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.
Best Buy (BBY): Some 9,000 September 32 calls were bought for $1.60 and an equal number of September 36 calls was sold for $0.42. Known as a bullish call spread, the transaction cost $1.18 and will earn a maximum profit of 239 percent on a move to $36 by expiration. BBY rose 1.21 percent to $31.68.
Gap (GPS): Almost 5,000 August 46 puts were bought, mostly for $0.86, as investors seek to guard against a pullback in the retail stock. GPS fell 0.26 percent to $46.36.
Qualcomm (QCOM): A block of 5,250 October 65 calls was sold for $2.65 and 10,500 October 70 calls were bought for $0.75. Volume was below open interest a both strikes, suggesting that an existing bullish ratio spread was closed. QCOM fell 1.34 percent to $65.86.
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