Wednesday’s total option volume of 16.4 million contracts resulted in net open interest growth of 2.94 million calls and 2.50 million puts. Rite Aid Corp (RAD), Microsoft Corp (MSFT), Apple Inc (AAPL) and Corning Inc (GLW) saw the greatest growth. Top five new positions opened include 66k Corning Inc (GLW) Aug-13 14 calls, 56k Rite Aid Corp (RAD) Jul-13 2.5 calls, 55k Rite Aid Corp (RAD) Jul-13 2.5 puts, 26k General Motors Company (GM) 4/26 weekly 31 calls and 25k Intel Corporation (INTC) Aug-13 25 calls.
In Gran Tierra Energy (GTE), there was a buyer of Nov 7.5 calls 3400 times. GTE has been trading in a range of roughly $5 to $6 for the past several months. Recently, the company announced record quarterly production.
Yesterday, there was unusual bullish flow in Hologic (HOLX). 4,000 May 22 and 1000 May 21 calls were bought. On Monday and Tuesday of this week, there was unusual opening call buying in the May 20 and 22 strikes. The bullish call positions have been placed while the stock has dropped from about $22 to $20 in the past couple of weeks. The company reports earnings on May 6.
On the bearish side, there was a buyer of 3600 Jan 40 puts in Forest Laboratories (FRX). Two days ago, the company beat earnings and revenue expectations but guided FY2014 below consensus expectations.