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.
Micron (MU): A block of 8,600 October 14 calls was bought for $0.93 and an equal number of October 16 calls was sold for $0.45. Known as a bullish call spread, the trade cost $0.48 and will earn more than 300 percent if the memory-chip maker closes at or above $14 on expiration. MU rose 1.26 percent to $12.85.
United Technology (UTX): A block of 4,000 November 90 puts was bought for $1.47 and an equal number of November 75 puts was sold for $0.33. Known as a bearish put spread, the trade cost $1.14 and will earn more than 1,200 percent if the industrial stock falls to $75 or lower on expiration. It's probably being used as a hedge by an investor who owns shares. UTX rose 0.39 percent to $100.22.
NetApp (NTAP): The September 38 calls are active, with buyers paying $3.30, but volume remains well below open interest at the strike. NTAP rose 2.82 percent to $40.41.
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