AMZN options report for 07/30/98
AMZN price: 113.750
Options Study for: AUG
put break-even: 105.75 OI = 16590 VOL = 6037
call break-even: 124.74 OI = 18041 VOL = 3722
max. pain: 114.46 R = 0.9 R = 1.6
Options Study for: SEP
put break-even: 98.44 OI = 1704 VOL = 1769
call break-even: 138.99 OI = 1295 VOL = 564
max. pain: 124.98 R = 1.3 R = 3.1
Options Study for: OCT
put break-even: 93.53 OI = 4350 VOL = 235
call break-even: 129.02 OI = 8782 VOL = 302
max. pain: 85.53 R = 0.5 R = 0.8
Options Study for: JAN
put break-even: 88.18 OI = 2656 VOL = 71
call break-even: 140.98 OI = 3369 VOL = 167
max. pain: 99.99 R = 0.8 R = 0.4
net long/short: 0.62 mil.
i.v. for AUG = 0.84
i.v. for SEP = 0.92
i.v. for OCT = 0.89
i.v. for JAN = 0.79
By popular request, I've added the "max. pain" calculation for
each expiration. For August, it sits at 114.50, just a point
above today's close. Let's follow it a while and see if anything
comes of it. Implementation note: I'm looking at strikes that
with 33% of either side of the closing price - the current study
covers strikes from 90 to 150.
Option vols. picked up slightly in the Sept. options, beaking
above 90, and the Oct. options remain strong. The Jan options
are tradng below 80% for the first time that I can remember.
The Sept. options volume remains decidedly bearish in terms
of options volume. However, earlier in the day, around 1PM EST,
the Sept. options looked like this (15 min. delayed):
snapshot, 1PM EST, 7/30/98
Options Study for: SEP
put break-even: 98.64 OI = 1704 VOL = 666
call break-even: 139.20 OI = 1295 VOL = 704
max. pain: 124.87 R = 1.3 R = 0.9
i.v. for SEP = 0.88
The Sept. options put volume tripled in the last
three hours of trade. There was more trading in
puts in Aug. and Oct. as well, but not as much as the Sept's.
What's it mean? No clue.
Note: since the "max. pain" calc. tries to find the level at
which most option buyers lose, it is a contrarian indicator.
That's why the Sept. max. pain level is so high (lots of put
Open Interest), and the Oct. level is so low (lots of call open interest). |
