I’m going to be upfront: I’m supposed to be specifically focusing on unusual options activity. As for whether NetApp (NTAP) is on the list or not, I don’t know nor do I care all that much. Generally speaking, options screeners — especially those for the retail market — contain a lot of noise and misdirection. Instead, I found something far more valuable and that’s a structural (informational) arbitrage.
Traditionally, arbitrage means to exploit pricing inefficiencies — usually by buying an asset on one exchange where it’s cheap and simultaneously selling it on another exchange where it’s priced higher, thus locking in a risk-free spread. This category of arbitrage is known as spatial or cross-exchange. However, such opportunities are limited to institutional hedge funds running ultra-low-latency pipelines.
