A general summary of options trading over the past few days as prices have rallied could be this: call profit taking, with some rolling into higher strikes and put buying with implied vols about unchanged… Volume has picked up, with around 280,000 trading (up, but not crazy or close to a record)… Note in the CME’s most active strike tool pictured below that calls traded slightly more than puts, but puts open interest increased by more than calls… This has been the pattern over the past few sessions… This was one of the more anticipated rallies as traders have been buying out of the 4Q18 (Dec18) money calls for the past year… Now, we’ll see if the front month (Nov) put buyers can cash in….
Great post on futures and options trading. Thanks for sharing.