Options Trading News

April 30, 2013  Tue 10:21 AM CT

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.

Phillips 66 (PSX): An investor bought 10,000 May 67.50 calls for $0.25 and sold an equal number of May 70 calls for $0.05. The call spread cost $0.20 and could earn 1,150 percent on a move back to $70. PSX fell 1.57 percent to $60.83.

Sprint Nextel (S): Almost 11,000 August 7 calls were bought for $0.42 but volume was far below open interest at the strike. S fell 1.33 percent to $7.03.

Comcast (CMCSA): An investor bought 5,000 January 35 puts of $1.07 and 5,000 January 45 calls for $1.43, looking for volatility to increase in the media stock. CMCSA fell 0.33 percent to $41.36.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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