Going forward, the unwinding of hedges related to these out-of-the-money puts could provide a tailwind.
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On the put side, the out-of-the-money December 385 strike is the most popular, with 29, 172 contracts open.
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In the front-month series of options, the out-of-the-money November 26 and 27 strikes are most heavily populated.
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Speculative bullish activity is heaviest in the front month, with deep out-of-the-money calls seeing the most volume.
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In the short term, this abundance of out-of-the-money, bearish bets could translate into an options-related foothold for BAC.
Overall, peak front-month put open interest resides at the out-of-the-money November 14 strike, totaling a hefty 75, 196 contracts.
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Other strategists displayed optimism on the gaming stock by selling in- and out-of-the-money put options expiring in August.
Specifically, the VIX continues to be the target of out-of-the-money put selling (to open), paired with overhead call buying.
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Peak call open interest, however, resides at the deep-out-of-the-money October 410 strike, where some 54, 021 contracts lie in wait.
Additionally, another 13, 000 contracts are open at the deep out-of-the-money 65 strike in the front three months of options.
In- and out-of-the-money call selling in the front month may be the work of traders taking profits off the table.
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Nearer-term options players are buying more of the calls exchanged at out-of-the-money strikes as compared to those selling the contracts.
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Speaking of popularity, the most sought after CSCO weekly February call is the out-of-the-money 21 strike, where 23, 335 contracts reside.
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In-the-money calls are popular with buyers positioning for shares to appreciate, while out-of-the-money calls suggest more of a mixed picture.
The out-of-the-money September 14 call is the most popular among options speculators, with open interest resting at 7, 796 contracts.
The heaviest accumulation of calls in the front-month November series can be found at the out-of-the-money 95 strike, numbering 2, 830 contracts.
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June and July contract calls are the most active with in- and out-of-the-money call buying a seemingly popular strategy amongst traders.
Investors eyeing the breathtaking drop in shares of the airline operator snapped up in- and out-of-the-money put options across multiple expiries.
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Options traders positioning for further upside in the near term picked up out-of-the-money call options in the first hour of the session.
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Peak put open interest totals 6, 047 contracts at the out-of-the-money 40 strike, while another 5, 082 puts reside at the November 45 strike.
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To construct a short strangle, the trader sells an equal number of out-of-the-money puts and calls with the same expiration.
Investors hoping Genzyme, the largest maker of drugs for rare genetic diseases, is the acquisition target purchased out-of-the-money call options on the stock.
The majority of the bullish TXN call options are situated at the out-of-the-money 27.50 and 30 strikes in the September and October series.
You construct this strategy by purchasing one out-of-the-money call or put and selling two deeper out-of-the-money calls or puts in the same expiration month.
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Furthermore, peak call open interest for the front three months of options resides at the deep out-of-the-money 70 strike, totaling more than 10, 000 contracts.
Options traders positioning for shares in the name to move higher this week snapped up in- and out-of-the-money weekly calls on the stock today.
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Meanwhile, peak November put open interest numbers 13, 176 contracts at the out-of-the-money 13 strike, while 10, 085 puts are open at the November 15 strike.
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Resistance for the SPX is at the round-number 900 area, which is home to the heaviest out-of-the-money call open interest in the May series.
Peak put open interest totals 22, 617 contracts at the out-of-the-money October 41 strike, while another 14, 747 puts are open at the October 43 strike.
Selling in- and out-of-the-money call options on Marvell Technology Group has been a popular pastime for some pessimistic players recently and today is no exception.
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