Beer & Options Journal

Our boy's calls are worth $60 MM today. Nothing like making 30% on $45,000,000 in a week.
Was that you Surf?

 

Worth $65 Million one month later.

 

Is there a way to tell if this was a stand alone trade ? And not part of a hedge, etc .

 

Yeah there's been a lot of discussion about following large option trades here.
I don't think there's a way to really tell what the buyer was trying to accomplish, however this purchase was at the "ask" ... and as I recall it was all done in one trade pretty much.
Must have been a lucky Nigerian Prince.
I knew I should have answered that email.

 

You can see the trades from CME, I think--but it's usually pretty obvious from a 1, 2, or 5 min chart if it was a single trade from the volume, and if it's on the bid or ask.

 

Although, could be hedging a short in the common ? Or a short in another tech name ?

 

Could be either. If you can answer that, you'd be filthy rich. When I see big moves in the options volume I'll look around the market and see what I can find (it's not uncommon to see a likely linked move in the underlying or another symbol). I'm also conscious of what someone else could infer about my volume on less liquid instruments...being that on more liquid ones I'm just a drop in the bucket. But something like TTM, I've had positions open for weeks where I had consecutive transactions for the open and close on it.