Largest option buying in equities so far

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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.

Bank of America (BAC): Investors bought the April 11 puts against open interest and sold the May 11s, indicating that an existing short position was rolled forward. It will profit from the stock going higher because puts are negatively correlated to the share price. There was also buying in the weekly 9 calls expiring this Friday. BAC rose 3.75 percent to $8.86.

Citigroup (C): More than 6,000 May 40 calls were bought and sold for $0.12 and $0.13 but volume was below open interest in the strike. C rose 3.29 percent to $33.94.

Groupon (GRPN): A block of 4,978 July 16 calls were bought for $0.70 and an equal number of July 20 calls was sold for $0.15. Known as a vertical spread, the position will leverage a rally in the stock. GRPN rose 0.20 percent to $13.58.

Nokia (NOK): A block of 12,000 May 5 puts was bought for $0.97 and an equal number of May 4s were sold for $0.26. Volume was below open interest in the 5s, indicating that a money-losing short position was rolled to the lower strike. NOK fell 13 percent to $4.38.

Morgan Stanley (MS): Some 11,500 January 2014 15 puts were bought for $2.78 as investors sought protection on the stock. MS rose 2.89 percent to $17.81.

Kroger (KR): An investor bought 10,000 April 23 puts for $0.15, but volume was below open interest in the strike. KR rose 1.03 percent to $23.51

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 Symbols: C , GRPN , KR , MS , NOK

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