Too Many Options: $BAC, $AAPL, $YHOO, $CAT, $GILD

by Enis May 7, 2013 8:45 pm • Commentary

Usual suspects active, with most other names quiet.

  1. BAC – The stock rose above its prior $13 resistance level today, only to close close to flat.  A lot of call selling today as vol got smushed.  The May 13 calls traded around 91k, and the June 13 calls traded around 77k.
  2. AAPL – Call to put ratio around 1.7, and the top 4 most traded lines were all weekly calls, all trading more than 25k – the 460, 465, 470, and 455 weekly call lines.
  3. YHOO – Stock moved above 25 for the first time since June 2008 as Alibaba and Yahoo Japan continue to drive the momentum.  The Jan14 30 calls were bought about 25k around a 1.13 average price today.
  4. CAT – The stock moved above its 200 day ma for the first time in 6 weeks.  The May 85 / 90 risk reversal traded 17,250 times in the afternoon for 0.74.
  5. GILD – The Jan15 47.5 / 37.5 put spread traded 14k times for $3.38.  Based on open interest, looks like someone rolling up their long 37.5 put protection up to the 47.5 put strike.