pretty big trade that i saw today: XLE 50,000 Sep 98 puts @ bid, - TopicsExpress

pretty big trade that i saw today: XLE 50,000 Sep 98 puts @ bid, $1.94 (market order) wow those puts are already up to $2.52 someone just made a little more than $2.9 million today in less than 5 hours some is a placing bearing bet on energy/big oil company for later this fall. maybe it has more to do with the cyclical nature of gas prices or what? also did anyone jump on the vertex pharma lotto play this morning/yesterday afternoon? stock jumped 40% on promising data from their study. one can only imagine how much their stock will jump once they get FDA approval!

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