Your intraday options trading update.
High Options Volume by Strike
Bank of America (NYSE: BAC) tops the active strike list with its BAC May11 13 Call trading a little more than 61,000 contracts. It is down .05 with a last at .12. BAC is down .12 to $12.30, losing most of its gains since December.
The SPDR S&P 500 ETF (NYSE: SPY) is active with the SPY May11 130 Put down .27 to 1.79 on nearly 55,000 contracts.
Citigroup (NYSE: C) May11 4.5 calls are seeing 48,515 contracts as its trades up .o1 to .11.
AT&T (NYSE: T), T fer cryin’ out loud is in the top 10! Count the years. Stock is down .05 to 30.26, and the T Jun11 23 Call trades at .10 with 41,047 options. .10 is unch, why am I not surprised.
A stock seeing intriguing option volume is Qualcomm (NASDAQ: QCOM), according to Roy Briggs, on the advisory services side of Stutland Volatility Group. Briggs notes a 30,000 contract spread, 15K on each side, in the QCOM June 57.5 Calls and the QCOM June 45 Puts. The two sides of the trade went together but the stock isn’t seeing much action today, up .15 to $53.45, notes Briggs.
Briggs says morning option trading generally low key though traders on edge during earnings season, with eyes open for surprises. “We are seeing some volatility bidding in the names that will report earnings,” said Briggs. He points out that the May expiration cycle is a little unusual as it lasts for five weeks, beginning yesterday and running until Friday May 20, unlike typical four week run.
Major Stock Trading Volume Movers
Blackboard Inc. (NASDAQ: BBBB) has stock volume of more than 5 million, up 800%, as the stock rises 11.83 to 48.99. The educational software provider said in a press release it has hired Barclays Capital in response to unsolicited proposals (that’s plural) to acquire the company.
Chinese video company KU6 Media (NASDAQ: KUTV) sees its shares rise .91 to 5.64 on volume of 1.7 million, a rise of 315%. No news today but Shanda Interactive (NASDAQ: SNDA) two weeks ago said it would invest $100 million in KUTV.
Shanda seeing some stock volume, trading 671,000 shares, up 240%, as the stock rises 2.09 to 53.54. SNDA, a Chinese Internet media company, announced yesterday it might offer its Cloudary division in an IPO.
Find more option analysis and trading ideas at Options Trading Strategies.
Stocks/Underlying – Big Daily Change in Option Volume
E-Commerce China Dangdang (NYSE: DANG) sees option volume if 19,080, a rise of 5,537%. DANG is up 2.27 to 23.21. Benzinga reports a number of Chinese Internet stocks are moving today.
The KBW Bank Index (NYSE: BKX) is up .08 to 50.55 and 7050 options trade, a rise of nearly 1,400%. OptionMonster reports BKX has hit four-month lows and call sellers are cashing in.
Shanda Interactive (NASDAQ: SNDA) returns to our list for the third time!, sees 5,522 options trade, a rise of 629%, as the stock jumps 2.09.
Stocks – High Put/Call Ratio
Negative indicators touches the iShares MSCI Hong Kong Index Fund (NYSE: EWH), rising to 349.95, as the ETF rises incrementally to 19.40.
Capstead Mortgage (NYSE: CMO) has a P/C ratio of 114 today as stock drops .04 to 12.86. Reports of a 1,100 option contract trade in the CMO May 11 12.50 Puts, on the offer. Capstead is a REIT.
Put sellers again haunting O’Reilly Automotive (NASDAQ: ORLY), says optionMONSTER, and its P/C ratio is at 91.23. Yesterday, 4,500 ORLY May 55 Puts traded, the third such trade since February, according to the DrJ.’s guys.
Stocks/Underlying – High Option Volume
SPDR S&P 500 ETF (NYSE: SPY) sees option volume of 782,000 as the index rises .56 to 131.12. The CBOE Volatility Index (CBOE: VIX) is truly volatile, down 1.21 to 15.75, and options on the Fear Gauge trade 308,839 contracts.
Bank of America (NYSE: BAC) see 290,869 contracts traded, followed on the equity side by Intel (NASDAQ: INTC) with 171,660 options trade. INTC to report first quarter numbers after the close.
Apple (NASDAQ: AAPL) sees 152,370 options trade, as the stock rallies 3.08 to 334.93.
Burney Simpson is the managing editor of InvestorPlace options pages.
