Largest option buying in equities so far
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.
Dendreon (DNDN): Some 10,000 July 4 puts were bought for $0.30 as the drug maker pushed higher. That suggests investors are using the contracts to hedge new long positions in the stock. DNDN rose 4.75 percent to $4.21.
Microsoft (MSFT): An investor bought 14,000 January 2015 42 calls for $1.51 and sold an equal number of January 2015 37.50 calls for $2.91. Volume was below open interest at both strikes, so an existing bullish call spread may have been closed. MSFT rose 0.80 percent to $35.12.
Elan (ELN): A block of 5,000 July 12 calls was purchased for $1.60 as investors look for upside in the Irish drug maker. ELN fell 2.95 percent to $13.16.
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