Too Many Options: $FB, $MSFT, $EWJ, $AAPL, $TLM

by Enis July 19, 2013 5:01 pm • Commentary

Quiet overall volume, but tech was somewhat active.

  1. FB – 85k of the Jan15 22/32 risk reversal traded.  Customer bought 4m shares, bought the Jan15 22 puts and sold the Jan15 32 calls, and collected 0.32 on the package.  Stock reports after the close on July 24th.
  2. MSFT – Largest single down day in percentage terms since 2009.  Huge option volume too (almost 10x 1 month average).  Call to put ratio was 1.4.  The August 32 calls were the most active line, trading around 45k at an average price of 0.56 (only 6k of open interest).
  3. AAPL – Almost all expiry related activity, with the 425 puts the most active.  The stock eventually pinned the 425 strike.
  4. EWJ – Over 80k of the August 11 puts trade, mostly a large buyer in the afternoon paying 0.09 for around 60k in one chunk.
  5. TLM – The Oct 13 calls traded almost 20k on the day, looks like selling to close at an average price of 0.385.  The BMO analyst speculated about a possible sale in a note today.