Too Many Options: Phones Active, $S, $BBRY, $AAPL, $NOK

by Enis March 20, 2013 7:12 pm • Commentary

Quiet day overall, but cell-phone related names were active:

  1. S – Stock broke 6 yesterday on large volume and held the breakout today.  Buyer of 20k of the Aug 7 calls at 0.15 in the afternoon.
  2. BBRY – Stock up 6.5% on upgrades.  Call to put ratio at 1.85, and weekly 16, 16.5, and 15 calls all traded more than 12k.
  3. AAPL – Call to put ratio at 1.5, and the weekly 455 calls and weekly 450 puts both traded over 25k on the day.
  4. NOK – Stock has been left behind in the sector’s run this year.  15k of the Jan14 3.5 puts were sold at 0.77 this morning.
  5. QCOM – The Jul 55/70 risk reversal traded 15k times at 0.79, to open.
  6. ORCL – Call volume dominated.  The June 40 calls traded 21k, led by buyers ahead of tonight’s print.  Apr 37 and 36 calls also active.  Stock down 8% after hours.
  7. PG – Likely long holder of the stock selling the Jan14 80 and 85 calls today (5k and 7k) to collect some extra yield.  Stock closed at a new high for the year.
  8. DIS – Big Jan15 75 / 80 call spread buyer.  The structure traded 25k times for 0.49.  Break-even is more than 30% higher from current stock price of 57.
  9. MS – The May 24 calls traded over 20k, mostly buyer at an average price of 0.65.
  10. BAC – The Mar28th 13 calls and the Apr 13 calls both traded over 30k.  Implied vol much lower in BAC today.