Options Spike: NRG Energy & Mirant (NRG, MIR)

247admin — Thu, 26 Jun 2008 15:32:01 +0000

There are two options contracts that are the most active on the CBOE today, and both are electric producers and power generation. NRG Energy, Inc. (NYSE: NRG) and Mirant Corp. (NYSE: MIR) hold the two top spots for options trading so far this morning.

NRG’s JUL08 $42.50 CALL with 15,005 contracts traded, and prior open interest of 2,168 contracts.
Mirant’s JUL08 $40.00 CALL with 15,026 contracts traded, prior open interest of 1,734 contracts.

This is far from normal options trading when you consider these normal volumes.

Jon Ogg
June 26, 2008

Major Block Trade: Mirant (MIR)

247admin — Mon, 23 Jun 2008 14:14:52 +0000

Mirant Corp. (NYSE: MIR) is seeing shares up 0.9% at $40.86 on heavy volume of 11.7 million shares as of 10:02 AM EST. While there hasn’t been any fresh news on the stock, there was a rather unusual trade. A single block trade posted on the tape for 8,498,396 shares at $40.90 at 9:46. As this was listed as being on an $0.11 downtick it has to be assumed that this was an institution selling. If this was a held trade or delayed report, then all bets are off there as to what the block was. But that trade alone represents more than 2-times its daily average volume before considering the other trading that has gone off. This trade represents nearly a $350 million worth of securities in a single trade. Based on March SEC filings, there are only five institutions with a stake larger than this block trade.

There have also been 10,000 of the MIR JUL08 $40.00 PUTS that traded hands, and the open interest in this was 12,029 before today. We’ve seen 5,000 of the SEP08 $40.00 PUTS trade as well, and that open interest before today was 8,434 contracts.

Avg. Daily Volume: 3.326 million shares
52-Week Range: $33.75 to $44.61
Market Cap: $8.46 Billion.

Jon Ogg
June 23, 2008

Volume Spike Investor » MIR

Options Spike: NRG Energy & Mirant (NRG, MIR)

Major Block Trade: Mirant (MIR)