Largest option buying in equities so far
David Russell | email@example.com
Best Buy (BBY): Some 6,800 January 19 calls were bought for $2.11 and a similar number of January 23 calls were sold for $0.83. Known as a call spread, the trade cost $1.28 and will more than triple the investor's money if the stock closes are or above $23 on expiration. BBY rose 6.70 percent to $18.47.
Bank of America (BAC): More than 10,000 January 10 calls traded for $0.18 to $0.20, but volume was far below open interest at the strike. BAC fell 0.49 percent to $8.12.
Mylan (MYL): More than 4,000 September 23 puts were bought for $0.26 and $0.27 as investors positioned for downside in the drug maker's share price. MYL fell 0.67 percent to $23.63.
Nokia (NOK): Investors bought the October 3 puts for $0.30 to $0.31, but volume was far below open interest at the strike. NOK rose 8.60 percent to $3.35.