Here is today's option recap.
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Unusual Option Action
Friday Unusual Option Action
Tuesday’s Option Action – (Recap)
Yesterdays massive rally reversed overnight into today's rout as China's unexpected currency devaluation sparked a sell-off that moved stocks lower and their respective options some 100's of percent.
$AAPL plunged over 5% reversing all of yesterdays gains, something I thought might happen even before the big China news last night. PUT options soared some over 1,000% in reaction the the move.
$GPRO tumbled almost 10% sending PUT options I bought yesterday soaring.
and the unexpected Alphabet restructuring of GOOGL sent it's call options up 1,000%. After a slow start in 2015, GOOGL has had one of its best years in terms of movement.
Let's dig deeper into today's action.
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Monday’s Option Action – (Recap) 8/10/15
Stocks had an impressive rally today which means, of course, that stock options had an even better day. You didn't have to be long late Friday to participate in this rally either... although it didn't hurt to already be positioned for upside.
Two trades I posted in the om private twitter feed this morning moved over 100% each before the day was done.
$TWTR spiked higher out of the gate this morning and continued to rally into the close moving over $2.50 from Friday's lows. A tremendously impressive move for a stock that finally had enough of all the selling and negativity.
There were a host of other huge swings in the option market, as well as some very unusual action. For instance
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Thursdays Option Action
The biotech bubble lost a little air today sending its weekly puts options significantly higher.
$GMCR dropped some 30% after its earnings report leaving some memorable gains in its wake.
From the chat room this morning:
Of course those who traded for a move higher are sitting on worthless options right now. It is the risk and the reward of trading stock options into an earnings report.
Now on to todays option action:
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