Too Many Options: $GE, $CCE, $GOOG, $MS, $CAT

by Enis October 21, 2013 4:20 am • Commentary

CBOE composite put/call ratio hit its lowest level of 2013, closing at 0.68.

  1. GE – Oct 25 calls traded over 70k after GE rallied 3.5% on earnings, right through the $25 level, breaking out to its highest level since 2008.  The Dec 25/26 call spread traded 25k at 0.44 as well.
  2. CCE – Buyer of around 50k of the Jan14 45 calls for 0.525 to open.  CCE made a new all-time high last week, rising above its prior high from 1998.
  3. GOOG – Almost 10x normal options volumes as GOOG broke the $1000 level.  The vast majority of traded options expired on Friday.  Outside of Oct, the Nov 1020 calls were the most active, trading over 3500.
  4. MS – Buyer of 10k x 20k of the Jan14 29/25 1×2 put spread, paying $0.72 for the structure, possibly rolling up protection from the Jan14 25 put line.
  5. CAT – CAT closed right at the 200 day ma.  Seller of 10k of the Dec 90 calls at 1.55 to open.