Too Many Options – All Tech, $YHOO, $AAPL, $CSCO, $FB, $MU

by Enis May 23, 2013 5:07 pm • Commentary

Tech dominated in what turned out to be a flat day for the indices.

  1. YHOO – Buyer of 50k of the Jan14 30 calls, paying 1.14, possibly to close based on open interest, though not clear.  YHOO is up 30% on the year.
  2. AAPL – Call to put ratio around 1.35.  Once again, the most active line was the weekly 450 calls, trading around 45k.  That’s the line with the most open interest for tomorrow’s expiry.
  3. CSCO – Buyer of around 20k of the June 24 calls for avg. price close to 0.30 this morning.  Stock has consolidated since its major earnings move.
  4. FB – Stock closed again around important support at $25.  Call to put ratio up to 2.4, with the May31st 25.5 and 26 calls the most active.
  5. MU – Heavy call volume, and implied vol was higher, as it looked like the trader rolled 10k of the Oct 8 and 10k of the Oct 9 calls up into 20k of the Oct 13 calls, locking in profits.