Some high short interest names like GMCR and TSLA were up big today on better than expected earnings. RAX did the opposite and continues to implode off it’s highs. The market hung around on the upside most of the day but then found late day sellers due to currency craziness and Fed rumors. Here were some of the interesting options trades that caught our eye:
- TSLA – Huge day in TSLA with 321K options trading. That may be the biggest option volume day ever. Stock closed up almost 25% today after earnings yesterday afternoon. The May10 70 and 75 calls had big volume, as did the May18 60, 70 and 75 calls.
- X – A trader bought the June 16/19 put spread 6,000x for .99, this could be a roll, closing the 16 puts and buying the 19s to open, possibly protection against a long position
- LULU – LULU making new all time highs today, one trader fading the move, just bought the June 70/75 Put spread to open 2,000x for 1.27
- MBI – MBI over 20K Jun 17 calls traded. Opening. Livevol has IV30 down on the day almost 10%. Option volume as almost 96K versus an average of 22K with earnings after the bell. 7K+ of the Jun 15 calls and 6K+ of the June 19 calls also traded.
- JPM – JPM Dec 57 calls, 9597 traded for $.51 looks like a buyer opening. IV30 was up almost 4% today.
- PANL – over 8x average option volume with earnings after the close. Looks like a number of bull upside call spreads in May.
- HOLX – Trader bought the Sep 24 calls 3942 for $.45. IV30 was up 6.5%.
- DANG – buyers of the Jun 5 and Sep 5 calls pushing IV30 up 9%.
- QCOR – IV30 was up 16%. Buyers of the in-the-money May18 36 puts 2500 times in a batch of 1500 and 1000 for $2.10 a few minutes apart around 1:25.
- SPWR – big spike in IV30 today. The most highly traded line were the May 16 calls with over 2K trading, but there were buyers in the out-of-the money 19 and 20 calls such that the skew is pretty much an ascending line from the 13’s up in May.