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): More than 30,000 February 6 calls traded, mostly for $0.15, but volume was below open interest at the strike. S rose 1.32 percent to $5.76.

Bank of America (BAC): Investors purchased more than 34,000 October 10 calls, mostly for $0.01 to $0.03. Volume was far below previous positioning, but the activity reflects continued bullishness in the U.S. lender. BAC rose 0.53 percent to $9.51.

Marathon Oil (MRO): An investor purchased 84,000 October 29 puts for $0.02 against open interest and sold a matching number of November 30 puts for $0.48. It appears they were previously short the 29s and rolled the position forward in time, which reflects confidence the stock will hold its ground or push higher. MRO rose 1.37 percent to $31.06.

American International Group (AIG): A block of 13,500 January 37 puts were bought for $1.87 and an equal number of January 32 puts were sold for $0.41, resulting in a net cost of $1.46. The put spread is bearish, and will earn a maximum profit of 242 percent if shares close at or below $32 on expiration. AIG rose 0.92 percent to $36.69.

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: AIG , BAC , MRO , S

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