Too Many Options – $CSCO, $YHOO, $EMC

by Enis May 16, 2013 7:38 pm • Commentary

Tech dominated volumes today, with CSCO leading the way after a big beat.

  1. CSCO – May calls dominated volumes, with the weekly 24 strike call the most active single stock option in the market today, average price of $0.15.  CSCO traded at its highest point since 2010.
  2. YHOO – Very active call volumes.  The Oct 29 and Jan14 30 calls both traded 30k times, both initiated in early March at 0.35 and 0.40 respectively.
  3. EMC – Weekly 24 calls traded over 50k as CSCO’s strength led to a bid in the whole enterprise sector.
  4. GRPN – Weekly 7 calls traded over 22k at an average price of 0.25, though GRPN still closed below 7 and was unable to fill its August gap at 7.55 for the second straight day.
  5. MU – Someone rolled their calls from the Oct 12 line to the Oct 13 line.  16k of the Oct 12 calls traded at 0.88, and 25k of the Oct 13 calls traded at 0.57, likely a premium neutral roll.  MU made a new 2 year high.