Friday’s Notable Options Activity – $CBS, $LUV, $UUP

by CC March 23, 2015 9:03 am • Commentary

CBS – it looked like a trader closed the March 62.5 calls in CBS, 20,000+ at an average price of 94c or so. Dan pointed out some call buying back in Feb here: I assume this trader made money as the stock is up from 54 to 64 on the year. Those calls closed at around 90c and this trader avoided being long those shares into today as they were set to expire on Friday.

LUV – There was an interesting large print in LUV (Southwest) puts. It looks like a trader sold 20k of the April 44 puts, opening. That’s pretty big volume, open interest on that line was under 600 going in and the previous largest open interest on any line in April was about 2500.
UUP – A large call spread traded in the Bullish Dollar ETF in June as a trader sold 27,500 June 25 calls and bought 27,500 June 26 calls. This is likely a roll higher of an existing position. UUP is having a great run but saw some downward volatility in the past few days. There is huge open interest on the June 25 put line of 270,000 and those will be interesting to watch for when the traders close or roll that line.