Friday 10.05 Recap

$STZ opened around 35.30 and hit a high of 36.50 around 1030. The Oct 35 call opened at 1.25, hit a low of .85 then hit a high of 1.7 around 1020. I really wanted to sell a put spread into earnings, but there was no 32.5 strike to use.

$ZNGA opened at 2.30, hit a low of 2.23 by 1000 then slowly crept up to 2.35 around 1500, then got pinned to 2.50 by market close on heavy volume. The weekly 2.50 put opened at .20 and hit a high of .28 before getting crushed as the stock rebounded. The 2.00 call opened at .26 and hit a high of .47 on super light volume.

$FB Opened at 21.50, sold off quick to 21.20, rebounded to 21.50 then hung around the 21.40 area before touching the 21.50 mark again at 1300. It then was pegged to 21.40 until 1400 where it just got shelled in a sell off. I'm assuming this happened after the weekly contracts were unwound at 1400 so there was nothing tying the stock down at that point in time, hence the free fall. The weekly 21.5 put opened at .14 and ripped up to .45 right off the bat. It then traded around the .20 area before ripping up to .60 by 1500 on the huge sell off.

$AAPL took a knock off the Samsung news basically saying that Samsung isn't as threatened by Apple as it's been made out to be. The stock sold off hard from 664 to a low of 652 and then it ripped back up to 660 at 1300, before selling off to close at 652. I was tempted to buy the $655 call when the stock was trading around the 654 area, figuring the stock would gravitate back toward the 660 strike at some point... which is exactly what happened. On expiry days, I look to trade either the ITM option or the next closest OTM option due to the vicious nature of expiry time decay.

$GOOG opened at 771 then ripped toward 774 where it sold off to 768. The 775 put went from a low of 2.25 to a high of 9.70 toward market close. GOOG was trading at 770 right around 1300.

$SPY opened at 146.80, hit a high of 147.16 then floated around the 146.80 mark for most of the day and hit a low of 145.70. after 1530.

Moral of the $FB, $AAPL, $GOOG and $SPY story is that they all had a tendency to gravitate toward the strike with the highest OI for those contracts to be unwound/closed out. And then when they hit that strike, they tend to regress back toward wherever the day's momentum was steering them. Small sample size, so take this information and proceed with caution.

$FSLR caught a downgrade which sent the shares selling off, triggering a short-sale circuit breaker. It trended lower throughout the day. The puts were on fire as the stock opened lower at 21.88 and sold off to 19.68. The 21.50 put opened at .15 and ripped up to 1.72, the 21 put opened at .08 and ripped to 1.32.

$LYV had another 5k added to the Oct 7.5 put OI.