WhatsTrading.com Options Recap — 01/23/2013

| January 23, 2013 | 0 Comments More



Stock market averages are holding gains with help from big earnings movers. Overseas action was mixed and trading is lackluster in the commodities market. Crude oil is down $1.29 to $95.39 and gold shed $7.2 to $1686. It was a light news day on the economic front and headlines that the House voted in favor of pushing back the debt ceiling deadline to May 19 was met with a collective shrug from investors. The focus is on earnings. IBM is up 5 percent and giving the price-weighted Dow Jones Industrial Average a lift. The NASDAQ is being helped higher by post-earnings gains in Google (GOOG). Yet, the S&P 500 is up only 3.35 points to 1490.5, as 280 S&P 500 stocks are higher and 205 are heading lower. Still, the Dow has tacked on 80 points. With 45 minutes left to trade, the NASDAQ is up 13.4 points ahead of earnings from Apple (AAPL).

On the options front, trading is running about the typical levels and projected to total 15.2 million contracts. About 7 million calls and 6.2 million puts traded across the exchanges so far. A number of earnings-related names, like IBM, Netflix (NFLX), and Google , are seeing higher volumes. There’s been interest in Feb 30 and Mar 31 calls on SPDR Tech Fund (XLK), possibly a play on Apple’s earnings. SPDR Oil and Production Fund (XOP) is seeing higher volumes due to a large spread trade, that apparently was a position adjustment in the March puts. The biggest trade of the day is a buyer of 80,000 March 44 puts on the iShares Emerging Markets Fund (EEM). Yet, while we’re seeing some bearish positioning in a few of the ETFs, CBOE Volatility Index (.VIX) is flat at 12.42 and there’s very little portfolio hedging happening in the options market today. After the Jan expiration last week, open interest in S&P 500 Index (.SPX) options fell to lowest levels since 2008!

Notable Flow

SWKS – Bullish flow detected in Skyworks Solutions Inc with 20750 calls trading, or 5x the recent avg daily call volume in the name. Shares near $21.7 (0.94) with ATMIV lifting by 1.59 point and 65% of todays call premium trading offer side. (Trade-Alert) 14:41

XRX – Bearish activity detected in Xerox Corp with 5378 puts trading, or 5x the recent avg daily put volume in the name. Shares near $7.56 (0.03) with ATMIV lifting by 1.42 point and 50% of todays put premium trading offer side. ANUR (Trade-Alert) 13:51
PERI – Bullish flow detected in Perion Network Ltd with 2402 calls trading, or 8x the recent avg daily call volume in the name. Shares near $10.61 (-1.16) with ATMIV lifting by 2.15 point and 55% of todays call premium trading offer side. (Trade-Alert) 12:41

High options volume is being seen in GOOG, IBM, NFLX, XLK, ORLY, PPG, SNDK, COH, MCP, XOP

Daily Open Interest Update

Tuesday’s total option volume of 16.8 million contracts resulted in net open interest growth of 4.11 million calls and 3.46 million puts. Bank of America Corporation (BAC), Apple Inc (AAPL), Facebook Inc (FB) and Dell Inc (DELL) saw the greatest growth. Top five new positions opened include 31k General Motors Company (GM) Mar-13 30 calls, 25k Peregrine Pharmaceuticals Inc (PPHM) Jul-13 5 calls, 25k Peregrine Pharmaceuticals Inc (PPHM) Jul-13 2.5 calls, 24k Chesapeake Energy Corp (CHK) Mar-13 18 puts and 23k Williams Companies Inc (WMB) Jan-15 50 calls. (Trade-Alert)
Movers

Symbol Last Change %Change StdDevs
MAPP 24.71 +9.13 +58.6% 43.49
STRI 2.32 -0.78 -25.2% 6.53
CREE 40.77 +7.30 +21.8% 9.43 Post-Earnings
THLD 5.05 +0.74 +17.1% 4.05
DQ 14.90 +2.10 +16.4% 2.12
SMCI 12.22 +1.70 +16.2% 7.35 Post-Earnings
COH 51.13 -9.55 -15.7% 7.57 Post-Earnings
IAG 9.38 -1.49 -13.7% 6.79
KERX 3.79 +0.43 +12.8% 3.11
EZPW 23.17 +2.49 +12.0% 11.02 Post-Earnings

Shakers (Implied volatility Movers)

Symbol IV[30d] IVChg IVChg% SkewAdjChg Last Change
HYG 5.5% +1.6 +41.5% N/A $94.68 -0.10
GOOG 16.9% -11.0 -39.5% -9.2 $746.43 +43.56 Post-Earnings
IBM 12.6% -7.9 -38.5% -7.2 $205.83 +9.75 Post-Earnings
RKT 19.0% -11.4 -37.6% -9.5 $80.28 +6.22 Post-Earnings
ISRG 23.4% -12.5 -34.8% -8.9 $567.77 +49.28 Post-Earnings

SYMC 27.2% -14.4 -34.7% -13.5 $21.48 +0.62 Pre-Earnings
MSI 15.8% -7.6 -32.4% -7.5 $58.32 +0.03 Post-Earnings
IGT 24.9% -11.4 -31.4% -11.5 $15.00 -0.22 Post-Earnings
CREE 30.3% -13.4 -30.6% -13.3 $40.77 +7.30 Post-Earnings
EXC 20.8% +4.8 +30.2% +4.2 $30.00 -0.45

