Here is some generally directional, untied options activity that caught my eye during Friday’s trading:
1. SPY – despite closing down nearly 1.5% on the day, the largest trade of the day was a massive bullish roll when the S&
Some got spooked by Friday’s knee jerk reaction in stocks (and bonds for that matter) to the better than expected Feb Jobs data, and want to know where the next real support level is in the S&P500. Look no further than 2000 in the index ($200 in the SPY) as it corresponds almost exactly to the index’s 200 day moving average (circled below):
2. XLY – the consumer discretionary etf saw a sizable out of the money call purchase,
3. NEM – Gold had one of its worst days in a very long time, closing down nearly 3% on Friday, while the Gold Miner etf closed down 7.5%. NEM which closed down nearly 8% saw total options volume 3x average, with puts outnumbering calls 2 to 1. When the stock was 24.
4. EWZ – the ETF that tracks Brazilian equities closed at a new 6 year low, and when the etf was 31.
5. FXI – on a week that saw China lower interest rates to start the week off, and lower their GDP target, was interesting to see the Chinese equity etf close nearly at 2 month lows, with put volume on Friday more than 3x that of calls at 86,000 to 27,000. When the FXI was 41.