Upside Delight
For those options players racing in on the open yesterday to buy calls and
sell puts, the day ended up to be a winner. This morning’s follow-through is
proving them right to a further degree.Â
The pre-open look showed less than eager call
sellers, but slightly weighted to this side at 60%.
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SUNW |
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JDSU |
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GLW |
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SEBL |
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were ahead of their normal paces. Small orders in JDSU jumped up ahead of its
daily pre-open average by double, although yesterday’s number is still a high
water mark. This is, I’m sure, due to its announced earnings after the close
last night.
By the middle of the first hour, the call selling had accelerated
to a 4:1 pace. Significantly better prices were seen in most of the telecom
related issues, particularly in
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CIEN |
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JDSU |
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RMBS |
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(
JNPR |
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Call selling in
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JDSU |
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INTC |
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Put sellers continue to lead buyers 3:1 in pre-open
accumulation. A few large orders in
(
SEBL |
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(
MRVC |
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PowerRating) may point to increased
activity for the day in these names. At the end of the first hour, sell
orders matched buy orders.
Next week we plan to lay out the parameters for our volume/activity
indicators, as well as begin to show filtered spread selections.