Unusual Options Activity: AAPL, YHOO, MCHP, CHK, and AUY

Weekly calls were hot on Apple Inc. (AAPL) ahead of tomorrow's big product reveal

by Karee Venema

Published on Sep 8, 2015 at 4:41 PM

It was off to the races for U.S. benchmarks today, as speculation swirled that China's dismal economic backdrop could prompt a new round of stimulus measures. Across all 12 options exchanges, 6.4 million calls crossed, compared to 6.0 million puts. The day's put/call volume ratio closed at 0.92.

Apple Inc. (NASDAQ:AAPL) call players were quick to target the weekly 9/11 series ahead of tomorrow's highly anticipated event, while Yahoo! Inc. (NASDAQ:YHOO) saw a rare surge in call volume, despite receiving a negative analyst note. Elsewhere, Microchip Technology Inc. (NASDAQ:MCHP) calls traded at nearly five times the average daily pace -- with the October 44 strike garnering the most attention -- after the company offered upbeat guidance and received some love from the brokerage bunch.

Put players continued to target Chesapeake Energy Corporation (NYSE:CHK), with the contracts crossing at 1.5 times the average daily pace. It looks as if one speculator in particular may have initiated a massive put ratio spread in the October series to bet on move to $6 over the next several weeks. What a difference a day makesYamana Gold Inc. (USA) (NYSE:AUY) tumbled today -- following a price-target cut at HSBC -- and put volume soared to five times what's typically seen.

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