Too Many Options: $QQQ and $AAPL Most Active

by Enis April 30, 2013 9:02 pm • Commentary

The tech sector was the strongest today, and call buying was concentrated there.

  1. QQQ – Technology has been a strong outperformer this week, and QQQ made a new high today.  The June 71 calls traded over 125k times at an average price of 1.12, buyers initiating.
  2. AAPL – Stock undergoing accumulation in the past week, as it has traded over 20 million shares on 5 of the last 6 trading days.  Call to put ratio up to 1.75 today, and the weekly 440 and 450 calls both traded over 40k.
  3. TSLA – The June 40 calls traded over 36k around 16.00, which is likely related to a synthetic forward position rather than an outright directional bet.
  4. WMB – Stock reports next week, and is trading near all-time highs around 40.  Buyer of 20k of the Jul 41 calls to open for $0.58, likely playing for a breakout to new highs.  Earnings next week.
  5. STZ – Stock has doubled in the last year, mainly based on its deal for Corona (Crown Imports).  Buyer of almost 10k of the May 50 calls, paying around 0.38 on average.