Friday’s total option volume of 14.8 million contracts resulted in net open interest growth of 2.44 million calls and 2.42 million puts. Apple Inc (AAPL), J C Penney Company Inc (JCP), Bank of America Corporation (BAC) and Facebook Inc (FB) saw the greatest growth. Top five new positions opened include 35k Clearwire Corporation (CLWR) Dec-13 4 calls, 32k Pitney Bowes Inc (PBI) Jul-13 17 calls, 24k Occidental Petroleum Corporation (OXY) May-13 85 calls, 24k Bank of America Corporation (BAC) Jan-15 15 calls and 23k Bank of America Corporation (BAC) Jul-13 12 puts.
Regal Entertainment Group (RGC) is pushing to new highs. On Friday, there was a buyer of 1000 July 19 calls. This was 9x normal. The company is scheduled to report earnings tomorrow after market close. On April 15, Stifel raised its price target to $20 from $17.
On Friday, there was a buyer of 5,000 McGraw Hill (MHP) Nov 50 contracts. MHP reports earnings tomorrow before market open. MHP had gapped lower in February as a result of having its S&P Capital IQ group embroiled in a Department of Justice lawsuit. Since February, the stock has rebounded sharply.
Atmel (ATML) is scheduled to report earnings after the close on May 1. On Friday, there was a buyer of 2000 ATML May 6 puts. The stock is currently trading at about $6.70.