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Most Active Options Update: Amazon.com, Inc. (AMZN)

Amazon.com, Inc. option bears roll the dice on a steeper end-of-session slump

by 4/11/2014 1:06 PM
Stocks quoted in this article:

The 20 stocks listed in the table below have attracted the highest total options volume during the past 10 trading days. Names highlighted are new to the list since the last time the study was run, and data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. One name of notable interest this afternoon is Amazon.com, Inc. (NASDAQ:AMZN).

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Another day, another move lower for Amazon.com, Inc., which is off 1.6% at last check to churn near $312.10. All told, the equity has shed nearly 19% since hitting its most recent high of $383.11 in mid-March, led lower by its descending 10-day moving average. Not surprisingly, puts have been popular in AMZN's options pits of late, and today's trading is no different. At last check, roughly 33,000 puts had changed hands -- representing a 61% mark-up to the intraday average, and outpacing the 28,000 calls that are on the tape.

All 10 of AMZN's most active contracts expire in one week or less, with the weekly 4/11 315-strike put taking the top spot. The majority of the 4,842 contracts traded here have gone off at the ask price, and volume outstrips open interest, hinting at buy-to-open activity. Based on AMZN's current perch, these puts are in the money. However, breakeven at tonight's close -- when the weekly series expires -- is $311.43, or the strike less the volume-weighted average price of $3.57. Earlier, the stock easily breached this at-expiration breakeven mark when it tumbled to an intraday low of $309.50.

On the fundamental front, Amazon.com, Inc. (NASDAQ:AMZN) announced last night that it will purchase comiXology, a cloud-based digital comics platform. The terms of the acquisition have yet to be disclosed.


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