Too Many Options: $EBAY, $EEM, $EWZ, $ IWM, $PFE, $SUNE

by Dan February 27, 2014 4:30 pm • Commentary

Below is a list of some of the more interesting options blocks that traded today:

1. PFE – the Big Pharma company takes the prize for the single largest block of single stock options that traded all day.  When the stock was $31.84 shortly after the open a trader sold 69k Jan15 $30 calls at 3.00 to close.  There was 82,000 of open interest in the strike.

2. EBAY – As activist investor Carl Icahn continues to pursue his agenda to have management split PayPal from the auction business, traders see potential for more short term gains despite the stock making new multi year highs today. Options volume was hot at 5x average daily volume with a buyer of 40,ooo of the March 62.50 / 65 call spreads for .23 when the stock was $58.83.  This trade breaks event at 62.73 up 6.5% on March expiration, in just 3 weeks.

2. SUNE – On Monday a trader bought 35,000 SUNE April 18 calls for 1.08 to open, after rolling up from the April 16 calls (, the trader rolled again with the stock’s 2 day gains equaling 11.5%. The trader sold 35,000 of the April 18 calls at 2.01 to close and bought 46,000 April 20 calls for 1.22 to open.

4. EEM – saw a decent roll up in calls, trader sold 30k April 40 calls at .99 to close and bought 30,000 April 42 calls for .27 to open.

5. EWZ – had one of its best days in a while, up more than 3%.  Options volumes ran 2x average daily volume with a bent towards bullish trading.  In the afternoon when the etf was around $41.50 a trader sold 10,000 Jan 29 puts to buy 15,000 of the Jan 45/52 call spread for .41

6. IWM – saw some put buying in the morning, shortly after the open there was a buyer of 29,000 of the April 110/98 put spreads for .85 to open and just now there was a buyer of 15,000 of the March 31st quarterly 116 puts paying 1.98 to open