Largest option buying in equities so far
David Russell | [email protected]
Activision Blizzard (ATVI): An investor bought 27,592 September 16 calls for $0.82 and sold 55,184 September 17 calls for $0.36. Known as a ratio spread, the trade cost almost nothing to open and will generate huge leverage on a move to $17, with upside risk above that level. ATVI rose 2.16 percent to $15.60.
Micron Technology (MU): Some 21,000 January 2015 15 calls were bought, mostly for $2.55 and $2.60, as investors continue to position for upside in the memory-chip maker. MU rose 1.18 percent to $13.75.
Citigroup (C): Almost 13,000 July 50 calls were bought for $2.25 to $2.40 as investors look for the financial giant to keep climbing. C rose 1.37 percent to $52.50.