Major reversal in the REITs ETF, IYR, that was accompanied by large put volume.
- IYR – Trader sold around 50k of the Sept 62 puts, likely to close, at an average price of $0.113. Same trader bought the Oct 62 puts around 40k times for an average price of $0.857. Also, in the afternoon, trader sold 14k of the Sept 63 puts at 0.29 and 10k of the Sept 64 puts at 0.65, and bought 24k of the Oct 60 puts for 0.44.
- EWG – Buyer of almost 45k of the Oct 26 puts for an average price of $0.335. German elections are in late September.
- NOK – Stock is up more than 50% since the MSFT announcement last week. Calls very active. The Jan14 7 calls traded 47k on the day at an average price of 0.33.
- FIO – Active call buying the past 2 weeks. Buyer of 12,500 of the Mar14 18 calls for 1.60 right after the open. Buyer of 6,500 of the same line for 1.40 later in the day.
- FCX – Stock hit a four month high despite the weakness in copper. Buyer of 30k of the Feb14 34 calls for 2.05 in the morning.