Largest option buying in equities so far
David Russell | firstname.lastname@example.org
Kinross Gold (KGC): Investors bought the November 7 calls for $0.13 and sold the November 5 calls for $0.40. It appears they were rolling short positions lower, earning extra income and betting that there is little upside in the share price. KGC fell 5.60 percent to $4.55.
Morgan Stanley (MS): More than 6,800 July 24 puts were bought, mostly for $0.59, as traders look for the investment bank to head lower. MS fell 0.52 percent to $24.90.
Bank of America (BAC): Some 6,000 July 11 puts were bought, mostly for $0.04, but volume was far below open interest at the strike. BAC rose 0.32 percent to $12.71.
Disclosure: I own MS shares.