
  5. MNKD – Biotech name on a huge run in the past few months.  The Jan14 7, Jan14 9, and Oct 10 calls were the most active lines today.