Largest option buying in equities so far

David Russell (david.russell@optionmonster.com)
April 17, 2013

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.

SLM (SLM): Investors bought 14,819 contracts each in the July 18 puts for $0.40 and the July 20 puts for $1.21. Known as a strangle, the position will make money from volatility increasing. SLM fell 1.32 percent to $20.55.

Bank of America (BAC): Some 64,000 April 12 calls were purchased for $0.04, but volume was below open interest at the strike. BAC declined 4.48 percent to $11.73.

Eli Lilly (LLY): An investor bought 9,014 April 52.50 calls for $4.33 against open interest. He or she simultaneously sold 9,014 July 55 calls for $2.75 and bought 9,014 July 47 puts for $0.22. That suggests they closed a protective collar strategy expiring this week and rolled it forward by three months. LLY fell 0.47 percent to $56.91. 

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