Too Many Options: $EEM, $SPY, $FB, $CSCO, $EXXI

by Enis October 11, 2013 4:29 am • Commentary

Options volumes were once again dominated by macro instruments.

  1. EEM – The Dec 41 calls traded over 200k times at an average price of $2.53, looks like closing based on open interest over 200k on that line.  Bulk of open interest initiated in July under $1.00
  2. SPY – Still very large put volume, almost 2.5m (vs. 1.5m 1 month average).  Oct18th 165 puts, Oct 18th 175 calls, and Oct11th 169 calls all traded more than 100k.
  3. FB – Call to put ratio near 2.5.  Most active lines were weekly 49 calls, weekly 50 calls, Oct18th 47 calls and Oct18th 50 calls, all trading more than 20k.
  4. CSCO – The Jan14 24 puts traded over 26k, looks like a seller to close at an average price of 1.91.  Most of open interest was bought below $1.00 in August.
  5. EXXI – The March 28 / 22 put spread trades 20k times for 1.70.  This is a $2.3 bln market cap energy name, and its low of the year is around $22.