The Options Insider

Long Call Spreads Go Up in TAP

by | Mar 11, 2015 | Unusual Activity

5000 TAP Jan 2016 65/100 call spread went up in two blocks near the middle marked buy-write as this trader is trying to get long.

Size put buyers in FXE- giant put spread

?FXE

Shares of Currency Shares Euro Trust (FXE) are down 1.25 to 104 today.? FXE is near the bottom of the 52 week range.

  • Paper traded 191000 FXE Jan 2016 94/102 puts spreads for 1.96.
  • The ADV is 24456 contracts.
  • The OI is less than 200 contracts.

The volume went up in two giant blocks through the bid and offer.? FXE is making year lows today and this put buyer executed this near the close on Tuesday.? The timing was very good as they got another $1 drop in FXE.? The long put side traded through all the posted offers so this trade is bearish to open.? The notional value on this trade is $37+ million dollars.

  • IV 30 is trading for 13%.
  • HV10 is trading for 11%.
  • IV 30 is trading above the HV 10.

CurrencyShares Euro Trust (FXE) is an ETF that tracks the price of the Euro versus the dollar.

 

Call traders in C- diagonals go up

?CITI

Shares Citigroup Inc. (C) are up .77 to 52.01.? C is near the upper end of the 52 week range.

  • Paper traded 20000 C Mar 13 Weekly 53/Mar 27 Weekly 53.5 call spreads for .21.
  • The ADV is 97360 contracts.
  • The OI is 33000 and 953 contracts.

The volume went up in two large blocks mid-market.? C is moving up on a down market day today as traders look to position ahead of the FOMC minute release next week.? The spread looks opening and trying to catch a sneaky long delta after this week.

  • IV 30 is trading for 27%.
  • HV10 is trading for 21%.
  • IV 30 is above the HV 10.

Citigroup Inc., is a financial services holding company. The Company is engaged providing financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management to consumers, corporations, governments and institutions.

 

Call spreads in TAP- long call spreads

?TAP

Shares of Molson Coors Brewing Co. (TAP) are up .26 to 73.68 today. TAP is near the middle of the 52 week range.

  • Paper traded 5000 TAP Jan 2016 65/100 call spread for 11.15.
  • The ADV is 3117 contracts. ?
  • The OI is over 158 and 10 contracts.

The volume went up in two blocks near the middle.? The call spreads went up marked buy write as this trader is trying to get long. If this case the buy write is really a deep call with a short OTM call against it.? The client most likely exited a stock position and doubled the deltas on the call spreads.

  • IV 30 is trading for 29%.
  • HV10 is trading for 19%.
  • IV 30 is above the HV 10.

Molson Coors Brewing Company (MCBC) is a holding company. MCBC is a brewer and has a diverse portfolio of owned and partner brands, including signature brands Coors Light, Molson Canadian, Carling and Staropramen, as well as craft and specialty beers such as Blue Moon, Creemore Springs, Cobra and Doom Bar.