Most Active Weekly Options: Tesla Motors Inc and Gilead Sciences, Inc.

Short-term options traders have been targeting Tesla Motors Inc (TSLA) and Gilead Sciences, Inc. (GILD)

Jul 14, 2015 at 12:59 PM
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The 20 stocks listed in the table below have attracted the highest total 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. Two names of notable interest are electric automaker Tesla Motors Inc (NASDAQ:TSLA) and drugmaker Gilead Sciences, Inc. (NASDAQ:GILD).


TSLA is riding the broad-market tailwinds higher, tacking on 1% to trade at $264.83. This is more of the same for the shares, which have charted a steady path higher since touching an annual low of $181.40 in late March. What's more, the stock may be resuming its uptrend after consolidating atop its 40-day moving average, following a recent peak in the $280 neighborhood.

Short-term options traders have been focused on TSLA calls over puts, per the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.97 -- which ranks below 83% of comparable readings from the past year. While weekly strikes have been popular, standard July-dated options are popular today, with expiration looming at this Friday's close. Specifically, it looks like buy-to-open activity is taking place at the July 267.50 call.

GILD is sharply higher this afternoon, adding 2.1% to wink at $117. This isn't necessarily a welcome development for recent option buyers. Over the last 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security has amassed a put/call volume ratio of 0.64 -- which sits 1 percentage point from an annual peak. In other words, during the last year, traders have rarely bought to open puts over calls at a faster rate.

In today's options pits, however, calls are the options of choice -- outpacing puts by a 2-to-1 margin. Moreover, the most active strike is the July 120 call, where likely buy-to-open activity is transpiring. In terms of weekly strikes, the 8/14 108 put may be seeing sell-to-open action, as short-term speculators wager on a technical floor over the next month.


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