The stock is on the verge of touching it's 52 wk low. The two largest trades yesterday are bets that BP goes through that low and then some.

The company traded over 41,000 options on total daily average option volume of just 12,422. The action in the Aug 14 puts (sales), Aug 17 calls and Nov 18 calls (both purchases) has accounted for over 31,000 contracts

The company traded over 18,000 options in the first two hours on total daily average option volume of just 5,053. The largest trade, accounting for over 15,500 contracts, was an Aug 19 straddle sale in an earnings month

The company traded over 83,000 options in the first hour on total daily average option volume of just 1,977. All but 5 (five) contracts were puts

The ETN traded exactly 20,000 options on total daily average option volume of just 472. All the contracts went up in a six legged put spread in July (zero calls traded)

The US markets were up strong yesterday after a week of big gains. The market moving news was (in part) that China claims it will finally let its currency (yuan) appreciate against the dollar. The prior stance has been to peg the yuan to the US dollar (no floating rate).

The company traded over 5,000 options on total daily average option volume of just 497. All but five contracts were calls.

The company traded over 6,293 options on total daily average option volume of just 251. The action is in July; put buyer and call spread seller – both short deltas.

The ETN traded over 14,700 options in the first hour. 10,000 contracts traded on a July 26 straddle purchase (a purchase of volatility's volatility).

The company traded over 17,000 options on total daily average option volume of just 5,367. All but 744 (not a typo) contracts have been calls. The largest trades, accounting for over 14,000 options were July 27 and 28 call purchases

The company traded over 11,400 options in the first hour on total daily average option volume of just 2,754. All but 195 contracts were calls. The largest trades were call purchases in June and July.

The company traded over 10,000 options (4,000 + canceled) on total daily average option volume of just 2,265. ~9,000 options went up in the day's biggest trade, a Dec 14/20 risk reversal (buy puts/ sell calls).