Too Many Options: Old Tech Dominates, $INTC, $MSFT, $DELL

by Enis April 9, 2013 5:15 pm • Commentary

Old tech dominated single stock options flow as PC names rallied.

  1. INTC – Apr 22 calls traded over 55k throughout the day, mostly buying in the morning. Separately, a buyer of 14k x 42k of the Jul 18 / 16 1×3 put spread for 0.04 net debit.
  2. MSFT – Buyers of Apr and May calls as the stock ended higher by 3.5%.  The Apr 30 calls traded around 47k, and the may 30 calls traded around 32k.
  3. DELL – Buyer of 38k of the Jan15 15 calls at an average price of 0.61.  DELL’s high in 2014 is 14.64.
  4. TXN – Buyer of more than 25k of the May 35 puts at an average price of 1.26.  Implied vol popped 2 points in May on the outsized volume.
  5. JCP – The May 14 puts traded over 30k, with a morning buyer of 20k for 1.37 the largest print.  Buyer near the close of 10k of the May 12 puts for 0.58.
  6. TJX – Buyer, possibly to close, of 22k of the Apr 45 calls for 3.20 in the afternoon.  Also, there was a morning buyer of 30k of the Jul 45 puts for around 1.30.
  7. HOLX – May 24 calls, 5700 bought for $.20 opening.  Over 8900 traded on the day. Very unusual volume in this name.
  8. NWSA – Buyer of 10255 of the Jul 32 calls for $1.35, probably opening as open interest only 7820 on the line.  Implied vol in Jul up almost 2 points.
  9. QQQ – Likely seller to close of about 50k of the Apr 70 calls at 0.14 in the afternoon.
  10. SLV – Likely seller to close of 35k of the Jan14 40 calls at 0.21 (272k open interest on that line)