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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.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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