Too Many Options – $TSLA, $AAPL, $SODA

by Enis May 14, 2013 5:19 pm • Commentary

SPX now up 8 of the last 9 days, and TSLA is the new golden boy of the options market.

  1. TSLA – Rapidly becoming one of the most active names in the single stock options market, rivaling AAPL in total volume today.  The call to put ratio was 1.8 today (1 month average is 2).  Weekly 100 and 95 calls were the most active, trading around 20k.
  2. AAPL – Call to put ratio down to 1.2, as the stock sold off hard upon breaking $450.  The weekly 450 and 455 calls were the most active.  The heaviest open interest for monthly expiry is the 450 line in AAPL, which is worth watching for a potential pin by the end of the week.
  3. SODA – Stock continued its strong breakout move from last week (I missed it here), and options volume close to a record on SODA.  The weekly 65 calls were the most active, trading almost 7k, and the Jul 65 calls also traded around 6k.
  4. SNE – Calls and puts traded evenly on SNE, despite the stock’s 10% rally on Dan Loeb’s involvement.  The June 21 and 22 put spreads were most active, both trading over 7k.
  5. MYL – The biotech space has been on fire, and MYL has actually been lagging the sector, though still near all-time highs.  Actavis said it rejected a $15 billion offer from MYL, and MYL rallied 3% in the afternoon on that news.  The Jul 31 and 33 calls were most active, trading around 3k.