Rather incredible to see BAC and AAPL take up almost all of the top 20 most traded single stock options today.
- AAPL – Stock and Options volume both near the highs of the year. I’ll discuss my views on AAPL stock in tomorrow’s Morning Wrap post. As for options trading today, I was surprised to see that the call to put ratio for today was still around 1.35, close to the average of the past few days. I would have expected a lower ratio than normal, but a lot of weekly call trading persisted, even with AAPL down from the get-go.
- BAC – Stock broke out above the $10 level on its largest stock volume since March. The Jan13 10 calls traded more than 100k, at an avg. price of 0.65, and the weekly 10.5, Dec 10, and Jan13 11 calls all traded more than 70k.
- FCX – The highest stock and options volume day in its history. 8 of the top 10 lines were calls, with obvious bottom-fishers lurking. The Feb 36 calls were the most active, trading more than 40k throughout the day at an avg. price of $0.78.
- APC – Large trader sold about 60k of the Jan13 80 calls at 1.081 to close, and bought 27k of the March 75 calls for 5.10 in its place.
- CSCO – The Jan13 20 calls traded more than 30k, almost all coming in the afternoon from one likely seller at $0.29