Largest option buying in equities so far
David Russell | [email protected]
Williams (WMB): Blocks of 25,024 contracts each traded in the October 37 calls for $0.75 and the November 39 calls for $0.79. It's not clear if the position was opened or closed, but it's bullish and reflects a belief that the shares will continue higher in coming weeks. WMB fell 0.14 percent to $36.43.
Bank of America (BAC): More than 22,000 October 10 calls were bought for $0.07 to $0.09 as investors position for continued upside in the giant U.S. lender. BAC rose 2.74 percent to $9.36.
Citigroup (C): An investor bought 10,000 December 32 puts for $1.09 and sold an equal number of December 28 puts for $0.37. Known as a put spread, the trade cost $0.72 and will earn a maximum profit of 456 percent if the stock closes at or below $28 on expiration. C rose 2.41 percent to $34.88.
Hewlett-Packard (HPQ): Volume surged in the October 14 puts and the 15 weekly puts expiring tomorrow as traders position for continued downside in the beaten-down computer maker. HPQ fell 2.75 percent to $14.50.