Earnings related issues dominated volume again.
- QCOM – Large buyer of the Sept 67.5 calls to open, paying 0.43 for 43k, vs. selling 774,000 shares at $61.95, likely stock replacement ahead of earnings. Stock up 4% after hours.
- NOK – Seller of 50k of the Jan15 5 calls at 0.53 to open. Stock has not traded above $5 since early 2012.
- EWZ – Buyer of almost 50k of the Aug 42 puts for 0.455 to open, executed in the last half hour of the day. EWZ’s low this year was at $40.68 on July 5th.
- F – Call to put ratio near 6 to 1 on the day, as call volume exceeded 200k. The Sept 17 and Nov 18 calls were the most active lines. Stock was up 2.5% after earnings.
- JNJ – Buyer of 8k x 16k of the Aug 87.5 / 82.5 1×2 Put Spread, paying 0.05 for the trade. JNJ’s June low was $82.12.