Too Many Options: $CAM, $EEM, $MNKD, $NVDA, $SUNE, $SLV

by Dan February 24, 2014 4:48 pm • Commentary

Below is a list of some of the more interesting options blocks that traded on an otherwise quiet day in the options pits:

1. SUNE – made new four and half highs today and options volume ran hot at 6.5x avg daily volume.   The stock also saw the largest block trade among single stock names where a trader bought 35,000 of the April 18 calls for 1.08 to open.  This was apparently part of a roll as two minutes prior to this print there was 25,000 of the April 16 calls sold to close on the same exchange at 1.94.

2.  WMB – saw a massive long dated call spread purchase where a buyer paid 1.38 for 30,000 of the Jan16 50/60 call spread to open when the stock was 41.97 just shy of last weeks new all time high, besting the levels from 1999.  Break-even on this trade is up 22%, but the trader has until Jan 2016!

3. NVDA – saw more call buying today, after Friday’s very bullish activity, that we highlighted:,  today there was a buyer of 10k June 20 calls paying .67 to open

4. CAM –  traded 3.5x average daily volume today as there were 2 large blocks that stood out. The first looks like a sale to open of 8250 March 70 calls at .20 and then the second 2 hours later when the stock was 62.97, a buy to close of 20,000 March 62.50 calls for 2.35. There is 44,000 open interest in that line

5. SLV –has had a nice run of late, up 15% off of this months lows.  Some options traders see further upside, there was a buyer of 7500 May 22 calls paying up to .80

6.  EEM – trader sold 48,000 of the June 43, 43.50 and 44.50 calls at .53, .42 and .25 respectively and bought the June 39/34 put spread 48,000x for 1.19, the whole was traded for a .01 credit, but a shit ton of commission!

7. MNKD – options were active trading at almost 4x avg daily volume with the two larges blocks both being put purchases.  With the stock trading 6.41 there was an opening buyer of 10,000 of the April 4 puts for .89, these puts break-even down 50%.  The other trade that stood out was a buy of 10,000 April 3 puts that were bought to open for .60 with the break-even down 61%.