Post by Deleted on Jul 11, 2017 17:27:49 GMT
This morning we had just over 500 total options traded after 1 hr. As of now, the totals are: 7724 calls, 7198 puts, and 14922 total.
The raw numbers are a bit misleading, as there was a pair trade of 7000 calls and 7000 puts, both the Sep 17 expiration, both at the $10 strike. None of these apparently traded at or above ask, according to TOS. I'm not really sure what the trader's objective was here. The puts are nearly $4 in the money, and traded at about $3.90 each, for a total of about $2.73 million. The calls traded at only about a nickle each, or about $35,000. Interesting trade for sure. Did someone sell puts to buy calls? If the stock doesn't trade above $10 by September, the $35,000 is lost.
But this trade could be someone exiting positions. I don't know what the open interest was before, so I can't tell if it increased or decreased from this transaction. If anyone else has an insight, I would appreciate the feedback.
The raw numbers are a bit misleading, as there was a pair trade of 7000 calls and 7000 puts, both the Sep 17 expiration, both at the $10 strike. None of these apparently traded at or above ask, according to TOS. I'm not really sure what the trader's objective was here. The puts are nearly $4 in the money, and traded at about $3.90 each, for a total of about $2.73 million. The calls traded at only about a nickle each, or about $35,000. Interesting trade for sure. Did someone sell puts to buy calls? If the stock doesn't trade above $10 by September, the $35,000 is lost.
But this trade could be someone exiting positions. I don't know what the open interest was before, so I can't tell if it increased or decreased from this transaction. If anyone else has an insight, I would appreciate the feedback.