Monday’s total option volume of 16.0 million contracts resulted in net open interest growth of 2.20 million calls and 2.52 million puts. Research In Motion Ltd (BBRY), Bank of America Corporation (BAC), Ford Motor Company (F) and Apple Inc (AAPL) saw the greatest growth. Top five new positions opened include 37k Ford Motor Company (F) Mar-13 13.5 calls, 36k Freeport McMoran Copper and Gold Inc (FCX) Aug-13 41 calls, 34k Freeport McMoran Copper and Gold Inc (FCX) Aug-13 45 calls, 30k TJX Companies Inc (TJX) Apr-13 45 calls and 22k Research In Motion Ltd (BBRY) Mar-13 14 puts.
In Starwood Hotels & Resorts (HOT), there was a buyer of 13,000 March 65 calls. The company is hosting an Investor Day tomorrow. The next earnings release is on April 25 before the market. The stock appears poised to break out to new 52 week highs.
Marriott (MAR) also saw bullish flow yesterday with 3,000 calls bought versus 90 puts. The March 41 calls were the most active. We are drawing attention to the Marriott trade because of the bullish flow in peer Starwood.
Copart (CPRT) has just pulled back from about $37.50 to $31.50 over the past month. Yesterday, there was a buyer of May 35 and Aug 40 calls 5,000x collectively. Yesterday, CPRT was added to the NASDAQ 50 Index. On March 8, the CEO sold roughly $16.8 million worth of personal stock. The company reports earnings on May 28.