Facebook (FB) adds 47 cents to $21.48 and more than 21,000 FB Weekly 22 calls have changed hands today at a VWAP of 6 cents per contract. Sentiment data indicate that some of the early trades were opening buyers. If so, a nickel was being paid. The market is now 0 to 5 cents. FB shares are up today after a filing showed a director buying 1 million worth of stock on 8/8. Director Reed Hastings is also NFLX CEO. Still, the Weekly 22 call is 1.9 percent out-of-the-money and expiring after today. Open interest in the contract is 24,435 and the largest in the Weekly 8/10 contracts on Facebook.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.