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Option Clips: General Motors Company, Delta Air Lines, and Groupon Inc

Reviewing notable options activity on General Motors Company, Delta Air Lines, Inc., and Groupon Inc

by 1/3/2014 1:13 PM
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Three equities drawing attention from options traders today are car concern General Motors Company (NYSE:GM), airline issue Delta Air Lines, Inc. (NYSE:DAL), and online discount provider Groupon Inc (NASDAQ:GRPN). Here's a look at how traders have been aligning their speculative bets today.

  • General Motors Company (NYSE:GM) has shed 3.1% today to trade at $39.67, thanks to disappointing December sales data. Meanwhile, the most active options contract among single equities across all exchanges belongs to GM's January 2014 42-strike call. The majority of the volume at this out-of-the-money strike crossed in one massive block of 32,639 contracts, which went off at the bid price of $0.31 apiece. With implied volatility ticking higher, it appears that this batch may have been sold to open.

  • Thanks to a 10% jump in per-seat revenue last month, Delta Air Lines, Inc. (NYSE:DAL) is up 5.1%. Today's pop has pushed the shares to $29.10, prompting a number of speculators to cash in their June 28 calls. Of the 5,217 contracts traded here, 85% changed hands at the bid price, and implied volatility has dropped, suggesting that a portion of the activity is of the sell-to-close kind.

  • Groupon Inc (NASDAQ:GRPN) revealed earlier that fellow daily deals site LivingSocial plans to sell its stake in GRPN. On the heels of the news, the stock has tacked on 0.2% to $11.87. One group of speculators in today's session bet on additional upside by scooping up January 2014 13-strike calls. Nearly all of the 3,396 contracts exchanged did so on the ask side, and data from the International Securities Exchange (ISE) confirms buy-to-open activity. Delta for the call is docked at 0.20, or 20%, suggesting a 1-in-5 chance of an in-the-money finish.

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