52-Week Highs
427 new highs: .BSZ .DJX .HGX .SPX .SPXPM .SRO .VSTRP .XSP ABBV ABC ABCO ABV ACGL AEGR AEIS AEL AFG AFSI AGII AGN AGU AHT AIRM ALE ALNY ALTE AMG AMJ AOS ARG ARTC ASH ATK ATW AWR BC BDC BECN BERY BG BKD BKMU BKW BLK BLMN BMO BMRN BMS BRFS BRK/B BRS BSET BSX BX CAH CAM CAP CBI CCI CECE CHE CI CLDT CLNY CLX CM CMC CMN COV CP CPRT CPWR CREE CSIQ CSL CSV CUTR CUZ CVD CVH CVLT CVS CYOU CYT DDD DDM DDR DE DIA DIS DKL DO DPZ DRN DRQ DST DTN DXPE EFC EGAN EMR EPD EPL EPP EQIX ESE EV EVR EWA EWW EXAR EXR FAS FBHS FBR FCE/A FDN FDUS FEIC FFIN FIS FIW FLO FMX FNGN FR FRC FXZ GASS GCI GHL GLP GMT GPI GPK GRA GSH GWR HAE HBIO HCC HD HELE HEP HLX HNZ HR HRB HSIC HTCH HTGC HUN HW ICGE ICON IHF IJH IJK IJT ININ INTU IOSP IP ITB ITT ITW IVE IVV IWB IWC IWF IWM IWO IWP IWR IWV IYF IYG IYH IYJ IYT JAH JBHT JBLU JKHY JLL JNS JOE KBE KBH KCAP KCE KEY KKD KKR KMR KOF KOP KR KS KSU L LAD LCC LEG LEN LIFE LII LLTC LMT LOW MAPP MCK MCO MDAS MDCO MDY MFA MGC MGV MHK MHLD MIC MIDD MINI MLHR MLPN MMM MON MOO MPC MPEL MR MRH MSA MSG MTD MTH MTSC MTW MTX MTZ MVV MWA MXIM NCR NCT NDSN NEU NHI NLS NPBC NRF NVO NVS NWL OAS OC OCR ODFL OFC OHI OII OPK ORCL ORI OTTR PAA PACW PAG PBJ PCEF PCH PCL PDM PDP PFG PHG PHM PII PJC PKI PLD PNR PODD POST PPG PRE PRXL PSX PTP QGEN QUAD RAH RCI RCL RDN RF RIMM RJET RKT RLGY RLJ RMD ROK ROL ROP RPRX RSE RSP RSU RWL RYL RYN SAA SAH SAM SBNY SCCO SCHA SCHB SCHD SCHG SCHW SCHX SCI SDLP SDY SEAC SEIC SGEN SGMO SHAW SHW SKT SLH SNTA SPF SPXL SPY SRC SRDX SSO STC STKL STR SUSQ SVXY SWM SXL SYK SYMC SYRG TDY TECUA TEL TFX TGH TGI TMK TMO TNA TOL TRAK TRGP TRI TRN TRW TSN TTEK TUP TWO TWX TYL TYPE UDOW UGI UL UMDD UN UNP UPRO URE URTY UTX UVV UWM UXI UYG VAR VB VBK VBR VCI VCR VFH VHT VIG VIS VLO VMED VMI VO VOO VOT VRTU VT VTI VUG VV VXF WAB WCN WDC WHR WLK WRB WXS WY XHB XLF XLI XLV XLY XRT ZBRA ZMH

52-week Lows
34 new lows: .OVX .VXEWZ DOG DRV DXD ESI FAZ FE IACI MIDZ MZZ RSW RWM SDOW SDS SH SJB SKF SMDD SOXS SPXS SPXU SRS SRTY SVM TWM TZA UVXY VIIX VIXM VIXY VLTR VXX VXZ

Top Equity Blocks
7.37m BEE 6.70 -0.15 -2.2% FINRA-ADF 12:57:55 – Burst
4.63m BAC 11.32 -0.03 -0.3% FINRA-ADF 11:05:49 – Burst ANUR
2.39m UMC 1.94 -0.01 -0.5% FINRA-ADF 13:28:26 – Average Price Trade
1.63m AMD 2.65 +0.20 +8.2% FINRA-ADF 11:03:49 – Burst
1.62m AMD 2.67 +0.22 +9.0% FINRA-ADF 14:01:14
1.50m SPY 149.14 +0.30 +0.2% FINRA-ADF 14:53:50 – Out of Sequence
1.36m MU 7.72 -0.12 -1.5% FINRA-ADF 14:08:14
1.30m WAIR 13.30 -0.21 -1.6% FINRA-ADF 10:46:13 – Burst
1.09m AMD 2.64 +0.24 +10.0% FINRA-ADF 10:00:25 – Derivatively Priced
1.00m BMY 34.80 -0.05 -0.1% FINRA-ADF 14:55:42

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Category: Market Update

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About the Author (Author Profile)

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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