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Options Action: Anadarko

Mike Khouw of Canter Fitzgerald spotted some unusual options activity in Anadarko . What must you know?

Khouw tells the desk, a big investor bought November 40 calls paying about $5 and sold the 27.5 puts against it for about $1.60.



How should you interpret the action?

It’s a bullish bet that only starts to make money if the stock trades above 41, says Khouw!

That suggests at least one big investor is willing to bet Anadarko, a 25% owner of the damaged well in the gulf, should get through the crisis in tact -- at least relatively speaking.

To learn more about this trade, watch the video now!



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Trader disclosure: On June 28, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (IPSU), (BX), (AGU), (PFE), (TER), (GMCR), (RSX), (TER), (AXP), (KO), (KR), (COST), (AMZN), (TEVA), (BMO), (DIS), (XCO), (SWN), (GMCR), (IPI), (SU), (XOM), (RDS.A), (COP), (OXY), (V), (FXB), (UPL), (JPM), (MS), ( C), (BAC), (GMCR); Terranova owns (GLD) 123 JULY PUTS; Terranova owns (GLD) July 120 puts; Terranova Owns (GS) Calls; Kelly owns (BP) puts; Kelly owns (FCX) puts; Kelly owns (GLD); Kelly owns (GDXJ); Kelly is short (GS); Seymour owns (AAPL), (BAC), (F), (MON); Pete Najarian owns (AKAM) call spreads; Pete Najarian owns (TEVA)

For Anthony Scaramucci
Scaramucci and SkyBridge Capital own (C)
Scaramucci and SkyBridge Capital own (F)
Scaramucci and SkyBridge Capital own (GS)
Scaramucci and SkyBridge Capital own (JPM)

For Joe Terranova
Terranova works for (VRTS)
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners owns more than 1% of (AMKR)
Virtus Investment Partners owns more than 1% of (IGE)
Virtus Investment Partners owns more than 1% of (DBV)
Virtus Investment Partners owns more than 1% of (XLB)
Virtus Investment Partners owns more than 1% of (XLV)
Virtus Investment Partners owns more than 1% of (XLY)
Virtus Investment Partners owns more than 1% of (XLI)
Virtus Investment Partners owns more than 1% of (XLU)
Virtus Investment Partners owns more than 1% of (DRYS)

For Brian Kelly
Accounts managed by Kanundrum Capital own (AUY)
Accounts managed by Kanundrum Capital own (GFI)
Accounts managed by Kanundrum Capital own (GDX)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own Gold
Accounts managed by Kanundrum Capital own Treasuries
Accounts managed by Kanundrum Capital own US Dollars
Accounts managed by Kanundrum Capital are short British Pound
Accounts managed by Kanundrum Capital is short (AMZN)
Accounts managed by Kanundrum Capital are short (RCL)
Accounts managed by Kanundrum Capital are short (XLY)
Accounts managed by Kanundrum Capital are short (XLE)
Accounts managed by Kanundrum Capital are short (AFL)
Accounts managed by Kanundrum Capital are short (CME)
Accounts managed by Kanundrum Capital are short (EWI)
Accounts managed by Kanundrum Capital are short (EWO)
Accounts managed by Kanundrum Capital are short (GS)
Accounts managed by Kanundrum Capital are short (HIG)
Accounts managed by Kanundrum Capital are short (RKH)
Accounts managed by Kanundrum Capital are short (XLF)
Accounts managed by Kanundrum Capital are short (XLI)
Accounts managed by Kanundrum Capital are short (FCX
Accounts managed by Kanundrum Capital are short (GFI)
Accounts managed by Kanundrum Capital are short (JOYG)
Accounts managed by Kanundrum Capital are short (XLB)
Accounts managed by Kanundrum Capital are short (XLK)
Accounts managed by Kanundrum Capital are short Oil
Accounts managed by Kanundrum Capital are short the S&P 500
Accounts managed by Kanundrum Capital are short the Canadian dollar
Accounts managed by Kanundrum Capital are short the Euro vs. Yen
Accounts managed by Kanundrum Capital are short the Aussie Dollar
Accounts managed by Kanundrum Capital are short (CAT)
Accounts managed by Kanundrum Capital are short (MET)
Accounts managed by Kanundrum Capital are short (WYNN)

For Whitney Tilson
Funds Managed By Tilson Own (BP)
Funds Managed By Tilson Own (MSFT)
Funds Managed By Whitney Tilson Own (BP), (XOM)

For Peter Boockvar
Boockvar owns Euros

For Ed Mills
***No Disclosures***

For Colin Gillis
***No Disclosures***

For Steven Weiss
Weiss is short (SLG)

For Mike Khouw
Cantor Fitzgerald makes a market in (APC)

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