Too Many Options: $XLF, $EFA, $FB, $TSLA, $ONXX

by Enis August 26, 2013 4:58 pm • Commentary

On a very low volume day until the last hour of trading, a few trades stood out.

  1. XLF – Seller of around 70k of the Sept 30 puts to close at 0.32 and 0.31 in the morning.  XLF closed the day as one of the weak performers, down 0.6% by the close.
  2. EFA – Buyer of 33k of the Sept 58 puts for 0.22 near the European close.  The Oct 59 / 56 put spread also traded around 32k for 0.40
  3. FB – Call to put ratio over 3 today.  The weekly 42, Sept 42, and Sept 41 calls were the most active lines.  The Jan14 50 calls also traded over 20k.
  4. TSLA – Huge reversal intraday, though it still closed up 1.5%.  The weekly 160 puts were actually the most active line, trading almost 20k as implied vol exploded on today’s intraday move.
  5. ONXX – The Oct 120 / 125 call spread traded 12,500 times to open for 4.70.  Options are pricing in very little probability of a higher bid at this point, so the Oct 120 calls were only worth a dime.