Market News

October 4, 2013  Fri 4:14 AM CT

A complex call spread topped yesterday's option activity in oil refiner HollyFrontier.

optionMONSTER's Heat Seeker system shows that a trader bought 2,850 January 45 calls for $1.55 and sold the same number of November 44 calls for $0.95. Volume was multiples of the previous open interest at each strike, so this is a new diagonal spread.

The sale of the nearer-term options indicates that the trader sees limited upside in HFC before that November expiration but is looking for longer-term gains. (See our Education section)

HFC fell 0.88 percent to $41.81 yesterday, the middle of its recent range. It was above $44 a month ago and higher than $46 in late August.

More than 8,200 HFC options traded yesterday, almost triple its daily average over the last month.
News Archives
OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market VIEW FULL REPORT

Education & Strategy

From the AP Archives: If It's Not There...

I have talked at great length about the fact that as an individual investor, you do not have to be in the market at all times.

More education articles »