Too Many Options: $VIX, $MU, $BBRY, $NOK, $GE

by Enis June 18, 2013 7:13 pm • Commentary

Tech dominated single stock options volumes today.

  1. VIX – Heavy June option volume ahead of VIX expiry tomorrow morning, with the June 17 call trading almost 100k.  VIX spot held up better than expected given the strength in the SPX because of the Fed event.
  2. MU – Option volume near the highs of the year in MU, as the simple fact that it keeps moving higher attracts more interest.  Large collar traded in Jan15, as someone sold the Jan15 15 calls to buy the Jan15 7 puts, more than 20k times, for a credit of around $1.86.
  3. BBRY – Weekly 15 calls traded over 30k, as the stock neared the 15 level for the first time in a month.  Stock reports earnings next Friday, June 28th.
  4. NOK – Heavy call volume after the FT reported that Huawei might be interested in buying NOK.  The weekly 4 calls and the Jul 4.5 calls both traded over 20k.
  5. GE – GE broke out to new 4 year highs, and the weekly 24 calls were the most active line, trading over 30k.