Friday’s Notable Options Activity: $EMC, $AMAT, $INTC, $GLNG, $GME

by Enis November 24, 2014 6:54 am • Commentary

The CBOE composite put/call ratio closed on Friday at 0.74, its lowest level since August 21st.  Single stock options activity was focused on the tech sector.

1.  EMC – The stock broke out above $30 last week, but failed to hold that breakout by Friday’s close, though it is still on the cusp at the moment.  Buyer of around 25k of the Dec20th 32 calls for 0.18 to open.  EMC has recently been targeted by activist Elliott to spin off its take in VMW.

2.  AMAT – Another bullish roll in AMAT, which has been a frequent theme in the options trading in the name.  Trader sold 25,000 of the Jan15 24 calls to close at 0.62 to buy 15,000 of the Apr 25 calls to open for 1.05.  AMAT remains below its high of the year of $23.46 from early July.

3.  INTC –  Buyer of 17k of the Nov 35.50 calls for .85 to close, vs. selling 17k of the Dec 38 calls at 0.19 to open, likely rolling an overwrite position in the stock as INTC hit a new 12 year high last week.

4.  GLNG – Golar is a shipping company focused on LNG tankers.  The stock is up 46% year-to-date.  Buyer of 4k x 8k of the Dec20th 55 / 60 1×2 call spreads for even money near the close.  GLNG reports earnings on Nov 26th before the open.  The stock traded from a September high of $74.44 to an October low of $42.52 before bouncing back a bit in the past month.

5.  GME – GameStop declined nearly 14% after a disappointing earnings report on Friday.  The Jan15 37/33 put spread traded 16k times at 1.30 in the morning.  The 52 week low is $33.10 from February.