Friday, September 21, 2012

Pre mkt trade ideas 9.21

As always, these are subject to change at any point. But here's what I'm watching and it's not too much:

$KORS raised guidance this AM, conveniently for all those call buyers from a day earlier. I'll be watching the Sept 55 call activity. I didn't do an OI chart for $KORS, but the $55 calls have the most calls sitting in OI at 4285. There's 1900 at 50 and just under 1000 at 60.

$VVUS has news in that it's weight loss drug may be denied over in Europe, but I'm hard pressed to trade that due to the surge in volatility I'm expecting.

$AAPL will be one to watch, currently trading at 704ish in the pre-mkt. It has the iPhone 5 out today in stores. It got pushed above max pain last week on the iPhone 5 news, so I'm hard pressed to bet against it today is it trades above max pain at 700. However, there is a huge amount of call interest sitting at that 700 strike... Maybe a 700 put butterfly and hold it to the afternoon.

$GOOG's max pain appears to be at the $700 strike, with the next largest number of contracts at the $730 call and it's trading at $733.

$FB has max pain at 22 with over 40k calls expiring today sitting in OI.

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