Too Many Options: $GLW, $AAPL, $GM

by Enis April 24, 2013 8:04 pm • Commentary

Put/call ratio fell dramatically today, to near one month lows, as bullish bets multiplied.

  1. GLW – Largest print of the day was a morning seller of 62k of the August 14 calls at 0.62 to open, likely against a long stock position, looking to take advantage of today’s earnings moves.
  2. AAPL – Call to put ratio was around average, at 1.5 today.  The weekly 410 calls and the weekly 400 puts were most active, with implied volatility down across the curve.
  3. GM – Stock made a new 18 month high today, and weekly call sellers got excited as a result.  The weekly 31 calls traded almost 30k, and the weekly 30 calls traded around 15k, mostly buyers initiating.
  4. MSFT – Call to put ratio over 2 today, approaching extended levels for the name.  The May 33 calls traded almost 30k, and the Jul 33 calls traded around 24k, mostly buyers initiating.
  5. AIG – Seller of around 15k of the August 45 calls around 1.165.  Stock made a new 2 year high today, cleanly breaking above the 40 level.