Too Many Options – $SPY, $VIX, $EEM, $FB, $ECA

by Enis August 27, 2013 4:18 pm • Commentary

Macro hedges dominated options activity.

  1. SPY – Customer rolled down Sept 169 puts (selling almost 50k), into the Sept 164/156 and the Oct 164/156 put spreads (bought almost 50k of each).
  2. VIX – Call to put ratio only 1.4 as Sept 14 puts were active, looks like mostly buying to close.  The Sept 17 and 20 calls were the next most active lines.
  3. EEM – Buyer of 44k of the Sept 35.50 put for 0.41 to close.  EEM hit its lowest level since early July.
  4. FB – Buyer of the Oct 45 calls this morning, which traded over 35k at an average price of 1.01 over the course of the day.  $38 and $42 are the support and resistance levels to watch.
  5. ECA – Trader sold 20k of the Jan14 15 puts at 0.45, to buy 20k of the Jan14 19 calls for 0.50.  ECA last traded above 19 in late May.  It has not traded below 15 since 2005.