El Paso, The Exponential Options Volume Play of the Day

Posted in General 
September 3rd, 2008

El Paso Corp. (NYSE: EP) isn’t just seeing large and unusual options activity today.  It is seeing exponential options activity ahead of an industry presentation today.  As of 1:58 PM EST we have seen over 100,000 contracts in the OCT-08 $17.00 CALLS.  Before today, the open interest was only 4,528 contracts.

While this looks paltry in comparison, we are also seeing some activity in the $18 and $16 calls for the same month with more than 5,000 contracts each.  September options activity is also seeing increased activity. although at 2,858 of the $16 Calls and 1,615 of the $18 calls these will seem pidly in comparison.

Be advised that this 100,000 contract volume in the OCT-08 $17 Calls is even multiple sizes of all the other options’ open interest in all strike prices seen for the entire run of September and October combined.


September 3, 2008

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