The 20 stocks listed in the table below are the S&P 500 Index (SPX) components that have attracted the highest weekly 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 today is biopharmaceutical firm Gilead Sciences, Inc. (NASDAQ:GILD), as eleventh-hour option bulls gamble on a fresh all-time peak.

After taking a post-earnings dip yesterday, Gilead Sciences, Inc. is up 3% today -- and earlier hit a record high of $114.35 -- after a pair of analysts maintained their bullish stances on the stock. Specifically, S&P Capital IQ reiterated its $150 price target, citing forecasts for "a re-acceleration of Hepatitis C sales driven by Harvoni in the fourth quarter and 2015." Elsewhere, an analyst at Citigroup suggested traders "buy the dip as the destocking in Sovaldi will be compensated by stocking in Harvoni in the fourth quarter ... We continue to expect material upside to consensus estimates in 2015 for Hepatitis C and this drives our conviction in the stock."

Against this backdrop, calls are trading at 1.2 times the average intraday rate, and are outpacing puts by a 2-to-1 margin. A significant portion of the day's action is being driven by eleventh-hour speculators, as five of GILD's 10 most active options expire at tomorrow's closing bell.

Receiving the most attention is the equity's weekly 10/31 115-strike call, which is being bought to open for a volume-weighted average price (VWAP) of $0.56. Based on this average entry price, breakeven for today's call buyers is $115.56 (strike plus the VWAP). Gains will accumulate on a move north of here -- representing a new all-time peak for the shares -- while losses are capped at the premium paid, should Gilead Sciences, Inc. (NASDAQ:GILD) stay south of the strike through tomorrow's close.

Option traders have taken a shine to Chinese Internet issue Baidu Inc (ADR) (NASDAQ:BIDU), Apple Inc. (NASDAQ:AAPL) supplier Cirrus Logic, Inc. (NASDAQ:CRUS), and social networking titan Facebook Inc (NASDAQ:FB). Here's a look at how speculators have been placing their bets on BIDU, CRUS, and FB today.

• Baidu Inc (ADR) (NASDAQ:BIDU) rocketed to a record high of $237.55 out of the gate, but has trimmed its lead to 4.2% to flirt with $233.90. The company -- often called the "Google of China" -- touted a "very strong" third quarter (subscription required), thanks to a surge in mobile traffic. As such, Pacific Crest, Barclays, and Piper Jaffray all upped their price targets on BIDU, and option traders are in a tizzy. Intraday options volume is running at four times the typical pace, and eight of the 10 most active contracts expire at tomorrow's closing bell. What's more, calls are outpacing puts -- a deviation from the norm. The stock's weekly 10/31 235- and 237.50-strike calls have seen a mix of buying and selling activity, and volume has surpassed open interest at both strikes, hinting at fresh eleventh-hour bets.


• Despite reporting stronger-than-expected fiscal second-quarter earnings and offering up a solid current-quarter forecast, Cirrus Logic, Inc. (NASDAQ:CRUS) has dropped 10.2% to $19.68. The shares initially ticked higher in after-hours trading, but are now back below their 200-day moving average, landing on the short-sale restricted list. As such, bears are heading to the options pits, picking up CRUS puts at 10 times the average intraday rate. Furthermore, puts are outpacing calls by a margin of more than 2-to-1, marking a significant shift in sentiment among buyers. Digging deeper, skeptics are apparently buying to open weekly 10/31 21- and 21.50-strike puts, amid expectations for CRUS to extend its plunge through tomorrow's close, when the options expire.


• Finally, Facebook Inc (NASDAQ:FB) is extending yesterday's post-earnings swoon, down 3.3% at $73.35, bringing its weekly drop to 9.1%. Options traders are rushing to place bets on the stock's end-of-week trajectory, with intraday volume running at twice the average rate. The security's 30-day at-the-money implied volatility has jumped 12% to 33.1%, and eight of the 10 most active options expire tomorrow night, underscoring a growing affinity for short-term contracts. Upon closer inspection, it looks like bulls are buying to open the weekly 10/31 74.50- and 76-strike calls, on hopes for FB to rebound north of the strikes by the end of the week. Meanwhile, the weekly 10/31 75-strike call has seen a mix of buy- and sell-to-open activity.

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 today is chipmaker Intel Corporation (NASDAQ:INTC), as both long- and short-term traders brace for additional losses.

Intel Corporation is off 2.7% today -- the biggest loser on the Dow thus far -- amid a sector-wide slump in semiconductor stocks. The quick move to the downside has prompted a rush of put activity in the equity's options pits, with volume running at two times the average intraday pace. Diving deeper reveals both short- and long-term traders are rolling the dice on steeper losses for INTC.

