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Thursday Options Screener: F, CHK, RIO, GLD, CTX, AA

A look at some unusual options activity in this morning’s screener.

Ford Motor Co. (F) – looks like a major strangle trade here. A couple 10k blocks in both the Sept. call with a $5 strike and the Sept. put with a $4 strike where 20,367 and 20,014 contracts have traded respectively.

Chesapeake Energy Corp. (CHK) – perhaps some nibbling on the July calls with a strike of $70 and $75 as the stock dropped to an intra-day low of $63.63 after hitting a 52-week high of $74 yesterday.

Companhia Vale ADS (RIO) – news of a global stock offering has put this name under pressure. There is substantial put option activity this morning in the July $35 strike and Sept. $30 strike where 14,875 and 18,506 have traded. The options volume represent almost one third of the open interest in those strikes with just two hours into the session.

SPDR Gold Shares (GLD) - possible straddle trade here. Seems that a trader took a position in both a call and put with the same strike price and expiration date – the July $92 strike, expecting a significant move in either direction.

Centex Corp. (CTX) – homebuilder just off a 52-week low with 22.4% short interest. There is speculative activity in the August $17.50 calls where volume stands at 8,510 and open interest is at 644.

Alcoa Inc. (AA) - notable interest in the October calls with a strike of $35 and the puts with a strike of $27.50.

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