Tuesday, October 9, 2012

Tuesday 10.09 Recap

/ES opened at 1448 then closed lower at 1435.

$NFLX opened at about 69.10 then sold off to 67 by 1130, kind of rebounded to almost 68.50 by 1315 then sold off hard the rest of the afternoon when the institutions came in. Both the $NFLX 67.50 and 65 puts ripped on the sell off.

$BIDU opened around 110 then sold off throughout the day before closing at 106.37 after hitting a day low of 105.94. The 110 and 105 puts saw some decent volume with the 110 being good for more than double and the 105 put being good for almost a four timer.

$OC sold off then rebounded, with light volume seen in the October expiry. The big money was buying up the longer dated November calls early, which could have been the impetus for the stocks rebound.

$EW wasn't as lucky as OC to rebound, and ended up selling off throughout the day. The 90 put went from about 3.90 to 6 and the 85 put went from a low of .40 to .85.

$LLY continued its rip from yesterday afternoon, after opening at 51 it climbed straight to the high of 53.55 at 1040. The October 52.5 calls went from trading at .25 to 1.40 on moderate volume.

$WFC - the government announced it was suing $WFC over mortgages, which sent the stock down. The 35 put went from an actionable .40 to .65 and the 34.5 put went from .22 to .40.

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