Too Many Options: $BAC, $XLY, $YHOO, $F, $TSLA

by Enis July 16, 2013 5:28 pm • Commentary

Trading active in names with earnings and the big auto movers.

  1. BAC – Earnings tomorrow before the open.  14 is the big level, and the weekly 14 calls traded over 100k (more than 200k of open interest) at an average price of 0.1875.
  2. XLY – Buyer of almost 40k of the Sept 55 puts for around $0.41 to open.  The recent closing low on June 24th was 54.54.
  3. YHOO – Looks like a trader bought the Oct 29/31 1×2 call spread, around 12k x 24k to open for around even money.  Stock trading down 1% in the after-market after earnings.
  4. F – Stock was down 3% on a downgrade by Goldman.  The Jan14 17 call was the most active line, mostly seller initiated.
  5. TSLA – Stock was down 14% on a negative analyst note by Goldman.  Puts more active than calls.  The weekly 110, 105, and 120 puts all traded more than 12k.