Tuesday’s total option volume of 13.3 million contracts resulted in net open interest growth of 2.08 million calls and 2.40 million puts. Bank of America Corporation (BAC), Microsoft Corp (MSFT), Apple Inc (AAPL) and Citigroup Inc (C) saw the greatest growth. Top five new positions opened include 22k Bank of America Corporation (BAC) 1/11 weekly 12 puts, 20k Bank of America Corporation (BAC) Feb-13 12 calls, 19k Linn Company LLC (LNCO) Aug-13 35 puts, 15k Newcastle Investment Corp (NCT) Aug-13 10 puts and 15k Newcastle Investment Corp (NCT) Aug-13 10 calls.
In EMC Corp (EMC), 29915 calls traded, or 3x the recent avg daily call volume in the name. Shares were near $23.9 (-0.23) with ATMIV lifting by 1.04 point and 74% of yesterday’s call premium trading offer side. The company reports earnings on January 29.
In Sony Corporation (SNE), 2.5x the normal volume traded yesterday with the action being concentrated in the April 10 and 11 calls. SNE bounced off of a recent low of $9.50.
On the bearish side, 256x the normal volume of options traded yesterday in Linn Company (LNCO). 19,000 Aug 35 puts were bought opening. LNCO went public in October. Its assets consist soley of limited partner interest in Linn Energy (LINE). LINE is expected to report earnings in mid February.