The company traded over 14,000 options on total daily average option volume of just 4,102. 12,000 of those contracts traded in September; it looks like a September 5/7 strangle 2×1 purchase (buy 1 call x buy 2 puts).
The ETF traded over 113,000 options on total daily average option volume of just 23,164. The largest trades were closing call spreads in Aug and a huge open long in Jan '11 17.5 calls.
The ETF traded over 18,000 options on total daily average option volume of just 2,099. All but 1,138 contracts have been calls. The largest trade was 8,000 Oct 25/27 call spread sales, accounting for 16,000 contracts (sell 25 strike, buy 27 strike).
The company traded over 10,000 options in the first two hours on total daily average option volume of just 271. Trading has been in both the calls and puts on retirement news.
This is a high risk pharma/bio-tech with a decision due out in Sep from what the options seem to indicate. Aug IV is 93 while Sep IV is 220.
Post-earnings update
The company traded over 41,000 options on total daily average option volume of just 4,207. The action is fast and furious in the Aug options. A 35/37.5 strangle sale (from what I can tell), 14,000+ Aug 40 calls and nearly 7,000 41 and 42.5 upside calls (combined volume).
AVP has followed a consistent pattern for six out of the last seven earnings starting with the 10-30-2008 cycle and ending with the last earnings cycle on 4-30-2010. Specifically, a straddle sale at the close on the day of earnings and a purchase back the day after was a winner six times and break-even once.
We can see the ATM straddle is now worth $2.54. Yesterday, the straddle was worth $3.31. The one day trade would have turned a 23% profit ex-commissions. The updated earnings and dividends stats are included.
The company traded over 40,000 options on total daily average option volume of just 8,680. 30,000 contracts traded in one trade; a Sep 9/10 risk reversal (sell puts/buy calls) on a 67 delta against $9.65 stock.
BRCM has followed a consistent pattern for seven out of the last eight earnings starting with the 10-21-2008 cycle and ending with the last earnings cycle on 4-27-2010. Specifically, a straddle sale at the close on the day of earnings and a purchase back the day after was a winner seven times.
The company traded over 17,000 options on total daily average option volume of just 554. All but 341 contracts were puts. The largest trade, accounting for 17,000 contracts was 8,500 Aug 40/50 put spread purchases on a 31.25 delta using $51.37 stock.