Too Many Options: $INTC, $YHOO, $S Active

by Enis April 16, 2013 5:51 pm • Commentary

No major themes on a strong up day for the markets.

  1. INTC – Apr 22 calls were the most active line, driven by buyers for most of the day.  Around 85k traded at an avg. price of 0.29.  Stock unchanged after hours.
  2. YHOO – Apr 25 calls were the most active line, trading around 22k at an average price of 0.185.  Stock down 4% after-hours.
  3. S – The Aug 10 calls and the May 7 calls both traded over 35k as S continued to move higher, another 2% today.
  4. ABX – Buyer of 30k of the Jan14 30 calls for 0.38, possibly to close given open interest on that line.  ABX was trading near $30 just 2 weeks ago.
  5. BAC – Stock reports earnings tomorrow morning.  The Apr 12.5 calls were the most active, trading almost 50k on the day.
  6. PFE – The Apr 27 calls, Jul 26 puts, and Jul 30 calls all traded in a package, 10k times.  My guess is someone selling to close the Apr 27 calls, and trading the Jul 26/30 risk reversal to open.
  7. BP – Protection trade in October.  Someone sold around 20k of the Oct 41 calls at 1.85, and bought 16k of the Oct 37 puts for 1.16.
  8. F – The Jan14 12 puts were sold 20k times at 0.88 midday.  Separately, the Jan14 15 calls traded 20k times at 0.47.
  9. ACI – Stock made a new 52 week low today.  The Jul 6 puts traded over 13k at an average price of 1.58.
  10. AAPL – Stock has not breached the low of the year, 419, the past 2 days.  Call to put ratio at only 1.2 today.  Weekly 425 calls and weekly 420 puts traded around 25k.