clwr-300x300Thursday’s total option volume of 14.2 million contracts resulted in net open interest growth of 2.26 million calls and 2.26 million puts.  Bank of America Corporation (BAC), Clearwire Corporation (CLWR), Facebook Inc (FB) and Apple Inc (AAPL) saw the greatest growth. Top five new positions opened include 79k Clearwire Corporation (CLWR) Sep-13 3 puts, 60k Bank of America Corporation (BAC) Nov-13 9 puts, 40k Clearwire Corporation (CLWR) Sep-13 3 calls, 25k Bank of America Corporation (BAC) Jun-13 10 puts and 23k Clearwire Corporation (CLWR) Apr-13 3 calls.

In Seabridge Gold (SA), there was a buyer of Jan 2014 13 strike calls 14,000 times.  Gold has been under significant downward pressure.  Silver has broken support and turned down sharply.  Today, with the overall equity market opening down on weak job numbers, we will see if gold is a refuge for investors seeking safety.

In RF Micro Devices (RFMD), bullish sentiment last week has turned bearish this week.  Yesterday, there was a buyer of 8,000 May 5 puts.  Last week, Oppenheimer upgraded the stock and stimulated high levels of call buying.

US Steel (X) fell to multi-year lows this week following a dismal performance in recent months.   Yesterday, there was a call ratio buyer of the Jul 18 – 23 (1X2) spread 4500x to open.  The option trade seems to be targeting a move to beyond $19 through the Jul expiration.

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