Largest option buying in equities so far

By David Russell,

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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.

Sprint Nextel (S): An investor purchased 10,000 January 1 calls for about 4.80, looking for the stock to keep rising. S climbed 0.44 percent to $5.76.

J.C. Penney (JCP): More than 40,000 November 17 puts were bought for $0.08, but volume was below open interest at the strike. JCP fell 1.46 percent to $25.65.

Wells Fargo (WFC): An investor bought 17,000 October 35 puts for $1.20 against open interest and sold a matching number of November 35 puts for $1.68. He or she collected a credit of $0.48 and now has another month for the shares to rebound. WFC fell 1.49 percent to $33.74.

Teva Pharmaceutical Industries (TEVA): A block of 7,000 November 35 puts were bought for $0.13 as investors position for downside in the share price. TEVA rose 0.04 percent to $39.46.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing Options
Referenced Stocks: JCP , S , TEVA , WFC

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