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Goodyear Tire & Rubber Co. (NYSE: GT) has just seen some very extraordinary options trading today. Normally we might not care, but this is just a day ahead of its quarterly earnings report. We hit seen 25,620 contracts trade in the OCT-2009 $17.50 CALL options. The preceding open interest was only 1,683 and we hit at least 20,000 of those as a buy. That figure looks to be more than every of the open interest of the nearby strike prices combined. As far as how this compares and stands out wildly, the AUGUST-2009 $15.00 CALL options hit traded only 1,510 contracts and that preceding open interest was 2,109. There was only one other CALL that traded actively. That was the JAN-2010 $17.50 CALL, which traded 1,696 contracts versus an open interest of 585 before today.This one azygos extraordinary options trading event is actually far larger than every other PUT and CALL amount activity among every strike prices and every options expiration dates we hit available.
JON C. OGG
JULY 29, 2009
As of NOON EST we have seen some very off state in the Yahoo! Inc. (NASDAQ: YHOO) stock options. We have seen more than the entire open interest of the AUG-$16 CALLS trade hands and it is only NOONEST. This is the state in the AUGUST-2009 CALLS:
Strike.. LAST…volume /Open Interest
$15.00.. $0.80..7,259… 29,464
$16.00.. $0.39..82,151.. 77,586
$17.00.. $0.17..28,327.. 43,205
$18.00.. $0.07..8,939… 42,432
This is more contract state in the $16 CALLS than in the entire PUT matrix…. We have only seen about 32,000 contracts for the entire AUGUST-2009 PUT options with strike prices from $10.00 to $22.00.
This could be some traders commerce their “calls” they owned in hopes of a deal, but much of the state looks like traders making more face bets. If these are face bets, these are so far heading the wrong direction.
Jon C. Ogg
July 29, 2009
Trimble Navigation (Nasdaq: TRMB) shares are trading about 11 proportionality higher to $23.75 on more than 3 times normal volume as of 10:45 a.m. Wednesday. The company missed earnings and revenue expectations, but showed some signs that its engineering and construction business may be stabilizing, and also lost fewer mobile solutions subscribers. — Mike Tarsala
Exelixis Inc. (Nasdaq: EXEL) shares are up more than 3 percent to $6.07 in premarket trading, on volume of about 34,000 shares as of 8:40 a.m. Eastern. There is no news discover on the company, and no known new reports from analysts. Motley Fool mentioned the company rather passively in a story about biotechs being taken out, saying that EXEL is one with “multiple shots on goal”. Of note, Exelixis has a partnership with Bristol-Myers (NYSE: BMY), which bought Medarex Inc. (Nasdaq: MEDX) for a premium last week. At the time, Bristol Myers said it still had the resources for additional deals. — Mike Tarsala