Too Many Options – $INTC, $BAC, $CTIC

by Kristen January 2, 2014 5:21 pm • Commentary

Here were some of the larger option trades that caught our eye today:

1. YGE – Chinese solar stock, Yingli Green Energy Holding (YGE), had a big day with 57,570 options trading versus an average of 5,725.  Looks like someone was rolling up from the Jan18 5 calls to the Jan18 6 calls.  A 6000 lot traded selling 5’s buying 6’s and on the day over 10K traded on both lines.  9K of the Mar 6 calls traded as well, exceeding the open interest and looking like primarily buys.  Iv30 is up 11% to 93 and stock was up $1.23 to $6.28.  Yingli announced a joint venture with Shuozhou Coal Power Co to build solar power plants in China.

2. INTC – the Jan18 26 puts traded of 15K and the Jan18 25 puts 12K times amongst other active lines in a day that brought IV30 up 10%.

3. BAC – the Jan18 16 calls traded 18,872 times for $.41.  On the day the line traded over 67K times.  The May 16/18 call spread went up 16K times for $.68 and the lines traded over 24 K and 21K respectively on the day.  Open interest in the 16 calls was sufficient.   Feb was active as well with the 15 puts, 16 calls and 17 calls trading 22K, 24K and 21K respectively.  Stock was up $.53 to $16.10 besting last year’s high of $15.98 in November. 620K options traded on the day versus an average of 246K.

4. CTIC – Cell Therapeutics,  20,000 Jun21 1.5 puts traded for $.22 opening.  Iv30 is down 10%.  The Mar22 1.5 and 2 puts are the only other lines with significant open interest of 15k and 20k respectively.

5. SD – 10,000 Mar22 6 ATM calls and puts traded for $.48 each, possibly a straddle sale at $.96.