Wednesday, June 13, 2007

The Options Screener

I watched a 2 hour double feature of Ghost Hunters tonight on the Sci Fi channel and fell a bit behind in getting this post up. I lived in a very haunted 115 year old house back in the early 1990s, so the Ghost Hunters show is of interest, but that's another story for another time - maybe around Halloween.

As usual, I present my Option Screener information free of charge and for informational purposes. The Screener and this post is not a recommendation to buy, sell, short any security.

Some interesting stuff popped up today:

There was heavy trading in AU Optronics' (AUO) options following this early Wednesday morning report: UPDATE 1-Taiwan's AU eyes return to profit in Q2.

Ahead of earnings Thursday, Bear Stearns (BSC) options were active. And the confidence shown by the bulls to buy June options which expire on Friday was noteworthy. Not only did more than 5,000 June 150 trade, but more than 4,000 June 155s also traded - talk about cutting it close.

Citigroup (C) and Consul (CNX) appear to be spreads, so no comment.

There was no news on Equity Residential (EQR), but a pop in its soon to expire June45 calls.

iShares:FTSE/Xinhua (FXI) appears to be a strangle play with the 7500 call options on the 125 strike, but 7500 options trading on the 105 July put strike.

General Dynamics (GD), a variety of buys and sells on that strike.

Merck (MRK) could be someone positioning for earnings or other news ahead of July expiration.

Airline puts and calls trading remains very active with the Screener picking up Northwest (NWA) call options activity.

iShares:Lehm 20+ Trs (TLT) has been a popular play for those who feel bonds are oversold.

VIX July 22.5 is certainly an interesting bet that the market is going to get splattered at some point between now and expiration in July.

I also threw a few put trades up.

The BHP put activity notable on no news. Could it be positioning in case they make a large bid for a competitor?

WR Grace (GRA), at first it looked like a roll from June to September, but then big buys of December puts also crossed.... something to watch.

CNX again with heavy activity on the put side as well.

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