Relatively light options volume for an expiration Friday, though most of the volume was concentrated in expiring strikes, as options traders cleaned up their positions. After two straight 1% moves, SPX 10 day realized volatility is now around 11, its highest level since late April.
1. AAPL – AAPL reports earnings after the close tomorrow. The stock has traded in the $90-97 range for the past 6 weeks. Weekly options were active on Friday, but outside of the weekly options, the Jul25th 95 calls and the Aug16th 100 calls were the most traded lines. AAPL’s 50 day moving average is around $90.75, while its all-time high from September 2012 is $100.72.
2. FB – Similar to AAPL, most of the trading was in weekly options. However, the Aug 70 and 67.5 calls were relatively active as well, as FB touched its highest level since late March. Dan laid out a potential FB structure ahead of Wednesday afternoon’s earnings report – details in Friday’s NTT post.
3. NQ – NQ touched its lowest level in its history on Friday after the company broke ties with its auditor. However, the stock closed higher on the session, and there was a buyer of over 35k of the Dec 12 calls for an average price of 0.46 throughout the day. NQ last traded above $12 in May.
4. NI – The Aug 41 calls were very active on the session, trading over 18k at an average price of 0.34. The utility company is up 19% year-to-date, and its all-time high of $39.69 was set in June. The company reports earnings before the open on July 31.
5. EWZ – EWZ hit its highest level since late October, rising above the $50 resistance level on its highest volume since mid-April. The Dec 55 calls were the most active line, trading nearly 20k on the session at an average price of 1.91. EWZ last traded above $55 in May 2013.