Too Many Options: Tech Dominates, $AAPL, $BBRY, $CSCO

by Enis March 13, 2013 6:30 pm • Commentary

 

  1. BBRY – Call activity was rampant on the afternoon rally after the announcement of the 1m unit Z10 sale to a partner.  The weekly 15 and 14 calls traded 26k and 21k, respectively.
  2. CSCO – The Apr 21 / 20 put spread traded this morning around 0.20, about 15k times.  The stock has found resistance at 22 in the past week.
  3. AAPL – The volume quite similar to yesterday, with call to put ratio around 1.5.  Weekly 440 and 435 calls the most active, each trading more than 40k.
  4. EMC – The weekly 25 calls traded 26k at an average price of 0.19, as EMC briefly breached its 200 day moving average (at 25.11) to the upside for the first time since October.
  5. WFR – Stock declined on a weak near-term outlook for solar sales.  Looks like a holder of 20k of the Jul 5 calls threw in the towel this morning, selling to close at 0.58.
  6. GE – A long-term bullish bet, as the trader bought 25k of the Jan15 30 calls to open over the course of the day for an average price of 0.50.
  7. ETFC – Someone bought 20k of the Jan15 7 puts for 0.41, likely to close as the stock has had a very strong rally, and that line has 20k of open interest (initiated in November when option price was around 1.35)
  8. NOK – Stock has struggled since January, and made a new closing low for the year today.  Jul 4.5 and 4 calls traded around 15k.
  9. MHP – Trader likely sold 15k of the May 50 calls to close around 1.90 early in the morning, a line that was initiated around 1.40 2 weeks ago.
  10. NFLX – Above average volume today as NFLX ramped on the FB deal.  The weekly 190 puts traded over 13k, and the weekly 195 and 200 calls traded over 12k.