Largest option buying in equities so far
David Russell | email@example.com
Seagate Technology (STX): Volume surged in the July calls as an investor adjusted a bullish position in the 26s and 30s down to the 24s and 27s. They're still looking for a rally, but have lowered their upside target. STX rose 1.04 percent to $22.37. (See related story)
CIT Group (CIT): An investor bought 5,000 July 35 calls for $0.94 and $0.95 against open interest of just 169 contracts, looking for upside in the share price. CIT rose 1.27 percent to $33.60. (See related story)
Facebook (FB): More than 8,000 June 27 puts were bought, mostly for $1 to $1.30, but volume was below open interest. That suggests that short positions are being closed as investors lose confidence the stock will hold its recent lows. FB rose 0.11 percent t $26.93.