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.

O'Reilly Automotive (ORLY): Some 17,500 May 80 puts were bought for $1.93 and an equal number of May 10 calls were sold for $1.30. The trade cost $0.63 and will profit from the shares pushing lower. It's probably being used to protect a long position in the stock. ORLY rose 1.09 percent to $89.67. (See related story )

Nokia (NOK): More than 36,000 April 4.50 puts were bought, mostly for $0.48, as investors brace for a reversal in the share price. NOK rose 0.43 percent to $4.64.

Bank of America (BAC): Some 11,500 March 9 puts were bought, mostly for $0.03 and $0.04. Volume was below open interest, so the investor may have closed an existing short position or could be looking for a drop. BAC fell 0.18 percent to $11.33.

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: BAC , NOK , ORLY

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