ASF - Call Buyer Sneaks in Pre-Earnings

Discussion in 'Options' started by livevol_ophir, Apr 27, 2010.

  1. livevol_ophir

    livevol_ophir ET Sponsor

    ASF is trading 22.35 with IV30&#8482 up 26.1% points to 51.

    <img src="http://4.bp.blogspot.com/_hMry1m7UF10/S9cgwAy-zpI/AAAAAAAACD4/hF_ytqzmupg/s1600/asf_summary.gif">

    The company has traded over 5,500 options today on total daily average volume of just 231. All but 23 contracts have been calls for a 242:1 call:put ratio. The Stats Tab and Day's biggest trades snaps are included (in the article).

    The Options Tab (in the article) illustrates that the action is the May 25 calls - trading over 4600x on 492 open interest - these are opening trades (mostly purchases). Notice that other than one 1,100 print, the rest of the trades are small... sh...

    The Skew Tab snap is included (in the article). You can see the front month upside bent upward from the call purchases. If you want to get long, maybe the back months look better at this point. Keep in mind, earnings are a week away so vol could go higher.

    This is trade analysis, not a recommendation.

    Details, prices, trades, skews, charts here:
    http://livevol.blogspot.com/2010/04/asf.html