Other trades of note:

With Financial Select Sector SPDR ETF (XLF) at 25.01, a trader bought the Jul 21st 25 Calls for 26 cents and sold the Sep 15th 23 Puts for 19 cents. This traded 11,000 times for a net cost of 7 cents. This may be a bullish play on financials into second quarter earnings as a good portion of the XLF weighting reports over the next couple of weeks.   

With iShares MSCI Brazil Capped ETF (EWZ) at 34.52, one trader bought the Jul 21st 35 Calls for 46 cents and sold the Sep 15th 31 Puts for 54 cents. This traded 7,500 times for a net credit of 8 cents. It appears this may be a Collar around a short EWZ position.

iShares MSCI Emerging Markets (EEM) at 41.30, a Bull Call Spread traded 20,000 times. The trader bought the Sept 15th 42.50/44.00 Call spread paying 39 cents.

Increased Volume Activity:

Top 20 symbols ranked by today's option volume relative to average, minimum 200 average:

AREX, ZN, ICE, CBG, EIX, AVEO, FINL, SAVE, LB, NEWR, ONCE, RMBS, STT, EGO, ST, GNTX, NRG, GPS, CUDA, PTEN.

WT1