Largest option buying in equities so far
David Russell | firstname.lastname@example.org
Nokia (NOK): Investors sold the July 2.50 calls and bought the July 3s. Volume was below open interest in both, suggesting that an existing bullish call spread was abandoned. The August 2 puts were also purchased for $0.22 as investors look for downside. NOK fell 2.28 percent to $2.14.
JP Morgan (JPM): More than 5,000 July 40 calls were purchased, mostly for $0.13 to $0.16 as investors look for upside in the share price. JPM rose 1.25 percent to $35.76.
Kraft Foods (KFT): A block of 4,000 September 32 puts was bought for $0.18, while an equal number of September 38 calls were sold for $1.13. The trade reflects a belief that upside is limited and the stock will now push lower. KFT fell 1.24 percent to $38.13.
MGM Resorts (MGM): Some 10,000 September 14 calls traded, mostly for $0.07, but volume was below open interest in the strike. MGM fell 0.43 percent to $10.45.