Short-term option bears have set their sights on the stock's weekly 10/31 33.50-strike put, where 9,718 contracts have changed hands -- mostly at the ask price, hinting at buyer-driven activity. Implied volatility is up 15.5 percentage points, and only 1,842 contracts reside here, making it safe to assume new positions are being initiated (a theory echoed by Trade-Alert). Based on INTC's current perch at $32.98, the puts are in the money. According to the option's delta of negative 0.79, there's a strong probability INTC will be docked south of the strike at tomorrow's close, when the weekly series expires.

Receiving the most attention thus far, though, is INTC's January 2015 32-strike put, where 11,326 contracts have crossed the tape. The majority of this action occurred when a block of 9,173 contracts appears to have been bought to open for $1.04 apiece, resulting in an initial net debit of about $954,000 (number of contracts * premium paid * 100 shares per contract). This is the most the put buyer stands to lose, should the security be north of the strike when the January options expire. Gains, meanwhile, will accumulate on a move south of breakeven at $30.96 (strike less premium paid).

Today's accelerated put activity marks a change of pace in Intel Corporation's (NASDAQ:INTC) options pits -- with call buying growing increasingly popular in recent weeks amid the stock's attempt to rebound from its post-earnings plunge. In fact, since the company reported earnings on Oct. 14, INTC's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio has risen to 2.70 from 1.89, and is now ranked in the bullishly skewed 69th percentile of its annual range.

Among the stocks attracting attention from options traders lately are tech titan Hewlett-Packard Company (NYSE:HPQ), 3-D printer maker 3D Systems Corporation (NYSE:DDD), and coffee concern Keurig Green Mountain Inc (NASDAQ:GMCR). Below, we'll break down how options buyers are positioning themselves, and how much speculators are willing to pay for their bets on HPQ, DDD, and GMCR.

• HPQ finished 0.5% lower at $35.38 on Wednesday, despite announcing its foray into the 3-D printing arena. From a longer-term perspective, the equity has underperformed the broader S&P 500 Index (SPX) during the past two months, yet option buyers have grown increasingly bullish. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 4.66 stands just 1 percentage point from an annual high, pointing to a healthier-than-usual appetite for HPQ calls over puts during the past two weeks. The security's Schaeffer's Volatility Scorecard (SVS) sits at 60, implying that Hewlett-Packard Company has tended to make in-line moves over the past year, relative to what the options market has priced in.


• HPQ's announcement made more of an impact on DDD, which settled 4.7% lower at $37.10, after touching a new annual low of $36.12. The security is now down 60% year-to-date, yet the stock's 50-day ISE/CBOE/PHLX call/put volume ratio of 1.68 stands higher than three-quarters of all other readings from the past year. However, some of the recent call buyers could be short sellers looking to hedge against any unexpected upside. Short interest accounts for nearly one-third of 3D Systems Corporation's total available float, representing more than two weeks' worth of pent-up buying demand, at the equity's average pace of trading. Whatever the motive, DDD's short-term options are attractively priced right now. The equity's SVS rests at a lofty 99, suggesting the shares have tended to make outsized moves on the charts, relative to option premiums.


• Finally, GMCR edged 0.8% higher to $147.87, bringing its year-to-date gain to an impressive 95.8%. Although Keurig Green Mountain Inc has outperformed the SPX by more than 20 percentage points during the past three months, and just touched a record high of $148.11 on Tuesday, the bullish bandwagon is far from crowded. Not even half of the analysts following GMCR deem it worthy of a "buy," and the equity's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.94 ranks in the 73rd percentile of its annual range. In simpler terms, option buyers have picked up puts over calls at a faster-than-usual pace during the past couple of weeks, and short-term traders could be placing well-timed bets, as the stock's SVS is perched at 95. However, should GMCR extend its quest for new highs, a round of upgrades and/or a mass exodus of option bears could translate into additional tailwinds.

Stratasys, Ltd. (NASDAQ:SSYS) is 1.8% lower, after tech heavyweight Hewlett-Packard Company (NYSE:HPQ) announced it is throwing its hat into the 3-D printing ring. This move lower only echoes the equity's recent technical troubles, with SSYS down 4.1% month-to-date at $115.87, thanks to newfound pressure from its 40-day moving average. This dreary price action isn't enough to satiate today's options bears, who are calling for a steeper slide in both the short- and long-term.

