OptionsHouse

Options Trading News

April 17, 2013  Wed 10:27 AM CT

SLM: SEE CHART GET CHAIN FIND STRATEGIES
Nearing the halfway mark in today's session, here are the individual equity names with the most call and put buying on optionMONSTER's ActionTracker data system.

SLM (SLM): Investors bought 14,819 contracts each in the July 18 puts for $0.40 and the July 20 puts for $1.21. Known as a strangle, the position will make money from volatility increasing. SLM fell 1.32 percent to $20.55.

Bank of America (BAC): Some 64,000 April 12 calls were purchased for $0.04, but volume was below open interest at the strike. BAC declined 4.48 percent to $11.73.

Eli Lilly (LLY): An investor bought 9,014 April 52.50 calls for $4.33 against open interest. He or she simultaneously sold 9,014 July 55 calls for $2.75 and bought 9,014 July 47 puts for $0.22. That suggests they closed a protective collar strategy expiring this week and rolled it forward by three months. LLY fell 0.47 percent to $56.91. 
Share this article with your friends


OptionsHouse

Premium Services

Webinar Recording

Turbo Charge Your Trading Profits

Education & Strategy

Gamma

As we continue to discuss the Greeks, we come to the first of the strike based Greeks called Gamma. Gamma is known as the second derivative, while delta is the first.

View more education articles »