Option Block: The 100th Episode Extravaganza
Trading Block: A brand new Options Insider website! Are there any legs to the rally? Where was VIX during this rally? Netflix, the window maker, released earnings after the bell.
Odd Block: Unusual activity in:
Bank of America - (BAC)
Signs of optimism in the progress towards a European debt crisis deal has helped push Bank of America Corp. (BAC) and the rest of the financials higher this morning but early option activity in BAC suggests at least one investor believes this is the top in the companyís share price, at least for the rest of this week.
H.J. Heinz Co. - (HNZ)
A bearish put spread open today with an investor buying the December 50-55 Put spread on a 3-1 ratio 6,000 by 2,000 times. A net debit of $.625/spread was paid for this strategy that reaps maximum profits if HNZís shares settle at $50, or 5.9 % lower from todayís price, at December expiration. Earnings on the 18th.
Around the Block: An update on Netflix, will it bounce? Amazon earnings out 10/25, after the bell - is it wise to have underlying going into the earnings?
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