Tuesday’s total option volume of 16.5 million contracts resulted in net open interest growth of 1.24 million calls and 1.96 million puts. News Corp New (NWSA), Bank of America Corporation (BAC), Sprint Nextel Corporation (S) and Apple Inc (AAPL) saw the greatest growth. Top five new positions opened include 40k News Corp New (NWSA) Jul-13 32 calls, 29k Sony Corporation (SNE) Jan-14 13 puts, 20k Sprint Nextel Corporation (S) Aug-13 6 calls, 20k News Corp New (NWSA) Jul-13 30 calls and 17k J C Penney Company Inc (JCP) Aug-13 17 calls.
EMC Corporation (EMC) saw bullish flow yesterday in advance of the EMC/VMWare Institutional Forum today. A 15000-lot of Jan 25 calls traded on the storage device-maker for $1.86 when the market was $1.83 to $1.86. It was tied to 735K shares for $24.28. March 24, 24.5 and 25 calls on EMC also saw interest. Total volume in the stock was 31,000 calls and 5,400 puts yesterday.
Glu Mobile (GLUU) had 18x the normal options volume yesterday with the majority of the trading concentrated in the March 2.5 calls. GLUU is trading at $2.83. The stock gapped higher over the past two days from about $2.40 to $2.80. Last October, the stock was trading at about $5.40.
Pengrowth Energy (PGH) has a 9% dividend. The stock has started to rise sharply. Yesterday, there were buyers of the PGH July 6 calls 5000 times. This was 6.2x normal volume.