Largest option buying in equities so far
David Russell | firstname.lastname@example.org
General Motors (GM): A block of 5,400 January 34 calls were bought for $2.73 as an investor looked for upside in the auto maker. GM rose 0.60 percent to $33.65.
Microsoft (MSFT): Some 6,500 July 33 calls were bought, mostly for $2.17, as investors wagered on a rally in the software giant. MSFT fell 0.77 percent to $34.73.
Elan (ELN): Almost 26,000 June 12 puts were bought, mostly for $0.40 and $0.45, as traders braced for downside in the drug maker. ELN fell 4.66 percent to $12.49.