Too Many Options: $AAPL, $BBY, $SD, $XLF, $FB

by Enis August 5, 2013 4:27 pm • Commentary

Today was the lowest volume day of 2013 for SPY, including half days.  Options volume was also very low.

  1. AAPL – Stock hit a 5 month high today, approaching the 200 day moving average, now around 475.  Call to put ratio almost reached 2 today, a sign of potential excessive bullish sentiment.  Weekly 470, 475, and 465 calls were the most active lines.
  2. BBY – Large buyer of the Sept 32 calls, which traded over 30k at an average price of 1.61.  Same buyer was selling the Sept 36 calls, which traded close to half as many around 0.40 average price.
  3. SD – Stock moved above its 200 day ma for the first time since January.  30k of the Oct 7 calls traded at 0.11 to open, at the same time that the Oct 6 puts traded 20k times for 0.685, and the Oct 5 puts traded 10k at 0.19.
  4. XLF – Buyer of 30k of the Oct 20 puts for 0.35 to open.  The 50 day moving average in XLF is currently right around the 20 level.
  5. FB – Call to put ratio close to 3 to 1.  The Aug16th 40 calls, the weekly 39 and 40 calls, and the Dec 40 calls all traded more than 20k on the day.