Taking a quick step back -- puts are trading at four times what's typically seen at this point in the day, and are outpacing calls by a 2-to-1 margin. Most active is the stock's weekly 10/31 109-strike put, where 687 contracts have changed hands. The majority of these have gone off at the ask price, implied volatility is up 7.9 percentage points, and volume outstrips open interest -- all signs new positions are being purchased. Delta on the put is docked at negative 0.12, suggesting a 12% chance the option will be in the money at Friday's close, when the weekly series expires.

Longer-term traders, meanwhile, are buying to open the stock's March 80 put. Based on the volume-weighted average price (VWAP) of $2.29, breakeven for today's put buyers is $77.71 (strike less VWAP), or territory not charted by SSYS since June 2013. Gains will accrue on a move south of here, while losses are limited to the premium paid, should the stock be perched atop $80 at March options expiration.

On the fundamental front, Stratasys, Ltd. (NASDAQ:SSYS) is slated to take its turn in the earnings confessional ahead of the open next Wednesday, Nov. 5. Over the past four quarters, the stock has averaged a single-session post-earnings gain of 2.8% -- which includes a nearly 15% pop in August. This time around, the options market is pricing in a post-earnings move of roughly 9%.

Three stocks seeing notable options activity today are commodity concern Barrick Gold Corporation (USA) (NYSE:ABX), communications expert JDS Uniphase Corp (NASDAQ:JDSU), and metal magnate United States Steel Corporation (NYSE:X). Here's a look at how today's options traders have been placing their bets on these three names.

• Ahead of tonight's third-quarter earnings report, Barrick Gold Corporation (USA) (NYSE:ABX) is off 4.2% at $12.95, after earlier touching a 14-year low of $12.90. Not surprisingly, puts are flying off the shelves at more than double the expected intraday rate. It appears short-term ABX options are in demand, too, based on the stock's 30-day at-the-money (ATM) implied volatility (IV), which has gained 1.6% to 34.5%. Digging deeper, the equity's November 12 put is seeing buy-to-open activity, as option bears wager on lower lows over the next several weeks.


• JDS Uniphase Corp (NASDAQ:JDSU) will also report quarterly numbers later this afternoon. In the lead-up to that event, the shares are off 1.1% at $12.33, bringing their year-to-date deficit to 5%. Meanwhile, puts are trading at a breakneck pace -- 11,000 contracts are currently on the tape, versus an expected amount of roughly 500 -- and the security's 30-day ATM IV has popped 7.5% to 46.7%, suggesting short-term strikes are sought-after. Digging deeper, near-term option bears are buying to open JDSU's November 11 put, anticipating additional downside. Meanwhile, longer-term skeptics may be selling to open the stock's January 2015 13-strike call, rolling the dice on a technical ceiling over the next several months.


• United States Steel Corporation (NYSE:X) has soared 5.8% to trade at $40.37, after besting the Street's earnings and sales estimates for the third quarter. In so doing, the equity is shrugging off a price-target cut to $42 from $48 at Jefferies, which also reiterated its "hold" opinion on the shares. In the options pits, volume is double what's expected at this point in the day. Most active is X's January 2015 40-strike put, which bearish bettors are buying to open in the hopes of a retreat below the round-number $40 level. Another strike seeing significant activity is the November 45 call, where traders are writing to open positions in the expectation of a short-term ceiling. However, should X continue to run higher -- the shares are up 37% year-to-date -- an unwinding of this pessimism could result in tailwinds.

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 today is microblogging concern Twitter Inc (NYSE:TWTR), as option traders keep the faith on the struggling stock.

It's been a rough couple of days for Twitter Inc, which shed almost 10% yesterday following a poorly received earnings report and subsequent round of bearish brokerage notes. Today, the shares are down 3.6% to churn near $42.19, as a newly inked partnership with International Business Machines Corp. (NYSE:IBM) fails to spark excitement on the Street.

Not everyone is throwing in the proverbial towel on the stock, though. In the options pits, calls are trading at 1.2 times what's typically seen at this point in the day, and per the equity's 30-day at-the-money implied volatility (IV) -- which is up 2% to 44.9% -- short-term contracts are in demand.

Most active is TWTR's November 43 call, where 11,729 contracts have changed hands. The majority of these have traded at the ask price, IV is up 2.3 percentage points, and volume outstrips open interest, making it safe to assume new positions are being purchased. At last check, delta on the call was docked at 0.47, suggesting a roughly 1-in-2 chance the option will be in the money at the close on Friday, Nov. 21, when front-month options expire.

