Too Many Options: $MSFT, $VOD, $AA, $JCP, $FCX

by Enis August 7, 2013 5:25 pm • Commentary

Quiet with the exception of a few names.

  1. MSFT – Stock was the best performer in the S&P top 50 today.  The Sept 33 calls traded over 80k, with a midday buyer of around 50k at 0.20, and the Sept 32 calls traded over 60k on the day an average price of $0.545
  2. VOD – Trader sold the Jan14 30/33 call spread at $1.26, 30k times, rolling long Jan14 30 calls up to the Jan14 33 calls.
  3. AA – Buyer of 20k of the Jan15 7 puts for 0.65 to open.  AA last traded below $7 in 2009.
  4. JCP – For the second day in a row, there was a buyer of the Jan14 10/5 1×2 put spread, 8250 by 16,500 (same size as yesterday).  The structure cost around 0.78 yesterday and around 0.68 today (downside vol exploded today).
  5. FCX – Large buyer this morning of the weekly 30 calls, which ended up trading over 15k on the day.  FCX has not traded more than 25 cents over the 30 level since June 11th.