Stocks quoted in this article:
The 20 stocks below have attracted the highest options volume -- in the front three-months' series -- during the past 10 trading days. Data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Three names of notable interest this afternoon are General Electric Company (NYSE:GE), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT).
AAPL has been unaffected by this morning's upbeat brokerage note, with the shares lower at last check. Option players who are selling to open the weekly 10/11 495-strike calls, meanwhile, are eyeing a short-term ceiling for the struggling stock. Elsewhere, MSFT is following in the bullish footsteps of the broader market. Speculators purchasing (to open) the November 33 puts appear to think the stock is poised for a pullback, though. Moving on, here is a quick look at the interesting activity in GE's options pits.
Call players are targeting General Electric Company today, with the contracts trading at nearly four times the average intraday volume. One of the more active strikes is the December 25 call, which has seen 45,708 contracts change hands -- all at the bid price. The vast majority of this activity was the result of one large block of 45,000 calls that was exchanged at the bid price of $0.40. Although GE is not trading north of $25 (the stock was last seen lingering near $23.99), Trade-Alert indicates that one institutional speculator is most likely closing out his positions that were initiated in mid-September. Thanks to a jump in implied volatility (the calls were originally purchased in two blocks, for $0.37 and $0.39 apiece, respectively), the trader is coming out on top.
Elsewhere in GE's options pits, one speculator is giving her bullish bet a bit more time to come to fruition. Shortly after the opening bell sounded, two equally sized blocks of 4,617 calls changed hands at the weekly 10/4 24 strike and the weekly 10/11 24 strike. The former changed hands at the bid price of $0.13 each, while the latter crossed the tape at the ask price of $0.31 apiece. Considering the weekly 10/4 24-strike calls will expire at tonight's close, and Trade-Alert suggests the further-dated calls were opened, it appears this General Electric Company (NYSE:GE) bull rolled out her short-term bets.