Should Twitter Inc (NYSE:TWTR) fail to reclaim its perch atop $43 by expiration, the most the speculators stand to lose is the initial premium paid. Good news for today's call buyers -- in the wake of Monday night's earnings report, TWTR's Schaeffer's Volatility Index (SVI) fell to 44% from 76%, and is now ranked lower than 87% of similar readings taken in the past year. Simply stated, premium on the stock's front-month options is relatively inexpensive at the moment.

The 20 stocks listed in the table below are the S&P 500 Index (SPX) components that have attracted the highest weekly 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 today is International Business Machines Corp. (NYSE:IBM), where calls are flying off the shelves amid news of a partnership with Twitter Inc (NYSE:TWTR).

As alluded to, International Business Machines Corp. announced it will be collaborating with TWTR on a number of enterprise solutions that will leverage the former's analytics solutions and the latter's social media data. Amid this news, IBM calls are being exchanged at more than twice the usual intraday rate, and outweigh puts 23,000 contracts to 10,000. What's more, the stock's 30-day at-the-money implied volatility (IV) has edged 1.1% higher to 16.5%, signaling elevated demand for short-term strikes.

The two most active options by a mile are the weekly 10/31 165- and 167.50-strike calls, where a collective 8,549 contracts are on the tape. The majority have crossed at or near the ask price, IV is up, and volume outstrips open interest, making it safe to assume fresh bullish bets are being initiated. In short, these buyers expect IBM to topple the respective strike prices by this Friday's close, when the weekly calls expire.

While today's options pits are decidedly bullish, very little has happened on the charts so far. In fact, at last check, International Business Machines Corp. (NYSE:IBM) is up just 0.2% at $163.88, as the shares struggle to recover from last week's post-earnings swoon.

El Pollo Loco Holdings Inc (NASDAQ:LOCO) popped 6.4% yesterday, and short-term options traders took notice. This was especially true on the call side of the fence, where contracts changed hands at a 27% mark-up to the single-day norm. What's more, the stock's 30-day at-the-money implied volatility edged 2.5% higher to 68.6%, underscoring the strong demand for short-term strikes.

Diving into the details, LOCO's three most active options yesterday all expire this Friday night. Specifically, the weekly 10/31 35.50-, 36-, and 37-strike calls saw a total of 1,373 contracts cross the tape -- the majority at the ask price, suggesting they were purchased. Open interest rose overnight at each strike, as well, making it safe to assume fresh bullish bets were initiated -- a theory echoed by Trade-Alert.

By buying the weekly calls to open, the traders anticipate LOCO will finish atop the respective strike prices at week's end, when the series expires. Delta for the 35.50-strike call is 0.59, signifying a 59% chance the option will be in the money at week's end. Meanwhile, delta for the 36- and 37-strike calls is 0.43 and 0.26, respectively.

Looking ahead, El Pollo Loco Holdings Inc (NASDAQ:LOCO) will report third-quarter earnings after the close next Thursday, Nov. 6 -- its second such event since going public in late July. Analysts, on average, are expecting per-share earnings of 12 cents from the restaurant chain. At last check, shares of LOCO -- after rallying out of the gate -- are down 1.5% at $35.86.

Among the stocks attracting attention from options traders lately are mass-discount provider Groupon Inc (NASDAQ:GRPN), alternative energy concern First Solar, Inc. (NASDAQ:FSLR), and Internet issue Yahoo! Inc. (NASDAQ:YHOO). Below, we'll break down how options buyers are positioning themselves, and how much speculators are willing to pay for their bets on GRPN, FSLR, and YHOO.

• GRPN added 1.2% to land at $6.00 on Tuesday, but remains 49% lower year-to-date. In fact, the shares have surrendered more than 10% in October, led lower beneath their 10-day and 20-day moving averages. However, ahead of Groupon Inc's turn in the earnings confessional Thursday night, option buyers have picked up calls over puts at an accelerated clip. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 6.19 stands higher than 77% of all other readings from the past year. However, considering short interest accounts for 22% of GRPN's total available float, it's possible that some of the recent call buying could be attributable to short sellers looking for a short-term options hedge. Whatever the motive, now isn't the best time to pick up GRPN's short-term contracts; the stock's Schaeffer's Volatility Scorecard (SVS) sits at a relatively low 34, suggesting the equity's options have tended to be overpriced during the last year, relative to GRPN's technical movement.


