Too Many Options: $ATVI, $HPQ, $PFE, $FB, $NOV

by Enis July 29, 2013 8:22 pm • Commentary

Continuing the trend of very low volumes on Mondays for the past 3 weeks.

  1. ATVI – Trader rolled the Sept 17 calls up to the Sept 19 calls, selling the call spread 55k times at 0.96.  Trader had originally bought the Sept 17 calls for below 0.40 2 weeks ago.  Stock at 5 year highs after buyout news on Friday.
  2. HPQ – Buyer throughout the day of the Sept 25 puts, which traded over 30k at an average price of 1.23.  Possibly same trader was selling the Sept 27 calls, which traded over 22k at an average price of 0.94.  HPQ reports in late August.
  3. PFE – Earnings are tomorrow morning.  The weekly 29.5 and weekly 30 calls each traded over 25k.  The high of the year for PFE is $31.15.
  4. FB – Stock rallied above $35 on decent volume again.  Call buyers were in force, with the weekly 35 calls, the Sept 35 calls, and the weekly 34.5 calls all trading more than 15k.
  5. NOV – The Aug 72.5 puts traded 10k at 2.95 and the Aug 75 calls traded 15k at 0.52 as one package, looks like put seller, call buyer.  Stock reports earnings tomorrow morning.