Largest option buying in equities so far
David Russell | [email protected]
Sprint Nextel (S): An investor purchased 10,000 January 1 calls for about 4.80, looking for the stock to keep rising. S climbed 0.44 percent to $5.76.
J.C. Penney (JCP): More than 40,000 November 17 puts were bought for $0.08, but volume was below open interest at the strike. JCP fell 1.46 percent to $25.65.
Wells Fargo (WFC): An investor bought 17,000 October 35 puts for $1.20 against open interest and sold a matching number of November 35 puts for $1.68. He or she collected a credit of $0.48 and now has another month for the shares to rebound. WFC fell 1.49 percent to $33.74.
Teva Pharmaceutical Industries (TEVA): A block of 7,000 November 35 puts were bought for $0.13 as investors position for downside in the share price. TEVA rose 0.04 percent to $39.46.