Largest option buying in equities so far
David Russell | [email protected]
U.S. Airways (LCC): A block of 10,000 February 12 puts was sold for $0.03 and an equal number were bought in the February 13s for $0.15. Volume was below open interest in the 12s, indicating that a protective position was rolled to the higher strike. LCC rose 0.35 percent to $14.35.
Nokia (NOK): Large trades occurred in the January 2 puts and the January 2.50 calls, but volume was below open interest in both. NOK fell 4.40 percent to $3.91.
Marathon Petroleum (MPC): A block of 15,000 January 77.50 calls were bought for $5.50. A large block of shares were sold around the same time, indicating the use of a delta-neutral trade. The strategy is designed to profit from increased volatility rather than a move in a specific direction. MPC rose 1.66 percent to $74.10.
Liberty Global (LBTYA): An investor bought 20,000 July 75 calls for $1.65. A large block of shares traded around the same time, so the position might be delta neutral as well. LBTYA fell 1.15 percent to $67.98.