Focus Stories
DISH 39.6K Dec 21 calls traded at the 45 cent ask price. Looks like an opening buyer. About a minute earlier, two blocks (9,900) totaling 19.8K of Dec 17 put traded at $1.295. These puts were sold, according to a floor broker, delta neutral. This 1x2 ratio spread would benefit from an increase in implied volatility (the price of options), generally, but it would also make money if the stk drifted to $17 by December expiration as it appears the initiating interest collected ~750k in premium and is short stk.
INTU touched a 52 week high, stk sharply higher off earnings and traded nearly 12x avg daily volume in options. Most active were the Oct 37.5 puts 8,321 traded opening.
CRM traded ~11x avg daily options volume, 52 week high touched, stk up sharply post-earnings, much of that volume appeared to be related to profit taking in the underlying (The Aug 110 calls and puts for example, although opening have already expired). The most active September options, 100 puts and 110/115 calls appear to be positioning for the stock to take a breather, or even pull back.
