/ES opened at about 1440 and closed at about 1445.
$C had traded down in the pre-mkt, however the price rebounded toward the open. Shortly after opening, the option flow was very bullish with far more calls being bought and puts sold than vice versa. The weekly 37 call opened at about .30 hit a high of .78, sold off to .36 at 1050 then rebounded to .65 at 1300.
$GS sold off on the open to 123.25 then rebounded to 125.88 by 1125 only to crash at 1400 to a low of 122.40. The 120 put went from an actionable .20 to .40 and the 125 put went from 1.70 to 2.80.
$AAPL had news that moved it today. At about 1030hrs news came that Apple would be releasing its mini-tablet, and shortly after that $MSFT announced its tablet. Everyone thought $MSFT tablet would price at $199, but it's priced at $499 which is good news for Apple. This sent the stock up to 650. The 645 call went from 2.30 to a high of 9.70
I noted a day earlier a huge pickup in $TRV 70 calls expiring this week when the stock was trading at 68 and change. Sure enough, it traded to 71.09 today.
I lifted the commentary from riskreversal.com but saw the same trades go through:
LYB – Someone bought more than 50k of the Nov 57.5 / 60 call spread paying 0.60 and 0.65 between 12 and 1pm. Commentary from GS analysts that ethylene prices could rise further given constrained production capacity. That one spread doubled the open interest in the name.
WLK – Since we’re on the topic, WLK in same space as LYB, and also doubled its open interest, with the Apr 70 / 80 risk reversal (likely buying call) the most traded print.
However, I will add that these names were being bought up due to a court ruling that may allow chemical manufacturers to become REITs, somehow.
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