• FSLR soared 5.7% to $57.38 on Tuesday, bringing its year-to-date gain to 5%. What's more, the shares ended north of their 20-day moving average for the first time since mid-September. First Solar, Inc. is scheduled to report third-quarter earnings after the close next Thursday, Nov. 6, and option buyers are gambling on a dip. The equity's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.91 sits just 3 percentage points from an annual peak, pointing to a healthier-than-usual appetite for FSLR puts over calls of late. The security's SVS of 77 indicates that FSLR has tended to make outsized moves on the charts during the past 52 weeks, relative to what the options market has priced in.


• Finally, YHOO jumped 2.6% to finish at $45.85, and followed Alibaba Group Holding Ltd (NYSE:BABA) into new-high territory, peaking at a decade-plus high of $46.15. The shares of Yahoo! Inc. have tacked on 12.5% in October, yet put buying has accelerated on the major exchanges. Specifically, YHOO sports a 10-day ISE/CBOE/PHLX put/call volume ratio of 0.48 -- in the 94th percentile of its annual range. Of course, considering YHOO's ascent -- the stock's 14-day Relative Strength Index (RSI) of 72 sits in overbought territory, suggesting a short-term breather could be in the cards -- some of those puts may have been bought by shareholders looking for options insurance. In any event, now is an opportune time to gamble with YHOO's short-term contracts. The equity's Schaeffer's Volatility Index (SVI) of 34% stands higher than just 29% of all other readings from the past year, suggesting near-term options are attractively priced right now, from a historical standpoint.

Like the broader equities market, Sprint Corporation (NYSE:S) is trading higher today -- up 1.5% to linger near $6.13. Option players are responding in kind, scooping up calls at a rate 1.7 times the average intraday pace. Based on the equity's 30-day at-the-money implied volatility (IV), which is 4.9% higher at 48.8%, short-term contracts are in high demand.

Drilling down, Sprint's weekly 11/7 6.50-strike call has seen the most action by far, with 11,129 contracts on the tape. The majority of the volume occurred when a multi-exchange sweep of 10,383 contracts was bought to open for $0.10 apiece, resulting in an initial cash outlay of $103,830 (number of contracts * premium paid * 100 shares per contract).

This also represents the most the speculator stands to lose, should S be sitting south of $6.50 at next Friday's close -- when the weekly series expires -- a time frame which includes the company's upcoming earnings report. Gains, meanwhile, will accrue with each step above breakeven at $6.60 (strike plus premium paid) the stock takes. Delta on the call is docked at 0.30, suggesting a less than 1-in-3 chance the option will be in the money at expiration.

As touched upon, Sprint Corporation (NYSE:S) is scheduled to unveil its third-quarter earnings report after next Monday's close. Over the past four quarters, the equity has fared well in the session subsequent to reporting, averaging a gain of 3.7%. This runs at a stark contrast to the stock's longer-term technical backdrop, though, with S down 43% year-to-date.

Three stocks seeing notable options activity today are wireless technology firm InterDigital, Inc. (NASDAQ:IDCC), as well as drugmakers Novavax, Inc. (NASDAQ:NVAX) and MannKind Corporation (NASDAQ:MNKD). Here's a look at how today's options traders have been placing their bets on these three names.

• InterDigital, Inc. (NASDAQ:IDCC) has tacked on 3.6% to trade at $46.07, after winning a patent dispute with ZTE. Meanwhile, options are flying off the shelves at eight times the typical intraday clip. Most active is IDCC's November 50 call, as short-term traders gamble on the shares to topple the round-number half-century mark by the close on Friday, Nov. 21, when front-month options expire. Looking ahead, IDCC will issue quarterly earnings results bright and early on Thursday.


• Novavax, Inc. (NASDAQ:NVAX) has plunged 5% to hover near $5.51, just a day after rallying 13% on news that the company will launch early stage trials for an Ebola vaccine in December. Meanwhile, both calls and puts are changing hands at faster than double the expected intraday pace. One of the most active strikes is the December 7 call, as option bulls wager on NVAX to topple the lucky-number level by back-month options expiration -- something it hasn't done since September 2009. Of course, with 15.4% of NVAX's float sold short, it's also possible the long calls are intended to serve as short-term upside insurance.


• MannKind Corporation (NASDAQ:MNKD) is up 4.4% to trade at $6.03, ahead of next Monday afternoon's earnings report. In today's trading, options are being exchanged at double the usual intraday rate, and short-term strikes are in vogue, per the stock's 30-day at-the-money implied volatility, which has spiked 12.5% to 69.8%. Digging deeper, short-term skeptics are selling to open the weekly 11/14 6.50-strike call, anticipating a technical ceiling for the shares over the next couple of weeks. Meanwhile, bullish bettors are rolling the dice on additional gains for MNKD, by buying to open the weekly 11/7 6-strike call.