Fred Ruffy

Fast Money Recap - HSBC Is Falling off a Cliff (1/12/09)

The bulk of the trading activity in HBC Monday involved a customer purchase of 75,000 March 45 puts that traded along with the purchase of 650,000 shares at $47, 12,500 March 35 puts at $1.35, 12,500 March 40 puts for $2.45, and the Sale of 50,000 March 50 puts for $4.30. All these traded at the same time by same customer. It could be some rolling of positions. The March 45 puts saw the biggest increase in open interest.