Largest option buying in equities so far
David Russell | [email protected]
Cisco Systems (CSCO): Some 52,000 June 25 calls were bought, mostly for $0.19 to $0.28, as investors look for the tech giant to keep climbing. CSCO rose 1.25 percent to $24.18.
Phillips 66 (PSX): More than 14,000 May 65 calls were purchased, mostly for $0.35, against open interest. The investor probably closed an existing short position, allowing them to stay long shares through expiration today. PSX rose 1.72 percent to $64.94.
Facebook (FB): An even 10,000 July 22 puts were bought for $0.17 as investors brace for potential downside in the social-media stock. FB rose 0.91 percent to $26.37.
Disclosure: I own CSCO puts.