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Option Clips: Salesforce.com, inc., BlackBerry Ltd, and SINA Corp

Reviewing notable options activity on Salesforce.com, inc., BlackBerry Ltd, and SINA Corp

by 6/30/2014 2:06 PM
Stocks quoted in this article:

Three names seeing notable option activity today are cloud specialist Salesforce.com, inc. (NYSE:CRM), smartphone maker BlackBerry Ltd (NASDAQ:BBRY), and Chinese Internet issue SINA Corp (NASDAQ:SINA). Here's a look at how today's option traders have been placing their bets on CRM, BBRY, and SINA.

  • Salesforce.com, inc. is up 1.4% this afternoon on no apparent news, with the shares last seen lingering near $58.20. In the stock's options pits, calls are crossing the tape at a rate two times the intraday average, and short-term contracts are in demand, per CRM's 30-day at-the-money (ATM) implied volatility (IV), which is up 3.3% to 30.2%. Receiving notable attention is the stock's July 62.50 call, which appears to be seeing buy-to-open activity, as traders gamble on more upside over the next two weeks.

  • Also trading in the green today is BlackBerry Ltd (NASDAQ:BBRY), which is up 4.7% at $10.23. The stock is on pace to finish June with a nearly 35% lead -- and in double-digit territory on a monthly closing basis for the first time since February. Meanwhile, although put volume more than doubles what's typically seen at this point in the day, one speculator, in particular, is using puts to make a moderate-to-bullish bet. Specifically, this trader sold to open a block of 10,000 January 2015 9-strike puts for $0.91 apiece, resulting in an initial net credit of $910,000. Simply stated, the goal is for BBRY to stay north of $9 through January 2015 options expiration.

  • Finally, SINA Corp (NASDAQ:SINA) is up 6% this afternoon to trade at $50.71. Not surprisingly, call volume has soared to three times the expected intraday amount, and the equity's 30-day ATM IV is up 4.1% to 43.6% -- highlighting a preference for near-term options. The two most active options are SINA's weekly 7/3 52-strike call and July 50 call, which have seen a collective 4,691 contracts change hands. A healthy portion of these changed hands at the ask price, IV is higher, and volume outstrips open interest at the weekly strike -- all signs of buy-to-open activity.

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