NEW YORK - An investor bought large blocks of upside call options on Thursday in companies such as Netflix and Amazon.com, trades reminiscent of outsized options purchases made in August by a large investor known as the"Nasdaq whale."
The four companies are collectively known among investors as the"Fang" group, for the first letters of Facebook, Amazon, Netflix and Alphabet's Google. In total, the investor paid a premium of about US$180 million for the options, which have a notional value of roughly US$1.7 billion, according to data from Trade Alert.
According to some analysts, that activity prompted September's tech-driven sell-off in US stocks, as dealers who sold those calls unwound the shares they had previously purchased to hedge against their short options positions.
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