Post by Deleted on Apr 11, 2017 20:24:53 GMT
Wow, did we have some options trade this afternoon. This morning's post at about 11:30 indicated a very low volume day was at hand. But, here are the closing numbers: 820 calls; and, unless 8676 puts.
Frankly, I'm not really sure what to make of it. 97% of the 8676 puts were traded between bid and ask, indicating neither strong buying pressure nor strong selling pressure.
Here, with some additional detail on the puts, is my guess what's going on: 8,000 or the 8,676 puts were 4,000 June 2017 puts at $14, and also 4,000 Jan 18 puts at $15. Those are deep in the money puts, with 5 weeks left on the June's and 7 months on the Jan's. So most likely, someone who was long 4,000 June's, soon to expire, sold them (exchanged them) and bought the same quantity with more time to his position.
It could be a long, buying protection. It could be a short, extending his position.
Frankly, I'm not really sure what to make of it. 97% of the 8676 puts were traded between bid and ask, indicating neither strong buying pressure nor strong selling pressure.
Here, with some additional detail on the puts, is my guess what's going on: 8,000 or the 8,676 puts were 4,000 June 2017 puts at $14, and also 4,000 Jan 18 puts at $15. Those are deep in the money puts, with 5 weeks left on the June's and 7 months on the Jan's. So most likely, someone who was long 4,000 June's, soon to expire, sold them (exchanged them) and bought the same quantity with more time to his position.
It could be a long, buying protection. It could be a short, extending his position.