Thursday, October 11, 2012

Thurs 10.11 Recap

$GOOG so Google opened at 752.90 and headed up to make the day high of 758.50 by 0940. It seems to have some near-term resistance at that 755 level for whatever reason. 750 seemed to act as bottom end support and it would yo-yo between the two.

$FSLR sold off on the open but rebounded nicely, opening at 21.84 then hitting the day low of 21.50 before rebounding eventually to 22.19.

There was a fair amount of actionable news today, listed in sequential order:

1000hrs: $PXP - huge risk reversal in May 2013. stock ripped from 36.49 to 37.44 right after that trade went through. Paper buys 10,364 of the May 40 calls and sells 10,368 of the May 30 puts for a net debit of 1.35. A trade worth 1.4M

1020hrs: /CL - a pipeline was attacked in Syria, sending /CL from 92.30 to 92.68, then to 92.85 at 1045

1130 hrs: $AAPL - lawsuit overturned, Samsung was now allowed to sell its S3 phone. I didn't think this overturn outcome was priced into the recent few days downswing and expected it to sell off so I had a keen eye on the 630 puts, which I did not end up buying. $AAPL closed at 628.10

$GMCR - $KFT making kcups now, stock tanks from 22.37 to 21.33. That sent the weekly 22 puts from .35 to .90, the stock ended up rebounding about an hour later and closed at 22.33.

Unusual Activity:

$HTZ longer dated calls were flying off the hook on Monday, Tuesday and Wednesday, and the stock spiked 4% today. It was a good for a triple on the Oct 15 calls, from .10 to .35

What I missed:

$FAST earnings, don't know how I missed this. The earnings were solid and the chart was setup for a breakout on the day. The stock opened at about 44.50 and then ripped higher from there to a day high of 47.17. The Oct 45 call went from .45 to 2.17 at 1100.

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