Monday’s total option volume of 14.6 million contracts resulted in net open interest growth of 2.82 million calls and 2.73 million puts. Bank of America Corporation (BAC), Apple Inc (AAPL), Citigroup Inc (C) and Facebook Inc (FB) saw the greatest growth. Top five new positions opened include 26k Bank of America Corporation (BAC) Jan-15 20 calls, 19k ConocoPhillips (COP) 3/22 weekly 60 calls, 16k Best Buy Company (BBY) Apr-13 23 calls, 15k Bank of America Corporation (BAC) 3/28 weekly 12.5 puts and 13k Bank of America Corporation (BAC) 3/22 weekly 12 puts.
In LCA-Vision (LCAV), there was 303x the normal options flow with 1500 Sep 5 calls being bought to open. Over the past year, the stock has come down from about $9 to $3. At its current level, the stock seems to have based and be bouncing along support.
In Bed, Bath and Beyond (BBBY), there was unusual bullish flow in the options on the retailer on Monday. 7,390 calls and 2,205 puts traded. Recent trades included smaller sweeps of Apr 60 calls on the stock across multiple exchanges for $3.30 and $3.35 per contract. The market was $3.20 to $3.35. Apr 62.5 and 65 calls on BBBY also saw interest and 30-day implied volatility was up 10 percent to 27.5. There was no news to explain the heightened options activity or relative strength in the stock yesterday.