Too Many Options: $XLF, $INTC, $YHOO, $OXY, $OPK

by Enis September 16, 2013 5:49 am • Commentary

Calls continue to dominate the volumes, with Friday no different.

  1. XLF – Buyer of over 100k of the Oct 21 calls for around 0.10 in the afternoon.  XLF’s high in 2013 is 20.93.
  2. INTC – The Oct 22/20 put spread traded 50k at 0.18, likely to close.  INTC broke above its 50 day moving average on big volume following an upgrade to buy at Jefferies.
  3. YHOO – Stock continues to find resistance around $30.  There was a morning buyer more than 10k of the Oct 30 calls for 0.91 early in the morning.  The Alibaba IPO resolution is the main news item to watch over the next month.
  4. OXY – Mostly selling the of the Sept 90 calls, likely to close, after OXY initially popped then sold off on news of its stake sale in its Mideast unit.  They traded over 14k on the day.  Meanwhile, the Oct 95 calls were buyer initiated, trading over 14k on the day as well, and implied vol on that strike jumping 2.5 points.
  5. OPK – Seller of 10k of the Jan15 10 calls at 1.45, likely to close.  The calls were bought earlier this month at prices between 1.50 and 2.