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.

JON OGG

September 3, 2008

Comments are closed

-->