Too Many Options: $MRO, $EEM, $BBRY, $TLT, $X

by Enis November 4, 2013 4:30 am • Commentary

Low options volumes on a quiet Friday, with few single stock options of note.

  1. MRO – Customer sold 19,500 of the Dec 33 puts at 0.48 to open.  MRO last traded below $33 in August.  It reports earnings today after the close. 
  2. EEM – Call to put ratio over 2, with Jan14 upside calls most active.  On the put side, customer bought 13k of the Nov15th 41.5 puts for 0.28 to open.
  3. BBRY – Almost 40k of the Nov8th 8 calls traded on the day for an average price of 0.38, mostly buyer initiating.  Fairfax faces a deadline today on its $4.7 billion bid.
  4. TLT – Buyer of 23,750 of the Mar 112/118 call spread for $0.69 to open.  TLT has not traded above 112 since June.
  5. X – Stock is up around 50% in the past 3 months, approaching its January highs on Friday.  Trader rolled up call protection, trading the Jan14 26/23 put spread for 1.22, 20k times.