Too Many Options: $JPM, $BP, $XLV, $BBY, $FNP

by Enis October 15, 2013 5:05 am • Commentary

SPY and VIX options were the most active, but here were a few other standouts.

  1. JPM – The Oct / Nov 52.5 put calendar traded around 20k times at 0.80.  The Nov / Dec 52.5 call calendar also traded 11,500 times at 0.50.  JPM still flirting with its 50 day ma around 52.50.
  2. BP – Protection buyer, as trader sold 20k of the Jan14 42 calls at 1.52, and bought 18k of the Jan14 37 puts for 0.30.
  3. XLV – Trader bought the Dec 51/48 1×2 put spread for about 0.37, around 9k x 18k.
  4. BBY –  Looks like a trader rolled up long Nov 37 calls, selling 7k at 3.50, to the Nov 40 calls, which traded around 15k at 1.73.  BBY made a new high for the year.
  5. FNP – Trader bought the Jan14 27/29 1×2 call spread for even money, 7500 x 15000 times.  Stock at a 5 year high.