Heavy trading in PowerShares QQQ as shares fall
Heavy trading in PowerShares QQQ as shares fall. The ETF down $1.26 to $138.72 with Apple (AAPL) and other large cap tech pacing a broader retreat in the NASDAQ 100. In option action, 33K Aug 132 puts on the Qs are bought for $2.20, tied to shares on a 28 delta. 21K Jan 136 puts trade for $6.50, 20K Jan 130 puts for $4.77, 18.1K Sep 134 puts for $3.43, and 16.1K Jun 134 putsfor $1.95, all in separate transactoins. One player takes a bullish view, however, and sells 10K Jun 30th 131 puts to buy 10K Jun 30th 141 - 144 call spreads, paying 11c for the three-way. Total volume is respectable at 54M shares and nearly 1M options. Flow lopsided nearly 3:1 at 709K puts and 244K calls.