Too Many Options: $CSCO, $AAPL, $XLU, $WFC, $JNJ

by Enis August 14, 2013 6:02 pm • Commentary

CSCO and AAPL dominated option volumes today, with a few other large prints farther out.

  1. CSCO – Call to put ratio was around 2.3 to 1, with the weekly 28, 27, and 26 calls the most traded lines today.  Stock is down around 10% after hours after weak revenue guidance.
  2. AAPL – Call to put ratio above 2 once again, with the weekly 500, 505, and 510 calls the most active lies on the day.  My thoughts on AAPL today were in my CotD post.
  3. XLU – Large volume in the Dec 38 puts for the second straight day.  100k of that strike traded at 1.51 to open around noon.
  4. WFC – Seller of almost 30k of the Oct 45 calls to open, likely an overwrite, for around 0.64 this morning.  $44.785 is the high for the year (and the all-time high) in WFC.
  5. JNJ – Big move for JNJ today, down more than 2%.  Looks like a seller this morning of around 17k of the Oct 95 calls at around 0.87, likely an overwrite.