CAMS short for CurveAheadMarketStrategies.com screens found unusual activity in CALL and PUT options buying at several strike levels at mid-day trading in Prologis Inc. (PDL, quote)

Option traders are coming after the May CALL and PUTS at several strikes.

Volume vs. Open Interest

• May 37 CALL 1,000 volume against 38 open interest
• May 31 PUT  1,000 volume against 141 open interest
• May 34 PUT 1,000 volume against 101 open interest

Actionable Takeaway: Option traders could be speculating the mortgage could be in for near term soft patch. On the PUT side since both strikes match in volume could indicate a vertical strategy.

Prologis (PDL, quote) Summary:

PDL formerly AMB Property Corporation, is a real estate investment trust (REIT) and the general partner of the Prologis, L.P. (Operating Partnership). As of December 31, 2011, the REIT owned an approximate 99.55% common general partnership interest in the Operating Partnership and 100% of the preferred units in the Operating Partnership.