Most Active Weekly Options: Amazon.com, Inc. and Apple Inc.

Weekly options traders have set their sights on Amazon.com, Inc. (NASDAQ:AMZN) and Apple Inc. (NASDAQ:AAPL)

by Karee Venema

Published on Jul 15, 2016 at 10:56 AM
Updated on Jul 15, 2016 at 10:59 AM

The 20 stocks listed in the table below have attracted the highest total weekly options volume during the past 10 trading days. Stocks 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 notable names of interest are retail stock Amazon.com, Inc. (NASDAQ:AMZN) and iPhone parent Apple Inc. (NASDAQ:AAPL).

Most Active Weekly Options July 15

Starting with AMZN, options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have shown a preference for long calls over puts in recent months, per the stock's top-heavy 50-day call/put volume ratio of 1.12. What's more, this ratio ranks in the 60th percentile of its annual range, meaning call options have been bought to open over put options at a slightly faster-than-usual clip.

Drilling down, it looks like standard July options -- which expire at tonight's close -- have been most popular over the past 10 sessions. Among weekly options, however, AMZN's weekly 7/22 760-strike call has seen one of the biggest open interest increases over this time frame. For those buying to open the calls, the goal is for the equity to rally north of $760 by expiration at the close on Friday, July 22.

On the charts, AMZN notched a record high of $757.34 on Tuesday, even with its #PrimeDayFail. While the shares of Amazon.com, Inc. have more recently been seen trading at $736, they remain almost 55% higher year-over-year.

Put buyers have bombarded AAPL's options pits in recent months. At the ISE, CBOE, and PHLX, for instance, the stock's 50-day put/call volume ratio of 0.74 sits just 2 percentage points from a 52-week peak.

Taking a look at the past two weeks' worth of activity, the stock's weekly 7/29 93-strike put has seen a substantial rise in open interest, with 13,044 contracts added. Considering the lifetime of these weekly puts encompasses Apple's Tuesday, July 26, earnings report, those purchasing new positions may be hoping for a repeat of recent history. Today, meanwhile, options traders appear to be buying to open AAPL's weekly 7/22 99-strike call, hoping for a breakout above $99 over the next week.

At last check, shares of Apple Inc. were up 0.1% at $98.92 amid broad-market tailwinds. Longer term, the stock is down 23% year-over-year. This negative price action has had upbeat analysts quickly changing their tune, and just this morning, Barclays lowered its price target on AAPL to $115 from $121. Considering 84% of brokerages still maintain a "buy" or better rating and the average 12-month price target stands at a lofty $123.17, the door is wide open for more bearish brokerage notes -- which could pressure the shares even lower.

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
UAL Ushers in International Flights, Cuts Positions
United Airlines will cut 13 officer positions, even as its international flight activity picks up
Coty Stock Soaring After Yet Another CEO Change
Coty just announced its fourth CEO in less than four years
Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....