Option Traders Betting on Agriculture and the British Pound

Posted Sep 9th 2010 9:00AM by Wade Hansen
Filed under: Options, Agriculture, Stocks to Buy, Stocks to Sell, Currency

agriculture Option traders appear to be setting up for a bullish move on Market Vectors Agribusiness ETF (MOO). Traders plowed into 2,601 new call option contracts -- 20.81 times the average volume -- on the stock on Wednesday. And we know that traders were eager to get into this trade because 89% of the trades came in on the ask price.

The ETF closed Wednesday at $45.60, up 4.35% during the past month.

Option traders also look like they are preparing for a bearish move on CurrencyShares British Pound Sterling Tr (FXB). Traders bought 1,024.00 new put option contracts -- 4.16 times the average volume -- on the stock. A full 96% of these trades also came in on the ask price.

The ETF closed Wednesday at $153.91, down 2.81% during the past month.

Other stocks with notable call option accumulations include:

Kohl's Corp. (KSS) 10,264 calls -- 435% above normal -- 78% on the ask
Helix Energy Solutions Group, Inc. (HLX) 2,421 calls -- 656% above normal -- 75% on the ask
Progress Energy Inc. (PGN) 1,666 calls -- 952% above normal -- 70% on the ask

Other stocks with notable put option accumulations include:

TCF Financial Corporation (TCB) 5,475 calls -- 307% above normal -- 93% on the ask
Franklin Resources Inc. (BEN) 1,163 calls -- 453% above normal -- 89% on the ask
Cal Dive International Inc (DVR) 7,147 calls -- 26470% above normal -- 87% on the ask

Disclosure: Hansen does not own shares of the stocks discussed above. Positions can change without notice.

Tags: ben, cal dive international, CurrencyShares British Pound Sterling Trust, dvr, franklin resources, FXB, helix energy solutions, hlx, inthenews, kohls, kss, market vectors agribusiness ETF, MOO, pgn, progress energy, tcb, TCF Financial