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Option Clips: Apple Inc. (AAPL), GasLog Ltd, and NQ Mobile Inc (ADR)

Reviewing notable options activity on Apple Inc., GasLog Ltd, and NQ Mobile Inc (ADR)

by 4/11/2014 1:48 PM
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Three equities generating buzz on StockTwits today are tech titan Apple Inc. (NASDAQ:AAPL), natural gas carrier GasLog Ltd (NYSE:GLOG), and mobile security concern NQ Mobile Inc (ADR) (NYSE:NQ). Here's a look at how traders have been aligning their speculative bets today.

  • Apple Inc. (NASDAQ:AAPL) has extended its recent downtrend, giving up 0.9% to trade at $518.84, and bringing its month-to-date deficit to almost 3%. In fact, the equity is on pace for its lowest close since late February, and options traders today are rolling the dice on the stock's afternoon trajectory. AAPL's 30-day at-the-money (ATM) implied volatility (IV) is 4% higher at 28%, pointing to elevated demand for near-term options. Overall, the stock has seen roughly 176,000 calls and 142,000 puts change hands -- a 58% mark-up to its average intraday volume -- and nine of the 10 most active contracts expire at the closing bell. What's more, eight of the strikes have seen volume exceed open interest, confirming the initiation of eleventh-hour bets. Apple Inc. will report earnings after the close on Wednesday, April 23.

  • GasLog Ltd (NYSE:GLOG) is 3.6% higher at $25.80, after earlier tagging an all-time peak of $26.72. The company last night announced plans to buy three more LNG carriers from a BG Group affiliate, and announced the public offering of 4.2 million common shares, priced at $23.75 apiece. Against this backdrop, overall option volume is running at five times the norm, and the stock's 30-day ATM IV is 12.3% higher at 48.9%, after touching a 52-week peak earlier in the session. Calls are the options of choice, with more than 1,600 contracts exchanged, compared to fewer than 1,000 puts. However, the most active single strike is the May 22.50 put, where 91% of the volume has transpired on the ask side, hinting at buyer-driven activity.

  • Finally, NQ Mobile Inc (ADR) (NYSE:NQ) has plummeted 15.2% to $13.56, after the firm last night reported weaker-than-expected quarterly earnings and confessed to an accounting error. As such, the stock has landed on the short-sale restricted list, and its 30-day ATM IV has experienced a post-earnings plunge of 23.1% to 100.6%. Intraday put volume is running at four times the average pace, with around 21,000 contracts exchanged. Digging deeper, traders appear to be liquidating positions at the April 13 put, which is most active with nearly 6,600 contracts across the tape. Meanwhile, neutral-to-bearish speculators may be selling to open the May 16 call, amid expectations for NQ to remain south of $16 through the close on Friday, May 16, when the options expire.


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