$35 Options and TIE
About 2 weeks ago I mentioned that there seemed to be a bizarre monthly ritual with TIE.
By options expiration day, TIE seems to hit the exact strike price of the majority of options.
This month, that popular strike price is $35. Options expire tomorrow and - wow! -TIE is almost exactly at $35. Of the total April Puts/Calls, 9,500 out of 17,600 are for a $35 strike price (6,000 are for $40 and $45).
Now, that may not seem strange considering that TIE lately has been bouncing between $31 and $37. A $35 strike price is the natural place for the bulk of options. I don't disagree. What I find remarkable is the way it seems to hit that number exactly and exactly on options expiration days.
Feb 16th $35.35
TIE then raced up to $38, only to fall back down
March 16th $33.47
TIE then raced up to $37, only to fall back down again to
April 19th ~$35
Based on this paranoia, I would expect TIE to run up starting next week.
Another interesting point: puts are moving up in favor over the next few months. The call/put ratio is asfollows: 3:1 April, 2.5:1 May, 1:1 June.
By options expiration day, TIE seems to hit the exact strike price of the majority of options.
This month, that popular strike price is $35. Options expire tomorrow and - wow! -TIE is almost exactly at $35. Of the total April Puts/Calls, 9,500 out of 17,600 are for a $35 strike price (6,000 are for $40 and $45).
Now, that may not seem strange considering that TIE lately has been bouncing between $31 and $37. A $35 strike price is the natural place for the bulk of options. I don't disagree. What I find remarkable is the way it seems to hit that number exactly and exactly on options expiration days.
Feb 16th $35.35
TIE then raced up to $38, only to fall back down
March 16th $33.47
TIE then raced up to $37, only to fall back down again to
April 19th ~$35
Based on this paranoia, I would expect TIE to run up starting next week.
Another interesting point: puts are moving up in favor over the next few months. The call/put ratio is asfollows: 3:1 April, 2.5:1 May, 1:1 June.
posted by Andrew at
11:48 AM
1 Comments:
If you notice its same with TRID as well. TRID goes to 22.50 before expire date and then goes back to 19 to 20. this is happening since last 5 months.
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