WhatsTrading.com Options Recap — 11/08/2012

| November 8, 2012 | 0 Comments More


Technicals have obviously deteriorated and, through midday Thursday, decliners are leading advancers nearly two-to-one on the Big Board and more than two-to-one on the NASDAQ. Sentiment has turned sour and I even heard one trader refer to America’s tech darling as CR-AAPL, which is down another 3 percent and near session lows. The number of stocks setting new 52-week highs has dwindled to 32, from 142 two days ago. New 52-week lows number 131, from 47 prior to the election. Yet, some of the commodities are seeing strength. Crude oil is up 70 cents to $85.14 and gold added $15.5 to $1729.5. The only economic stat of the day was jobless claims, which dropped to a better-than-expected 355K (vs. 370K consensus) last week. The report failed to lift the market from the bearish funk. The Dow is down another 70 points and the NASDAQ dropped 30.

Overall option volumes are lighter than Wednesday, but continue to reflect the cautious underlying tone. With a little over an hour to trade, projected volume is 17 million contracts. 6.8 million calls and 7.1 million puts so far. iShares Emerging Markets Fund (EEM) Nov 40.5 puts are the day’s most actives. 131,000 traded. EEM dropped 50 cents to $40.95 amid volatility across global equity markets Thursday. The biggest trade today, which is also the largest block of options traded in almost two weeks, was a 96000-lot of Jan 15 puts on SPDR Financials (XLF). Shares are down 4 cents to $15.57 after the 3.3 percent swoon suffered yesterday. JC Penney (JCP) sees active trading ahead of its profit report and Qualcomm (QCOM) saw a flurry of action post-earnings. Meanwhile, CBOE Volatility Index (.VIX) is down 4.35 percent to 18.24 after spiking to multi-month highs of 19.08 yesterday.

Notable Flow
MJN – Bearish activity detected in Mead Johnson Nutrition Company with 7498 puts trading, or 6x the recent avg daily put volume in the name. Shares near $65.87 (-0.37) with ATMIV lifting by 1.24 point and 61% of todays put premium trading offer side. (Trade-Alert)

NE – Bullish flow detected in Noble Corp with 5702 calls trading, or 2x the recent avg daily call volume in the name. Shares near $35.45 (-0.71) with ATMIV lifting by 1.23 point and 62% of todays call premium trading offer side. (Trade-Alert) 12:41
INFI – Bullish flow detected in Infinity Pharmaceuticals Inc with 3161 calls trading, or 2x the recent avg daily call volume in the name. Shares near $17.75 (-0.04) with ATMIV lifting by 1.00 point and 97% of todays call premium trading offer side. (Trade-Alert) 12:21

High options volume is being seen in QCOM, .NDX, JCP, PXD, VZ, USB, MCD, STX, BBY, GILD

Movers

Symbol Last Change %Change StdDevs
DUSA 7.95 +2.17 +37.5% 9.37 Post-Earnings
PGNX 2.02 -0.68 -25.2% 5.47 Post-Earnings
PSTI 2.85 -0.84 -22.8% 7.59 Post-Earnings
FALC 2.45 +0.44 +21.9% 7.34 Post-Earnings
RST 12.80 +2.24 +21.2% 8.09 Post-Earnings

PFSW 2.49 -0.62 -19.9% 6.91 Post-Earnings
ENPH 2.65 -0.63 -19.3% 4.14 Post-Earnings
ARX 6.79 +1.08 +18.9% 4.38 Post-Earnings
ITMN 9.70 +1.54 +18.9% 3.12 Post-Earnings
PANL 23.16 -5.02 -17.8% 4.60 Post-Earnings

Shakers (Implied volatility Movers)

Symbol IV[30d] IVChg IVChg% SkewAdjChg Last Change
MAKO 62.7% -66.5 -51.4% -64.9 $14.29 -0.47 Post-Earnings
EZCH 43.8% -41.2 -48.5% -32.4 $35.39 +5.03 Post-Earnings
KLIC 40.1% -26.3 -39.6% -25.8 $10.24 -0.52 Post-Earnings
WFM 27.3% -16.2 -37.3% -16.8 $91.06 -4.87 Post-Earnings
IGT 62.4% +16.4 +35.7% +16.2 $12.62 -0.27 Pre-Earnings

DDS 31.3% -16.1 -34.0% -14.5 $84.69 +3.88 Post-Earnings
QCOM 24.6% -12.3 -33.4% -9.9 $60.61 +2.49 Post-Earnings
MNST 49.7% -24.8 -33.3% -24.2 $44.56 -0.41 Post-Earnings
DF 41.9% -17.4 -29.3% -16.1 $16.60 +0.52 Post-Earnings
PANL 58.0% -23.9 -29.2% -27.2 $23.16 -5.02 Post-Earnings

52-Week Highs
32 new highs: AFCE AMCX AUY BIOS BIV BOND CNK CONN CSU CZZ DDS DUSA EHTH EXR FBC FNGN GILT GLDD HLSS HOV HYD IMH IPAR LAMR LORL LPL PZA SNTS SSS STAG TIP WRLS

52-week Lows
131 new lows: .SRO ACW ADES AES AMD AMRC AMSC ANGO AONEQ ARC ARCO AT ATSG AVAV AVEO AVP B BCRX BEBE BERY BGCP BIRT BLOX BPAX BUSE CBR CEDC CERP CHH CIG CLB CLMS CMLP CMTL CORT CPHD CPSL CROX CTCT CTIC CZR DVN DVR EBR EBR/B ELOS ENDP ENPH EOX ESIO FSYS FTE GAIA GDP GES GIFI GLF GLPW GSVC GTS HZNP INOD INTC IQNT IRBT JO KWK LLNW LOGI MCD MCP MDLZ MNST MTDR MVO NLST NSC NTLS NVTL NYX OCLR OSUR OXF PANL PBI PBW PEGA PGNX PMFG PNX PTIE PWE RATE RBCN RELL REN SB SBLK SEP SFY SGG SGY SGYP SHZ SKUL SNE SNMX SONS SREV STRA SYPR SZYM TAN TEA TFSL THM TLAB TNK TRGT TROX TSL TYO URA USEG VNDA VOC VTUS WCG WFT WIN ZAZA

Top Equity Blocks
5.00m NOK 2.62 -0.03 -0.9% FINRA-ADF 10:32:52 – Average Price Trade
2.10m VWO 41.27 -0.40 -1.0% FINRA-ADF 14:00:27 – Burst
1.66m GLW 11.58 +0.07 +0.6% FINRA-ADF 09:57:13
1.66m SNE 11.10 -0.17 -1.5% FINRA-ADF 10:25:43 – Average Price Trade
1.50m SPY 139.73 -0.13 -0.1% FINRA-ADF 10:31:09 – Average Price Trade
1.34m FXI 36.54 -0.74 -2.0% FINRA-ADF 13:02:31 – Burst
1.30m EWT 12.76 +0.05 +0.4% FINRA-ADF 10:11:49 – Burst
1.15m EEM 41.44 -0.00 -0.0% FINRA-ADF 10:08:50 – Burst
1.11m MDF 11.14 FINRA-ADF 11:54:53
1.00m S 5.63 +0.01 +0.2% FINRA-ADF 14:26:38

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Category: Market Update

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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.

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