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Daily Stock Market Equity and Options Trading Commentary

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Friday, November 27, 2009

Most Active Stock Options November 27, 2009 & Trading Activity

As of today the top ten most active stock option contracts traded were:
  1. Gold SPDR (GLD) December 118 Call Options
  2. Gold SPDR December 121 Call Options
  3. Volatility Index (VIX) January 22.50 Put Options
  4. S&P 500 SPDR (SPY) January 100 Put Options
  5. S&P 500 SPDR December 100 Put Options
  6. S&P 500 SPDR December 110 Call Options
  7. Volatility Index January 37.50 Call Options
  8. Kellogg (K) January 45 Call Options
  9. S&P 500 SPDR December 109 Put Options
  10. S&P 500 SPDR December 110 Put Options
As you already know it was an extremely ugly day due to the Dubai mess and it could have been much worse. This is most likely the reason the GLD call options exploded today. My plan this morning as I looked at the futures, was to be closing as many short call positions on stocks like: Google (GOOG), Apple (AAPL), Bank of America (BAC) and Las Vegas Sands (LVS) and opening as many short put positions on the following stocks: Corning (GLW), Visa (V), Bank of America (BAC) and American Express (AXP), as I believed we would see the market gain strength going into close. After seeing many of the call contracts I closed early this morning almost double in value from the price I purchased them for, I decided it was time to sell premium before the weekend again. I reopened my short call positions on Google, Apple, and Las Vegas Sands, but never got my ask filled on Bank of America (BAC).

As volatility came 2 points off the morning highs near 11:30 AM I decided it may be time to start closing my short put positions as well. I ended up closing all of my short put positions except for Corning (GLW) for an average gain of 45%. It will be interesting to see what Monday brings as I assume the volume will be much greater than the past few days. Happy birthday mom, and happy trading! Sphere: Related Content

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