Friday’s total option volume of 14.3 million contracts resulted in net open interest growth of 1.49 million calls and 1.49 million puts. Apple Inc (AAPL), Fifth and Pacific Companies Inc (FNP), Qualcomm Inc (QCOM) and Bank of America Corporation (BAC) saw the greatest growth. The top five new positions opened include 36k Fifth and Pacific Companies Inc (FNP) Dec-12 10 calls, 36k Fifth and Pacific Companies Inc (FNP) Dec-12 10 puts, 30k McGraw Hill Companies Inc (MHP) Dec-12 42.5 puts, 21k Sirius XM Radio Inc (SIRI) Dec-12 3 calls and 20k Bank of America Corporation (BAC) Dec-12 11 calls.
With ADT Corporation (ADT) hitting a 52 week high, there was a buyer of 11,000 ADT Dec 46 calls which expire on Friday. In Dish Network (DISH), there was a buyer of 4K Jan 39 calls and almost 7K Jan 40 calls, opening. Last week, Canaccord Genuity raised its price target on DISH to $43 from $35. The company reports earnings on Feb 21, well after the January option expiration. In Fairchild Semiconductor International (FCS), market participants got long 4000 Feb 13 calls. This bullish action was 22 times normal 100% of total open interest. The company is scheduled to report earnings Jan. 16. In Taiwan Semiconductor Manufacturing (TSM), opening buyers bought to open 5700 Dec 15.50 calls which was 10 times normal and represented 30% of total open interest.