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OptionsNews
An ahead-of-the-bell look at the market's biggest stories and a review of unusual options activity. Filled with smart market analysis from the ONN.tv team, "Options News" turns the market's top headlines into trading intelligence, hosted by Karla Yeh.
Selling a strangle in Smith International suggests bullishness throughout the immediate-term.
On today’s Options News, Carrie Long and the www.ONN.tv team cover interesting options action Smith International. The CBOE SPX Volatility Index (VIX) popped up one point to 22.6. Expiration Friday could boost implied volatility as investors adjust positions. Be sure to stay tuned to ONN.tv for continued updates on implied volatility, especially with options expiration coming up at the close today.
Strangle Seller in Smith International
During the last hour of trading yesterday, an investor sold 7,500 April 33-23 strangles for around $2.77 and also bought 5,000 April 27 calls for $3.20. SII shares closed down 81 cents to $26.77. The investor will make money if SII shares expire between $23 and $27. It looks like investors are looking for a range in the stock, which is a plausible idea considering the run in the shares.
For more breaking news and investment pointers on the options market, stay tuned in to ONN.tv.
