Tuesday’s total option volume of 16.5 million contracts resulted in net open interest growth of 1.95 million calls and 1.92 million puts. Intel Corporation (INTC), Yahoo Inc (YHOO), Barrick Gold Corporation (ABX) and Bank of America Corporation (BAC) saw the greatest growth. Top five new positions opened include 34k Sprint Nextel Corporation (S) May-13 7 calls, 30k Barrick Gold Corporation (ABX) Jan-14 30 calls, 30k Delphi Automotive Plc (DLPH) May-13 40 calls, 29k Intel Corporation (INTC) Apr-13 22 calls and 24k Bank of America Corporation (BAC) Apr-13 12.5 calls.
Vertex Pharmaceuticals (VRTX) had 4x the normal bullish flow yesterday with opening buyers accumulating 2000 May 55 calls and 4000 May 60 calls. The company reports earnings on April 30, after market close.
Logitech (LOGI) made a decisive move above its 50-day moving average yesterday in relatively active trading of a half million shares. Options on the stock saw increasing volume as well. Volume was 245x normal with opening buyers of 4,000 Jun 8 and 2500 May 8 calls. The company announced that its CFO is leaving to become Roku’s CFO. The company reports earnings on April 24.
A put seller came into focus in Milan-based eyeglass maker Luxxotica (LUX) yesterday afternoon, selling 20,000 10.6% out-of-the money May 45 puts for 8.5cents to open the largest options position in the name. Similar to a 10cent April 45 put seller that showed up a month ago, but yesterday’s trade was double the size and appears to suggest a strong view that $45 is an attractive price to own shares.