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.

Citigroup (C): Investors purchased some 10,000 October 31 calls for $0.60 and $0.61, looking for upside in the stock price. C rose 0.81 percent to $26.09.

General Motors (GM): Some 3,800 July 24 puts were sold for $4.15 and an equal number of July 20 puts were bought for $0.50. Volume was below open interest at both strikes, indicating that a bearish put spread was closed profitably. GM rose 0.61 percent to $19.93.

Warner Chilcott (WCRX): Volume surged in the July 16 puts, the October 18 calls and the July 20 calls, but volume was below open interest in all three. WCRX fell 1.05 percent to $17.84.

Microsoft (MSFT): More than 8,000 July 28 puts were bought for $0.13 to $0.17. Volume was far below previous positioning, so it isn't clear whether a new position was opened or an existing one was closed. MSFT fell 1.13 percent to $29.41.

SanDisk (SNDK): Almost 11,000 July 40 calls traded for $0.21, but volume was below open interest at the strike. SNDK fell 0.46 percent to $34.50.

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: C , GM , MSFT , SNDK , WCRX

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