Your intraday options trading update.
High Options Volume by Strike
SPDR S&P 500 ETF (NYSE: SPY) with two strikes – the SPY Apr11 132 Put and the SPY Apr 11 131 Put — in the top 10 as we grind down to expiration. The 132 has volume of 143,828, and the 131 sees 88,844.
Microsoft (NASDAQ: MSFT) Jul 11 27 Call trades 127,000 contracts and is down .12 to .43 last; meanwhile the MSFT Oct11 26 Call sees 86KPlus trades and is down .18 to 1.26. Gartner, IDC reporting that first quarter PC sales down due to tablet sales, earthquakes, the economy, etc.
The iShares MSCI Emerging Markets ETF (NYSE: EEM) seeing large option volume with its EEM Jun11 47 Puts, Jun 11 42 Puts, Apr11 50 Calls all topping 50,000 contracts.
“Investors are looking overseas for opportunities. The Fed yesterday noted the slow pace of the recovery and Goldman Sachs announced this week that oil and other commodities are priced too high,” said Ron Ianieri, chief market strategist with ION Options.com. Ianieri says there are indicators of a double dip recession in the U.S.
Major Stock Trading Volume Movers
CDC Corp. (NASDAQ: CHINA) is up nearly 34% to 3.20 on 5.7 million shares. It announced it will invest in a high-tech food processing park. Yesterday it announced an investment in a private equity fund had produced significant returns. You cannot stop the people’s revolution.
Vera Bradley (NASDAQ: VRA) dropped .64 to 44.55 after announcing a secondary public offering of 5 million shares would go at 43.50 per share.
“Social knowledge” site Answers Corp. (NASDAQ: ANSW) up .08 to 10.49 on 1.8 million shares as its purchase is officially completed by AFCV Holdings, a subset of Summit partners. Price was $10.50 a share. ANSW ceases trading after close today.
Find more option analysis and trading ideas at Options Trading Strategies.
Stocks/Underlying – Big Daily Change in Option Volume
Live Nation Entertainment (NYSE: LYV) has options trading of 5,041, an 1800% rise. Stock is down negligible to 9.83. OptionMonster says a “dead-money” trade with 2,000 LYV October 10 Puts and equal number LYV October 10 Calls traded with investor believing stock will remain under $10 until Oct expiration. Dead-money? Dude, that was the name of the last Stones record.
Constellation Energy (NYSE: CEG) gets 10,349 options contracts traded, a rise of nearly 1,500%. CEG is up .22 to 33.25
Stocks – High Put/Call Ratio
Leader here is Liberty Media (NASDAQ: LINTA) with a P/C ratio of 353.13, as stock drops .14 to 16.45. Emulex Corp. (NYSE: ELX) records P/C ratio today of 182.7 as stock drops .07 to 9.83, below recent resistance level. Emulex products connect servers and networks. .
Regional bank fund SPDR KBW Bank (NYSE: KBE) like yesterday hits top 10 of high P/C ratio underlyings with a 26.94 number as it falls .25 to 25.45.
Stocks/Underlying – High Option Volume
SPDR S&P 500 ETF (NYSE: SPY) sees option volume of 1.07 million, followed by options trading on the S&P 500 Index Options (CBOE: SPX), down 1.06 to 1313.35 with volume this morning of 400,358. PowerShares QQQ Trust (NASDAQ: QQQ) is down .23 to 56.63 as 194,854 options trade. CBOE Volatility Index (CBOE: VIX) is down .37 to 16.55 with options trading on the index of 167,384.
Burney Simpson is the managing editor of InvestorPlace options pages.