Too Many Options – $AAPL, $ABX, $BAC, $CSCO

by Enis May 15, 2013 8:07 pm • Commentary

A few names dominated option volumes.

  1. AAPL – Stock broke through its 50 day ma on its largest volume day in the stock since April 26th.  The call to put ratio was down to 1.1, near the lows of the past month.  The weekly 425 and 430 puts were the most active, trading around 45k each.
  2. ABX – Buyer of 15k of the Jan15 25 calls for 2.31, 33k of the Jan15 35 calls for 0.98, and then also a buyer of 10k of the Jan15 25 / 35 call spread for 1.35.  ABX was down 5% with the gold miners weak overall.
  3. BAC – The weekly 13 calls traded almost 60k, the most active single stock options line today.  BAC is trading at its highest level since March 2011.
  4. CSCO – The weekly 20 and 21 puts both traded over 30k, but the 6 next most active lines were all calls.  The June 22 calls traded around 21k, the most of any non-weekly line.  Stock is up 8% after hours.
  5. GDX – The June 27 puts traded 55k at an average price of 1.05.  Likely closing, as bulk of the open interest was opened last week.