This is an options expiration week so I’m mostly focused on Weeklys expiring next week.
Oracle reports earnings after the close and it leads the way in this week’s report. Oracle is being closely watched by traders ahead of earnings. The options paper is mixed with call buyers at the 44 strike and put buyers at the 40 strike. The straddle suggests a 4 percent move but has been hard to read, last year the straddle was pricing a 5 percent move into earnings.
Next week in earnings…
Monday its Micron (MU). As the stock trades $31 the puts for next week are active, with traders taking downside positions in the 20 and 30 strikes.
MU was $20 in April, so traders may sense a pull back. The straddle predicts an 8 percent move. Last year for earnings traders were expecting a 9 % move.
Thursday, Nike reports earnings. It could also turn into a World Cup play next week. NKE straddle is pricing around 4 percent up or down off earnings.
Taking a look now at hot movers this week…
Twitter, a trader favorite is around $38 today. Right now, 40 weekly calls buyer positions are on for next week.
Apple tops the list of most actives this week. As AAPL trades $92, calls are moving at 90, 92 and 94 strikes into next week’s options expiration. There are more calls than puts trading.
Amazon is out with its new Fire Phone. More calls than puts are trading in AMZN as Amazon takes on Apple. Traders are mostly bullish & are buying 340 and 350 calls.
Netflix ($441) had unusal options action this week. Now options players are coming for puts all the way down to 415 for next week.
Tesla ($$232) investors hopped on for a ride this week. TSLA is up $5 today with call buyers at 235 and 240. That could be a call spread.
Soda Stream ($38) calls were popping up this week. Today the stock is flat and traders are buying puts at the 35 strike for next weeks expiration.
SPX next week is rather fascinating. There are put buyers at 1,900 and 1,920 strikes and call buyers all the way up to the 2,000 strike.
That’s it for now. Twitter: @AngieMiles