Shares of Facebook (FB) are trading lower on the session by 4.29%, at $18.27. The stock is breaking to fresh all-time lows, having careened lower since its IPO at $38.00.
Options action has been brisk on the name today; let?s take a look at the major block trades on FB so far.
The largest trade has been the sale of 2,000 Sept 7th weekly $19.00 calls @ $0.25. The trader came back six minutes later to sell another block of 1,000 calls, also at $0.25. Both trades went off on the bid. Open interest on the strike is only 2,152 contracts, indicating that some of this was new positioning.
The second largest trade in Facebook today has been the purchase of 1,792 August 31st weekly $18.00 puts at $0.10. The trader came back for more, buying two 1,000 contract blocks at $0.10 minutes later. All trades went off on the offer. Volume has since spiked to over 11,800 contracts; given the open interest of 1,580 contracts, there has been some new positioning here.
Near term implied and historical volatility are registering 45% and 57%, respectively.
Facebook, Inc. is engaged in building products to create utility for users, developers, and advertisers. People use Facebook to stay connected with their friends and family, to discover what is going on in the world around them, and to share and express what matters to them to the people they care about.