Too Many Options: $AAPL, $MSFT, $ABX, $INTC, $NVDA

by Enis August 15, 2013 6:17 pm • Commentary

CBOE total put/call ratio rose to 0.96 from 0.80 yesterday, but it remained below 1 despite today’s weakness (has not been at or above 1 since July 26th).

  1. AAPL – Call to put ratio dropped a bit below 2 today, to around 1.85.  The weekly 500 calls were the most active line, trading over 65k, and have by far the most open interest ahead of expiry tomorrow, implying a decent chance of a pin at 500.
  2. MSFT – The Jan14 28/34 risk reversal trade 20k times in the afternoon for 0.34.  The Sept 35 calls were also active again, trading over 20k.
  3. ABX – Gold miners surged as gold rallied above the important $1350 resistance level.  ABX Sept 18 puts traded 18k at an average price of 0.70, paired with 10k of the Sept 20 calls at 0.81.
  4. INTC – Stock was downgraded today, and hit a 3 month low, moving below its 200 day moving average.  Aug23rd 22 puts were the most active line, trading almost 25k.
  5. NVDA – Large buying of the Sept6th expiry 16 calls, which traded over 15k at an average price of around 0.15.  Stock traded near a 2 year high today.
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