Too Many Options: $XLF, $GLD, $MU, $SAN, $WAG

by Enis August 1, 2013 5:22 pm • Commentary

Options activity was much more active in ETFs than single stocks today.

  1. XLF – Buyer of almost 175k of the Sept 20 puts paying an average price of $0.2550 in the afternoon.  Open interest on that line was 120k prior to today.
  2. GLD – The Oct 135 calls traded over 50k on the day at an average price of 1.76.  There was a large buyer of that line yesterday afternoon, buying 40k to open at an average price of $2.29. GLD has not traded above 135 since June 6th.
  3. MU – The Jan14 12 puts traded 60k at 1.18, and the Jan14 14 calls traded 30k at 1.72, both as a package in the afternoon.
  4. SAN – Buyer of 25,300 of the Jan15 10 calls for $0.425 in the morning.  European banks have rallied in the past 2 weeks.  SAN has not traded above $10 since 2011.
  5. WAG – The Jan15 50 calls traded 24k at 6.05, looks like buying to open.  WAG made a new all-time high on July 22nd at 51.62, 2 pennies higher than the 51.60 high set in 2006, but the stock was unable to hold that new high so far.