Too Many Options: $INTC, $XLU, $FXI, $SUNE, $AA

by Enis October 23, 2013 4:26 am • Commentary

The CBOE composite put/call ratio remained quite low for the 3rd straight day, with calls dominating the single stock options volume.

  1. INTC – The Nov8th 23.5 puts traded over 50k at an average price of $0.23 throughout the day.  INTC has remained above $24 this week, which is its 3 month high.
  2. XLU – Buyer of around 40k of the Nov 39 calls for about 0.33 early in the morning, vs. selling about 30k of the Nov 38 calls at 0.91 – looks like trader rolling long calls up.
  3. FXI – Buyer of 25k of the Dec 40 calls for around 0.52 in the morning. FXI has not traded above $40 since February.
  4. SUNE – Solar names continue to see a major bid. Trader sold 10k of the Jan14 9 calls around 1.66 to close, and bought 30k of the Jan14 12 calls for 0.58, rolling up too.
  5. AA – Stock broke out to a new 1 year high on huge volume.  Volume picked up in the afternoon on the break of $9.  Calls traded almost 10x normal volume, with the Dec 10 calls the most active line.