lavapit315
47 posts
msg #140342
- Ignore lavapit315 |
12/23/2017 7:48:00 AM
RXDX, The stock was up a lot and saw some Puts being bought for around .10 for $25 strike in Jul. Stock price is 26.85. Question is why does it show no open interest? Thanks for any explanation
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15minofPham
171 posts
msg #140346
- Ignore 15minofPham |
12/23/2017 11:21:23 AM
@lavapit315
The reason is because RXDX was $15 before yesterday's massive gap up so there was no reason why anyone would've bought the July 25 Puts until now. It was just too much out of the money. It's also a stock where the avg daily option volume is quite low.
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lavapit315
47 posts
msg #140353
- Ignore lavapit315 |
12/23/2017 4:02:26 PM
15minofPham
Ahhh, that makes sense. Thanks for your response
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15minofPham
171 posts
msg #140406
- Ignore 15minofPham |
12/26/2017 7:24:48 PM
Big Option Play Of The Day - FCX
FCX has been on a tear since it broke out of its range on December 12. Weekly chart show entire candle above the Mendoza Line for the first time since 10/29/12. Monthly show almost into the cloud for the first time since October 2014. Needless to say, bulls have been pent up for 5 years!
I've been waiting for a pullback but there hasn't been one! Two big million dollar buys occur today even though it was up another 3.15% pushing its daily RSI to the thin air of 84.47. First was for $1 million when 14,503 of the 1/19/18 19 Calls bought at .69. Second was for $1.3 million when 15,592 of the 3/16/18 20 Calls bought for .85. Break even for the first buy is $19.69 and second is $20.85. The Calls volume for the March expiration today was $34.5K, massive for FCX.
I'm in as soon as its within spittin' distance of the daily 8 EMA. At this point, I might be waiting for a long time!!!
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johnpaulca
12,036 posts
msg #140407
- Ignore johnpaulca |
12/26/2017 8:57:24 PM
FCX...good undervalued company. I posted sometime ago. You may also want to look at CLF, TECK
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15minofPham
171 posts
msg #140421
- Ignore 15minofPham |
12/26/2017 11:12:02 PM
Thanks JP! I like Teck. Monthly showing breaking out. CLF is lagging behind so it's trying to catch up. Please feel free to keep suggesting high option volume momentum stocks.
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lavapit315
47 posts
msg #140422
- Ignore lavapit315 |
12/27/2017 4:21:01 AM
@15minofPham
Can you explain "StoppedIM: Transaction was the execution of an order which was 'Stopped' at a price that did not constitute a Trade-Through on another market"
I was under the assumption that these were stop orders that were filled and not buys.
I really appreciate you taking the time to answer my stupid questions. :-)
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mahkoh
1,065 posts
msg #140434
- Ignore mahkoh |
12/27/2017 4:21:40 PM
Massive 82.000 contracts for UNP March 130 calls, representing $ 73 million. The trade was at the midpoint, but with the spread at 8.65 - 9.10 and the trade at 8.90 I would lean towards the calls being bought. Furthermore there were 11.000 calls traded ($ 21 million) half an hour later for the Jun 15 120 calls which had an open interest of 1.000 contracts, so these must have been a buy order.
My first thought when I saw these numbers was that the stock was probably going ex-div, but that is not until February.
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15minofPham
171 posts
msg #140448
- Ignore 15minofPham |
12/28/2017 12:12:09 AM
@lavapit315
Market Chameleon gets the definitions from Options Pricing Reporting Authority (OPRA). According to them, StoppedIM is, "Transaction is the execution of a sale at a price agreed upon by the floor personnel involved, where a condition of the trade is that it reported following a non-stopped trade of the same series at the same price."
I know this is not a Spread trade since I've never seen the same amount of shares next to a StoppedIM trade so I always use it like a Sweep trade. Contacting them at www.opradata.com might get you a clearer explanation.
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15minofPham
171 posts
msg #140449
- Ignore 15minofPham |
12/28/2017 12:25:39 AM
Big Option Trade Of The Day - UNP
I'm going to piggy back on mahkoh's post. This is the biggest trade I've ever seen since tracking big option volume. A buy of $73.3 million consisting of 82,432 of the 3/16/18 130 Calls for $8.90 crossed the tape a little after an hour after the market opened. To prove it's not a fluke, a nearly $22 million trade consisting of 11,288 of the 6/15/18 120 Calls at $19.40 happened 45 minutes later. This is $95 million in premium on a stock that broke out of its multi-monthly range in September.
Earnings for UNP is 1/25 so I'm thinking the first trade is an earnings trade. Break even is $138.90 on the initial and $139.40 on the latter. Even though it has had a nice run since September, today's total Calls volume was 96%. A reminder that I pay utmost attention to any above 90%. We'll have to monitor Open Interest to see if the investor sells before earnings. If not, and it gaps up, then they'll have a nice train ride to the bank! Choo!!! Choo!!!
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