As has been the theme this week, very mixed priced action under the surface, as big moves for certain individual stocks in both directions, while the S&P 500 ended near unchanged.
1. C – More than 3x average options volume as C ended the day down 5.4% after the Fed rejected its dividend increase request. It was the largest volume day for C since late 2012. The Apr19th 52.5 calls traded over 70k at an average price of 0.107. C reports earnings on April 14th.
2. FB – FB bounced intraday after touching its 100 day moving average near $58. FB has not breached its 100 day ma since its massive gap higher on earnings in late July. The Apr19th 62.5 calls were the most active line, trading over 50k at an average price of 1.58. Largest print was a seller of 15k at 1.28 in the morning, probably an overwrite against a long.
3. S – The May 10/11/12 call butterfly traded 20k x 40k x 20k for 0.12 in the morning. Break-even range on that fly is 10.12 to 11.88 on May expiry. Sprint’s intraday high from December is $11.47. S closed 2013 at 10.75.
4. T – Stock has been on a tear in March, trading up to $35, which is near its closing level of $35.16 on Dec 31st, 2013. In the morning, buyer of 30k of the July 34 puts for 1.157 average price. The $32 level is big long-term support for T.
5. PBR – Calls traded over 3x the daily volume, as PBR hit its highest level since early January on huge volume (its highest in one year). Next resistance is the 200 day ma near $14. The Apr19th 12 calls were the most active line, with mostly buyers initiating. The Jul 14 calls and the Jan15 15 calls were also active.
6. CNQ – Buyer of 25k of the September 39 calls for 1.80 to open. CNQ has not traded above $39 since February 2012. Stock hit a 2 year high yesterday.