Too Many Options: $MSFT, $CSCO, $FCX, $MU, $TSLA

by Enis August 8, 2013 9:44 pm • Commentary

Old Tech dominated single stock options volumes.

  1. MSFT – For the second straight day, there was huge call buying in MSFT (and for the second straight day, the stock was substantially higher).  Buyer of 150k of the Sept 35 calls for 0.14 this morning.  The large buying yesterday was in the Sept 32 and 33 call strikes.
  2. CSCO – Buyer of 23k x 46k of the Jan14 26/22 1×2 put spread for $0.84.  CSCO reports earnings on August 14th, and is approaching its 5 year high at $27.74.
  3. FCX – Stock rallied along with copper, breaking above its 100 day moving average for the first time since November.  The Aug16th 30 calls traded over 30k on the day.
  4. MU – Calls were active today, trading almost 150k in total.  The Aug16th 14 and 15 calls both traded nearly 20k on the day.
  5. TSLA – Call to put ratio only 1.2, which is a bit surprising for a stock that broke out to all-time highs.  Weekly 160 calls and weekly 150 puts were the most active lines.  Outside of August, the most active line was the Sept 130 puts, which traded around 6500 on the day.