​Daily Bulletin: Monday Feb. 2

Facebook saw increased volume today, as one investor entered a large reverse conversion on the social media giant, selling 80,000 March 2015 80 puts for USD6.20 and buying 80,000 March 80 calls for USD1.03. However, it seems most traders are feeling pretty lackluster with the current state of volumes, despite the elevate volatility levels. Jan. has seen declines in options volume, as the VIX has touched 20 pretty consistently. We also talk to a sellside structurer today who is seeing increased activity in OTC U.S. exotic equity derivative strategies from hedge funds that are looking to play equity options against variance swaps or vol levels. Oppenheimer has also hired a former BNP hedge fund sales chief in Stamford.