Weekly – Weekly’s Option Report

Priceline rocks to $1,000 and Apple prepares to unleash its new i-phones.

It’s all happening in this week’s weekly report.

This week Angela Miles is covering weekly options expiring next Friday, September 27th.

Priceline first.  As everyone was focused on the Fed yesterday, PCLN touched $1,001 intra-day. Today in PCLN  there are 995 call buyers paying $10 for those contracts.

There’s also activity centering around the 1,000 and 1,200 strikes. Implied volatility is  low at 20.

Apple is said to be in short supply on its new iPhone 5-S. The new smartphone is getting rave reviews from tech analysts. In the options world  79,000 contracts have already traded. In the weeklys traders want 470 calls, but for now the most popular strike among traders is the 500  call. There’s some put nibbling at the 465 strike. AAPL has been active all week.

Blackberry options are on the move.  The Wall Street Journal says the company is cutting 40% of its staff by the end of the year. BBRY has earnings next Friday, right on the weeklys options expiration day. Ahead of the news, 10 and 11 strike calls are in action and there are some 9 strike put buyers. In the traditional options October 11 and 12 strikes calls are in play. Those could be people spreading between the weeklys and the traditional expiration.

Tesla is an interesting story today with  200 strike call buyers initiating positions today ahead of next week’s expiration, the implied vol on Tesla is low at 44.

Facebook is attracting big interest with calls in motion at the 44, 46 and 47 strikes.  On the put side its the 43 and 44 lines.

And, as the S&P 500 rocks to a record high this week, the bulls are moving in and buying SPX calls all the way up to 1,825 strike. The 1,675 strike put have been active.

That does it for now. If you have questions about trading weekly options– we are here for you. Send us your question, you’ll get an answer and if it appears on this show.. you get a gift.