Largest option buying in equities so far
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.
Corning (GLW): Some 62,000 January 15 calls were purchased for $0.01 and $0.02 but volume was below open interest at the strike. GLW rose 1.06 percent to $11.02.
JP Morgan (JPM): More than 15,000 January 2014 55 calls were bought for $0.67 as investors position for long-term upside in the financial giant. JPM rose 2.34 percent to $40.45.
Bank of America (BAC): More than 40,000 December 10 calls were purchased for $0.14 and $0.15 as investors look for the bank to rally. BAC rose 3.95 percent to $9.48.
Southwest Airlines (LUV): Some 18,000 January 7.50 puts were bought for $0.10. A large block of shares also traded around the same time, indicating the use of a delta-neutral trade that profits from implied volatility increasing. LUV rose 1.09 percent to $9.03.
Charles Schwab (SCHW): Some 15,000 December 12 puts were bought for $0.15 but volume was below open interest at the strike. SCHW rose 0.47 percent to 12.84.
Intel (INTC): Some 10,000 December 19 puts were bought for $0.18 as investors brace for further downside in the chip maker. INTC rose 0.84 percent to $20.36.