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.

Bank of America (BAC): Some 14,000 April 12.50 calls were bought, mostly for $0.13, as investors look for upside in the share price before next week's earnings report. BAC fell 1.26 percent to $12.12.

Rite Aid (RAD): Some 21,000 April 2 calls were bought for $0.25 but volume was below open interest. They may be closing previous short positions or opening new longs in hope of continued upside in the drugstore company. RAD rose 5.9 percent to $2.25.

JP Morgan (JPM): Some 24,442 April 48 puts were bought for $0.17 against open interest and 21,000 May 48 puts were sold for $0.65. It appears that an existing short-put position was rolled as an investor bets that pullback in the share price will be shallow. JPM fell 0.61 percent to $49. (See related story )

Disclosure: I own RAD shares.

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

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