Too Many Options: Calls Active, $NFLX, $ORCL, $INTC

by Enis March 26, 2013 8:59 pm • Commentary

CBOE Put to Call Ratio near the lows of the year as call buying dominated volume.

  1. NFLX – Stock up 5.5% on upbeat analyst commentary.  Call to put ratio was at 1.4, high for the name as 1 month average is closer to 1.  The weekly 190 and 195 calls both traded over 10k, and implied vol was up across most terms.
  2. LVS – Trader rolled 20k of the May 52.5 calls up to the May 55 calls to lock in some premium but stay long.  Stock broke 56 for the first time since Apr 2012.
  3. ORCL – Buyer of 37k of the June 35 calls paying around 0.25, could be to close as the open interest on the line is 68k.  Closing gap pre-earnings is at 35.765.
  4. INTC – The Apr 21 put vs. Apr 22 call traded around 20k, looks like a seller of the put to buy the call.  Stock up 3%, with resistance at the 200 day ma around 22.80.
  5. BBRY – Seller of 8k of the Apr20th 14 puts to buy 8k of the May 18 calls, collecting 0.48 for the package.
  6. RHT – Heavy call selling ahead of earnings later this week, mainly in the Apr 55 can 50 calls this morning.  Implied move is around 6.5% after today’s fall in vol.
  7. PFE – Stock hit 7 year highs as health care continues to lead this market higher.  The Apr 27 / 28 risk reversal traded 7k times at 0.02 midday.
  8. HK – Buyer of 23k of the HK Jan15 12 calls paying 1.10 this morning.  The last time the stock traded above 12 was in the spring of 2012.
  9. AMRN – Over 10k of the Apr 7 call and May 8 call lines traded, and 30 day implied vol was up 10 points on the day.
  10. AAPL – Call to put ratio at 1.45 on light volume for AAPL.  Weekly 465 call and weekly 460 put the most active, trading around 29k and 24k respectively.