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Oracle Corp. (NASDAQ: ORCL) just had a trader buy 10,000 December $24 calls at the offer, shares recovering off days lows here and $22.75 a big resistance level. Earlier this morning more than 18,000 November $23 calls traded, some closing positions, but indications from order flow show the calls were being bought, many to open. Oracle has already traded 38,000 calls on the day, twice the daily average, and more than half at the offer. In comparison, only 6,800 puts have traded. Oracle implied volatility is up 13% on the day, from 24% to 26%, a rather large move in the Large Cap Tech Stock. Oracle will host an Investor Conference on October 27th, likely the reason for the bullish positioning. (12:05 PM EST)
UPDATE AT 12:15 PM EST: “another 10K of those Dec 24’s just bought in ORCL.”
-Brought exclusively by OptionsHawk.com
Freddie Mac (NYSE: FRE) disclosed in an SEC Filing this morning that its mortgage delinquencies continued to rise in September. Both Freddie Mac Fannie Mae (NYSE: FNM) were forced into conservatorship last year by Uncle Sam, and this does not offer much hope of a charge in that status. Freddie disclosed September delinquencies on single-family residences at 3.33%. That is up from 3.13% in August and up much more sharply from the year ago reading of 1.2%. It also showed that the portfolio rose by $4.8 billion after three consecutive monthly declines to a new level of $784.17 billion. The change is said to be due to mortgage-backed securities held. It also disclosed that the refinance-loan purchase volume fell down to $21.4 billion from $35.6 a month ago. At 8:55 AM EST we actually have shares trading up less than 1% at $1.38 on only about 350,000 shares. This news has yet to make the rounds. -JON OGG