Yahoo! Options See Explosive Volume (YHOO)

Posted in General 
July 29th, 2009

As of NOON EST we have seen some very off activity in the Yahoo! Inc. (NASDAQ: YHOO) stock options. We have seen more than the entire open interest of the AUG-$16 CALLS trade hands and it is only NOONEST. This is the activity in the AUGUST-2009 CALLS:

Strike.. LAST…volume /Open Interest
$15.00.. $0.80..7,259… 29,464
$16.00.. $0.39..82,151.. 77,586
$17.00.. $0.17..28,327.. 43,205
$18.00.. $0.07..8,939… 42,432

This is more contract activity in the $16 CALLS than in the entire PUT matrix…. We have only seen about 32,000 contracts for the entire AUGUST-2009 PUT options with strike prices from $10.00 to $22.00.

This could be many traders selling their “calls” they owned in hopes of a deal, but much of the activity looks like traders making more upside bets. If these are upside bets, these are so far heading the wrong direction.

Jon C. Ogg
July 29, 2009

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