Too Many Options: $SPY, $BAC, $AAPL, $MU, $TSLA

by Enis May 28, 2013 6:47 pm • Commentary

Single stock options were quiet for the most part.  One weekly line in the SPY was very active.

  1. SPY – The weekly 164 puts traded over 275k on the day, at an average price of $0.24.  There was a large chunk of buying in the morning, and another large chunk in the afternoon.  Open interest on the line was around 150k.
  2. AAPL – Call to put ratio was around 1.8 on the day, even though the stock ended lower.  The weekly 460 and 450 calls both traded over 25k on the day.
  3. BAC – The weekly 14 calls and the weekly 13 puts, both worth less than a nickel, traded more than 30k on the day.  The 13 level is the key technical area to watch.
  4. MU – Seller of 25k of the Jan15 15 calls at 1.36 to open.  Stock very close to its 5 year high around the 12 level.
  5. TSLA – Call to put ratio was at 1.8 today.  The most active line was the weekly 105 call, trading more than 14k.  Implied vol in July was up 6.5 points as realized volatility in TSLA remains around 100.