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Most Active Options Update: BlackBerry Ltd (BBRY)

BlackBerry Ltd call players bet on a continuation of today's uptrend

by 1/6/2014 2:49 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 BlackBerry Ltd (NASDAQ:BBRY).


BlackBerry Ltd has tacked on 3.9% this afternoon, following reports that the struggling smartphone maker hired former Sony Ericsson exec Ron Louks to lead its devices and emerging solutions department. Earlier, the stock touched the $8 mark for the first time since Nov. 1. Not surprisingly, call volume is running at a 35% mark-up to average intraday levels, and a number of traders are betting on today's momentum to carry through to week's end.

The most popular position thus far is the weekly 1/10 7.50-strike call, where 15,500 contracts have traded, including one large lot of 9,719. The vast majority of the calls changed hands on the ask side, implied volatility has soared 20.1 percentage points, and only 3,118 contracts make up open interest at this strike, indicating the initiation of new bullish positions. With BlackBerry Ltd (NASDAQ:BBRY) currently trading at $7.91, these calls have surpassed today's average breakeven mark of $7.88, which is the strike plus the volume-weighted average price of $0.38.


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