Unusual Option Action

Tuesday Option Action Recap

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Tuesday's session picked up right where Monday's session left off. Stocks tried to remain aloft despite another collapse of the largest company in the world by market cap.  A price target raise sent $NFLX and its stock options soaring, some well over 1,000%:

Tomorrow should bring more option movement in names such as $DIS and $Z.  Both are trading sharply off their closing prices.  I had some $DIS $120 puts earlier this week those are going to end up being some 600% higher at the open.  On the flip side $Z is up a near $10 post earnings.   Call buyers should be walking away with sizable gains.

Today's Option Action:

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Option Action Recap

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The week might have ended, but it provided some incredible moves, which of course means even more incredible moves for stock options.  Today a 12% move for a stock sent its option up in some instances over 1,600%.  Earnings continue to move stocks in an exaggerated fashion.   We are just a few weeks removed from some of the more incredible gains we have ever seen in the market.  Two weeks ago I was talking about the $GOOGL $600 calls going from $.10 to $102.96.  OR $10 into $10,296 or $100 into $102,960.  Or potentially $1,000 into over  a million dollars.

With volatility plunging ever lower, stock options do not have the premium build up of years ago.  Also with penny increments, and weekly options, pricing power is better than its ever been before.

Some of today's movers

$CCE saw its stock move some 12% higher,  helping to propel its August stock options over 1,000% to the upside.

$EXPE earnings was a mover for its stock and stock options.  The Weekly calls were up over 300%+ in most cases.

$WBAI soared over 20% higher which moved its stock options in an incfredible fashion.  Some strikes were up over 1,000% for August expiration today alone.

Today's unusual option action and activity:

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Wednesday Option Action Recap

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It was another riveting session as stocks rallied to close near the highs of the day.  In it's wake many stock options came to life, while others were sadly put to bed.  There is nothing more emotional in this stock option world than an option giving up it's life for the good of a terrible trade.

YELP

YELP's 25% collapse put many call options to rest today.  It is the risk of buying and holding stock options into an earnings report.  Sometimes they go ballistic, see $GOOGL $.10 to $102.96 move, and other times they simply open the next morning without a bid.  You couldn't pay your worst enemy .01 to take these worthless YELP options off your hands this morning.  From the $30 to $40 strikes the losses ranged from 99.53% to 97.35%.  But for all intents and purposes they were a complete loss for whoever bought them.  But on the other side of the trade, the sellers of those CALL options took the money and ran.

It wasn't all tears in YELP-ville today, as those YELP put buyers were YELPing their way to 1,000% gains.  YELP's price dropped further than even the option market was prepared for as PUT weekly strikes were capped at $25.  YELP was in the $23's at some points today.  YELP it up PUT buyers.  Congratulations:

$CYT

There were other big moves today.  One stock in particular $CYT soared 27%.  It's options were exponentially more excited, putting in an over 8,000% gain on the $65 strike.

$GMCR

Positive analyst commentary led to a rally for $GMCR.  A stock JB has been an owner of options in recently.  $GMCR options went OFF THE CHAIN, today up over 300%+:

These $74 calls from two days ago at $.25 went over $2.50 this morning.

$GMCR WEEKLY CHAIN

Now lets get into that fantastic option action:

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