Weeklys Report 5.9.13

Today, I’m covering weeklys that expire this week, tomorrow, Friday.   Trades are revving up inTesla weekly options, where there is huge interest in weeklys options!    The electric car company turned its first ever profit..the stock took off like a rocket after the close on the news and is up $10, which has the shorts running scared. In options action, 65,000 contracts have traded, mostly calls. Some traders are taking profits on 60 calls they purchased earlier.  Call buyers are motoring in to buy the 72 and 75 calls.  The 70 straddle is pricing in at $4.25.

Groupon (GRPN) topped earnings targets.  The stock is trading above $6.
The 5 & 6 weekly call strikes are active. Some traders are hoping to profit by selling traditional 7 calls, possibly against the their plays in the weeklys.

Google (GOOG) is attracting all kinds of attention as it trades to new highs. More than 21,000 options contracts traded out of the gate today. As the stock was trading around $871, traders moved in to buy 875 and 880 calls. There is some very light nibbling at the 860 put strike.

Apple (AAPL) is hot again.  Traders are buying the 460 calls for $7.25, the 465 calls are active as well. The 460 straddle is going for $15.70.

Priceline (PCLN) earnings are out later today, the wings and tails are active on this one. There is downside put buying all the way down to the 560 strike and upside calls strikes at 770 and 790. The big story is the straddle price. The 735 straddle is $45, that is low considering it was $59 a year ago.

Nvidia (NVDA) also has earnings out today. The 14 calls are active in the
weeklys and the traditional Jun 15 calls are busy. The 14 weekly straddle prices in at 73 cents.

In SPX there are put buyers at 1610 and 1615.
Among the stocks added to the list of available weeklys: Dow Chemical
And Under Armour

If you have questions about trading the weeklys, send ’em our way.