J.K.K.

Options Research
June 2nd, 2015

LEAP REPORT
Keeping tabs on some of the larger plays in 2016 and 2017

SPDR S&P 500 (SPY):

On 4/13/2015, 35,025 contracts traded in the January (2016) 235 Calls for 0.95.
Open Interest went from 11,530 to 46,095 the following day.
As of this writing, the Current Bid Ask is 0.52 x 0.61 and OI sits at 46,629

Lyondellbasell (LYB):

On 3/6/2015, 26,307 contracts traded in the January (2016) 100 Calls for 3.20.
Open Interest went from 1,130 to 27,322 the following day.
As of this writing, the Current Bid Ask is 8.60 x 9.30 and OI sits at 27,991

SPDR Select Consumer Discretionary (XLY):

On 3/6/2015, 54,423 contracts traded in the January (2016) 86 Calls. Most were bought for 0.65.
Open Interest went from 10 to 54,433 the following day.
As of this writing, the Current Bid Ask is 0.26 x 0.68 and OI sits at 83,937

Currencyshares Euro (FXE):

On 3/10/2015, a total of 200,437 and 200,545 contracts traded in the January (2016) 102/94
Puts respectively (Put Spread). These were done for a 1.96 Debit.
Open Interest went from 121 and 64 to 200,032 and 200,000 the following day.
As of this writing, the Current Bid Ask is 1.40 x 1.49 for the 102 Puts and 0.49 x 0.53 for the 94
Puts. OI sits at 204,421 and 200,780 respectively.

Verizon (VZ):

On 4/20/2015, a total of 133,301 and 127,766 contracts traded in the January (2016) 55/60 Calls
respectively (Call Spread). These were done for a 0.35 Debit.
Open Interest went from 10,737 and 3,243 to 140,276 and 129,787 the following day.
As of this writing, the Current Bid Ask is 0.31 x 0.34 for the 55 Calls and 0.05 x 0.08 for the 60
Calls. OI sits at 146,814 and 131,649 respectively.

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YPF Sociedad (YPF):

On 4/28/2015, a total of 31,232 and 31,102 contracts traded in the January (2016) 35/40 Calls
respectively (Call Spread). These were done for a 1.45 Debit.
Open Interest went from 4,105 and 585 to 35,333 and 31,676 the following day.
As of this writing, the Current Bid Ask 1.00 x 1.50 in the 35 Calls and 0.25 x 0.70 in the 40 Calls.
OI sits at 35,301 and 32,373 respectively.

SPDR Select Technology (XLK):

On 1/21/2015, 20,002 contracts traded in the January (2016) 42 Call for 2.25.
Open Interest went from 907 to 20,907 the following day.
As of this writing, the Current Bid Ask is 2.73 x 2.93 and OI sits at 21,799.

General Electric (GE):

On 2/27/2015, a total of 133,095 and 125,648 contracts traded in the January (2017) 30/35 Calls
respectively (Call Spread). These were done for a 0.52 Debit.
Open Interest went from 10,396 and 2,358 to 141,958 and 127,791 the following day.
As of this writing, the Current Bid Ask 1.06 x 1.15 in the 30 Calls and 0.30 x 0.36 in the 35 Calls.
OI sits at 190,639 and 136,227 respectively.

PMC Sierra (PMCS):

On 2/12/2015, 24,221 contracts traded in the January (2016) 10 Calls. Most were bought for
1.00.
Open Interest went from 25 to 24,164 the following day.
As of this writing, the Current Bid Ask is 0.40 x 0.55 and OI sits at 24,448.

Herbalife (HLF):

On 8/22/2014, 43,194 contracts traded in the January (2016) 50 Puts. Most were purchased for
15.55.
Open Interest went from 9,080 to 47,884 the following day.
As of this writing, the Current Bid Ask is 8.15 x 8.60 and OI sits at 52,195.

Mondelez International (MDLZ):

On 10/3/2014, 10,052 contracts traded in the January (2016) 37 Calls. Most were purchased for
1.90.
Open Interest went from 2,854 to 12,844 the following day.
As of this writing, the Current Bid Ask is 4.55 x 4.90 and OI sits at 12,074.

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MetLife (MET):

On 12/23/2014, 20,014 contracts traded in the January (2016) 57.5 Calls. Most were purchased
for 3.10.
Open Interest went from 896 to 20,906 the following day.
As of this writing, the Current Bid Ask is 1.47 x 1.55 and OI sits at 25,107.

Calpine Corporation (CPN):

On 5/1/2015, 78,167 contracts traded in the January (2016) 19 Put for 1.05.
Open Interest went from 0 to 78,166 the next day.
As of this writing, the Current Bid Ask is 1.10 x 1.20 and OI sits at 78,175.

Vanguard FTSE Europe (VGK):

On 2/27/2015, 15,075 contracts traded in the January (2016) 60 Call for 1.20.
Open Interest went from 107 to 15,304 the next day.
As of this writing, the Current Bid Ask is 0.95 x 1.20 and OI sits at 15,876.

Kinder Morgan (KMI):

The January (2017) 50/60 Call Spreads have been active on numerous dates.
On 4/16, the 50/60 Spreads were bought for 1.00 Debit.
On 4/21, the 50/60 Spreads were bought for 1.05 Debit.
On 4/22, the 50/60 Spreads were bought for 1.05 Debit.
On 5/1, the 50/60 Spreads were bought for 1.00 Debit.
As of this writing, the Current Bid Ask is 0.91 x 0.99 in the 50 Calls and 0.15 x 0.27 in the 60 Calls.
OI sits at 398,035 and 387,828 respectively.

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