Largest option buying in equities so far
David Russell | [email protected]
Pioneer Natural Resources (PXD): An investor sold a block of 24,750 December 110 calls for $7.50 against open interest and rolled their position to the December 130s, which they bought for $1.70. They collected $5.80 in the process and remain exposed to further gains in the share price. PXD fell 0.40 percent to $108.29.
Delta Air Lines (DAL): An investor purchased 20,000 January 20 calls, mostly for $0.30, looking for the airline to rally. DAL rose 3.91 percent to $9.31.
Bank of America (BAC): More than 18,000 October 9 calls were purchased, mostly for $0.63 to
$0.65, but volume was far below open interest at the strike. BAC rose 1.84 percent to $9.40.
U.S. Airways (LCC): An investor purchased more than 5,000 October 10 puts in the airline, looking for the stock to decline in coming weeks. LCC rose 5.63 percent to $10.89.
Disclosure: I own a put spread in LCC.