Wednesday’s Notable Options Activity: $XLE, $BHP, $CCI, $BRCM, $TMUS

by Enis November 28, 2014 7:00 am • Commentary

Not a surprise that options volumes were near their lows of the past year ahead of Thanksgiving.  VIX spot touched 12 on Wednesday for the first time since September.

1.  XLE – Dec5th expiration puts were active for the second straight day.  The Dec5th 86/84 put spread traded 45k times for 1.70 in the afternoon.  XLE is trading down about 4% in the pre-market at a 1 month low after the huge fall in crude oil on Thursday due to OPEC’s decision to keep production constant.  XLE’s 52 week low is $77.51 from Oct. 15th.

2.  BHP – Buyer of 12,500 of the Feb 47.5 puts for 0.59 in the morning.  BHP touched a 5 year low this month as commodity price declines weigh on the stock.  BHP has not traded below $47.50 since 2009.

3.  CCI – Seller of 15k of the April 82.5 calls at 3.05 to open, possibly closing from an initiation on Sept. 17th for 3.45.  CCI’s all-time high is $84.97 from October.

4.  BRCM – Buyer of around 9k of the Jan15 45 calls for 0.86 in the afternoon.  BRCM traded at its highest level since early 2011 on Wednesday, and is up 46% year-to-date.  The 2011 high is $47.39.

5.  TMUS – Trader paid 1.47 for 9,700 of the Feb 30 calls when the stock was trading around 29.20.  TMUS is down 13% year-to-date, and has traded between $25 and $35 for much of the past year.