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Daily Stock Market Equity and Options Trading Commentary

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Wednesday, October 21, 2009

Most Active Stock Options October 21, 2009 & Trading Activity

The top ten most active stock option contracts today were:
  1. Citigroup (NYSE:C) January 2011 5 Call Options
  2. Caterpillar (NYSE:CAT) November 37 Call Options
  3. S&P 500 SPDR (NYSE:SPY) November 107 Put Options
  4. Sun Microsystems (NASDAQ:JAVA) January 6 Put Options
  5. S&P 500 SPDR November 100 Put Options
  6. S&P 500 SPDR November 108 Put Options
  7. Caterpillar November 40 Call Options
  8. Apple (NASDAQ:AAPL) November 210 Call Options
  9. Volatility Index (CBOE VIX) November 22.50 Put Options
  10. S&P 500 SPDR November 109 Put Options
Caterpillar will be spinning a dividend out tomorrow which is likely the reason for the activity. The activity yesterday was a bit more bearish than today's, however we had a big opportunity going into close to cover some put positions for quick profits if opened this morning. I sold some Apple November 220 strike call options against my December 200 strike call contracts for 61% of the cost I purchased the 200's for. I will look to purchase them back on weakness in Apple stock tomorrow. I also sold some 15 and 16 strike Put options on Corning (GLW), and opened a 2/1 ratio put spread for the 24/22 strikes on Ebay (EBAY) today. It looks as if the Ebay is trading below 23 a share in after hours even with a beat in EPS. I will look to close my 24 puts and corresponding 22 puts on weakness in Ebay tomorrow. I will leave the remaining 22 put contracts to develop into a possible long position. Happy trading! Sphere: Related Content

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