Largest option buying in equities so far
David Russell | [email protected]
Zynga (ZNGA): Some 15,000 September 3.50 calls were sold for $0.43 and an equal number of September 4 calls were bought for $0.36 but volume was below open interest. That suggests an existing short position was rolled down, resulting in a credit of $0.07, as the investor lowers their upside target on the gaming stock. ZNGA dropped 4.06 percent to $2.96.
Dell (DELL): Large blocks traded in the August 14 calls and the August 15 calls, but volume was below open interest in both. DELL is down 0.07 percent to $13.82.
Genworth (GNW): Some 11,095 June 4 puts and June 8 calls were bought for $0.05 and $1.05, respectively. Volume was below open interest in both, indicating that a short strangle was closed. GNW fell 1.96 percent to $8.51.
Bank of America (BAC): A block of 10,000 puts were bought at the 11.50 strike, expiring two weeks from now on March 8, for $0.27. The trade reflects a belief the shares will push lower in the near term. BAC fell 2.46 percent to $11.51.