Facebook and Netflix hit new highs! How the trade in those stocks is shaping up.
In today’s episode Angela Miles covers weekly options set to expire tomorrow, 9/13.
Traders have been wanting NFLX to reach the $300 level, now that it’s happened, what’s next? The weeklys today indicate a potential breakdown with 295 and 300 put buyers moving in to buy weekly options.
Facebook traded to an all-time high in the market this week. Momentum… Today, 12,000 FB options traded right out of the gate this morning with traders buying 44, 45 and 46 strike call options. Implied volatility is high at 56. In Facebook traditional options, traders want the 50 calls and 40 strike puts.
Lululemon attracted plenty attention ahead of earnings, the company turned in a weak forecast, triggering put buyers at the 60 and 62 strikes as the stock trades around $65 dollars. That’s a sign options traders think LULU will trade lower, perhaps below $60 by the weekly options expiration Friday
What a week for Apple. The stock tumbled following its product launch of 2 new iPhones this week. Today, 465 and 470 calls are picking up action, 470 seems to be an important strike for traders and those upside calls are bid up. On the put side, the 460’s are in motion.
BIDU weekly options have popped up on the most active list this week. The stock is trading around $145. The 146 and 150 calls are in play. Volume is heaviest at the 150 strike in the weeklys (possible pin risk?). BIDU is turning into a momentum stock.
Pandora named a new CEO after the close last night and it’s sparking action in the options with 22,000 contracts trading earlier today. In the weeklys, traders are buying 21 and 23 calls. In the traditional’s they want the 24 strike. Pandora was just recently added to the list of available weeklys, The weekly options are just beginning to tune up for Pandora.
There’s a flurry of activity surrounding SINA with 85, 87 and 90 calls ramping up.
Tesla tumbled this week. The stock is trading in the $160 range. The weekly options are indicating a tight range play into Friday’s expiration. The 160 and 165 calls are motivating buyers as are the 160 puts.
The QQQ’s recently traded to a record high. Traders are reaching for the puts at 77 and 78 as they anticipate a pull back in the Q’s. However, there are few traders taking a cheap shot at an upward move by purchasing the 79 call contracts for 2 cents.
That’s a wrap for now. If you have questions about trading weekly options. Just let us know. We have the answers. And, if it appears on this show, you get a gift.