The company traded over 8,000 options on total daily average option volume of just 435. The action was in the Dec options; a Dec 10/15 risk reversal (buy puts/sell calls) 4,000x.
The company traded over 55,000 options on total daily average option volume of just 3,167 (note that the stats tab displays 75,000 which includes 20,000 cancelled contracts). The action was an Aug 14/17 strangle purchase and ~14,000 Aug 16 puts which may have been two sided paper.
In the previous article I noticed an Aug 55/70 strangle buyer for $1.75 into earnings which are due out on 7-28-2010. ITRI has moved more than the straddle implies for the last two earnings cycles, and it looked like this trade was betting on a third move.
The company traded over 17,000 options Tuesday on total daily average option volume of just 2,502. The largest trades occurred in Dec accounting for ~ 16,000 options. The trades were a purchase of a Dec 21/24 call spread and a sale of the Dec 17.5 puts to fund it.
A 20% one day return, right on the average. Since being naked short an AAPL straddle is pretty risky, let's close this one out right now. The trade wins to a 15.6% dip in vol and a nice $7.72 move up in stock price.
The company traded over 8,000 options Monday on total daily average option volume of just 863. Most of the action was in August, specifically the Aug 55 put purchases and Aug 70 call purchases
For the last eight earnings cycles AAPL has followed a consistent pattern. Namely, the stock has gone up from close to close each time.
The company traded over 16,000 options in the first three hours on total daily average option volume of just 5,030. All but 2,506 contracts have been puts. The largest trade has been an Aug 11/10 put spread 1×2 (buy Aug 11 , sell 2 Aug 10).
The company traded over 17,000 options on total daily average option volume of just 1,009. All but 353 contracts were puts. Essentially all of the action was 8,469 Jan '11 25/27.5 put spread purchases.
The company traded over 13,000 options on total daily average option volume of just 508. Zero (0) puts traded; the order flow is entirely call buying in Aug and Jan '11.
At the time of this post VVUS was trading $5.06, down 58.3% with front month volatility down several hundred points.
This is an update to this post from Friday General Electric (GE) – Earnings Preview on Volatility Pattern.