Weekly Weeklys Report 5.1.14

Weekly Weeklys

I’m headlining with LinkedIn ahead of earnings in this week’s report.  We’re covering Weeklys options that expire this Friday and next Friday, May 9th.

Traders are predicting a major move in LinkedIn off earnings.

LinkedIn’s straddle is pricing in around a $14 move up or down off the strike price of $160 (~9%).  In the Weeklys calls are active at the160 and 180 strikes for this week. And, 125 and 140 put strikes. LNKD has rallied into earnings.

Akami also reports earnings after the close, and as the stock trades $54, puts are active today at 46 and 50 strike. The straddle suggests a 9% move.  Al Sherbin revealed his earnings play on my show Tuesday if you want to check that out.

Wynn Resorts is another stock to watch with earnings after the close. WYNN trades ~$202.  Options paper is active at 205 and 210 strikes on the calls side, downside put players are buying the 200 strike put contracts. The straddle forecasts a 6% move.

Next week Tesla reports earnings on Wednesday. Weeklys are active for next week. Tesla is already generating action with the 220 and 230 call strikes. A trader came in this morning and initiated a 150 strike put position with 86 contracts right after the opening, it maybe be put buying or selling.  TSLA’s straddle predicts a $16 move so far for next week.

Among big movers this week….

Twitter continues to attract put buyers in the 37 and 38 strikes, along with call buyers in the 39 and 40 strikes. The call buyers may believe the stock will rally into Fridays expiration after this week’s sell off.

Apple is trading around $592 today, what looks like a call spread for this week initiated today at 590, 592 and 600. There are put buyers of the 590 strike.

SPX is attracting 1,900 strike call buyers as well as put players using 1,865 and 1,875 strikes.

Among new names on the list of available Weeklys:

Market Vector Russia ETF and Pioneer Natural Resources.

If you have questions about trading weekly options, send them our way. You can email us or tweet us, we will get you an answer and if it airs on the show you get a gift. Thanks for watching.  I’m Angela Miles