Option volatility was subdued as traders digested weak economic data and more news from companies with operations in and around the Gulf of Mexico.
The CBOE Market Volatility Index (VIX), which is based on the implied volatility of the
options and is used as a gauge for fear in the market, was recently up 1.5% to 13.24. The CBOE Nasdaq Volatility Index, a measure of the implied volatility of the Nasdaq 100, was recently down 1.6% to 14.59.
saw a buyer of 36,000 January 12.50 calls. Ford shares were down 9 cents, or 0.9%, to $9.87.
had the October 25/27.50 call spread trade 25,000 times. In this case, someone appears to have bought the 25 calls and sold the 27.50 strike. The stock was down 11 cents, or 0.4%, to $25.40.
The October/November 32.50 put spread on
traded 10,300 times. This strategy, known as a time spread or a calendar spread, involved buying the November puts and selling the October puts. The stock was down 47 cents, or 1.5%, to $31.24.
Research In Motion
, which will report its earnings Wednesday, had bullish option buying as the stock traded higher. The October 85 calls have traded 1,400 contracts, the October 90 calls have traded 7,000 times, and 1,300 of the October 95 calls have traded. The stock was higher by 31 cents, or 0.4%, to $77.90.
had call sellers after the company was downgraded by J.P. Morgan from overweight to neutral. The December 15 calls have traded 2,000 contracts and the January 17.50 calls have traded 7,000 times. The stock was down 49 cents, or 3.37%, to $14.06.
had a seller of the April 5 calls more than 8,000 times. The open interest for that strike prior to the trade was 3,500 contracts. The stock was down 4 cents, or 0.9%, to $4.53.
To view Mike Marino's video take on today's option action, click here.