AAPL at a nice round number this Friday?
290 or 280?
Also, when did this weekly options thing start and where can I read about it?
(I gather from a few references I’ve read here that either there are now weekly options expiring or that there is some external mechanism that simulates weekly options, but I really don’t know anything about it. Just want to get informed. Thanks.)
carlmuck 11:57 am on September 21, 2010 606 days ago Reply
With the volume increasing over the last several days, I think that the option strike price effect will be less evident than over the weeks with lower than average volume. That being said, the current open interest for this weeks options are:
280: calls (ITM) – 5930 puts (OTM) – 6429 — Total – 12359
290: calls (OTM) – 8163 puts (ITM) – 808 — Total – 8971
So pressure would be towards $280.
JPWatkins 12:39 pm on September 21, 2010 606 days ago Reply
I believe last week was the traditional OE.
Are there now some options that expire every week?
If so, where can I see information on them?
Thanks.
conshmillo 3:22 pm on September 21, 2010 606 days ago Reply
@jpwatkins
http://www.optionseducation.org/help/faq/weekly_options.jsp
carlmuck 12:52 pm on September 21, 2010 606 days ago Reply
There are both weekly and monthly options on AAPL. CBOE has listings, if you click on THIS LINK (which is also above in my message on the word “are” (this site doesn’t seem to render links.), you can see the option chain listings for Apple.
JPWatkins 1:36 pm on September 21, 2010 606 days ago Reply
Oh, thanks.
I did miss the link. They seem to render only on roll over, and then very subtly.
So the options are issued on Mondays and expire each week on Friday? No wonder I never noticed them.
JPWatkins 1:46 pm on September 21, 2010 606 days ago Reply
Never knew there were weekly options.
I’m confused by the nomenclature on that link (options have lots of confusing minutia.)
The option selections link lists them by expiration and labels them as expiring on
“September 10″ but the note above the table says they expire “September 23″ Which is a Thursday.
Does this mean the weekly options are on a different calendar than the other options? Issued on Fridays and expiring on thursdays? (rather than issued on Mondays and expiring on Fridays?)
JPWatkins 2:29 pm on September 21, 2010 606 days ago Reply
Have there always been weekly options?
sworoc 3:08 pm on September 21, 2010 606 days ago Reply
This is news to me as well, JP. I’m as curious as you are.
conshmillo 3:37 pm on September 21, 2010 606 days ago Reply
So to sum it up, they are very new and being still tested. Only few stocks and ETFs currently have them. They expire every Friday, except for 3rd week of month when regular monthly options expire. During the third week of the month they are not traded at all. That’s why we have not seen weekly pin last week.
Those September options that you see at that link that expire in 3 days are weeklies, as regular September options expired last week. The other ones are October monthlies. If you use TD Ameritrade or ThinkOrSwim, weekly options have a upper case W next to them.
JPWatkins 11:30 am on September 23, 2010 604 days ago Reply
Thanks Consh.
And the link is very helpful.
JPWatkins 5:10 pm on October 5, 2010 592 days ago Reply
So Consh, please be patient with me
At Google Options:
http://www.google.com/finance/option_chain?q=NASDAQ:AAPL
The weekly options appear not to be listed. Is this so?
And at Yahoo:
http://finance.yahoo.com/q/op?s=AAPL+Options
They seem to indicate the options expire on Thursdays (although we know they expire on Fridays from the link you provided.) Also, besides the confusing dates on the “view by expiration” links, they appear to be listing the weeklies mixed in with the monthlies, which seems very confusing to me (perhaps they just haven’t straightened it out yet?) Am I seeing this right? Do you have any other comments that might be helpful or informative?
conshmillo 5:47 pm on October 5, 2010 592 days ago Reply
@jpwatkins
Don’t use neither google nor yahoo for info on weekly options. They are mess. Google lists just date and no values and yahoo lists wrong expiration day on weeklies and no way of switching to monthlies. Use Schaeffer’s Research for weekly option quotes. Schaeffer is to options what is Zack to stocks. Great resource!
http://www.schaeffersresearch.com/streetools/options/option_montage.aspx?ticker=AAPL
caruso2323 12:13 am on October 7, 2010 591 days ago Reply
@conshmillo
I was not impressed at all at the rational used by Zack about its downgrade for Apple… I wonder why would people pay for such a lousy service assuming it is consistent with other stocks…
conshmillo 12:53 am on October 7, 2010 591 days ago Reply
@caruso2323
Zacks’ is not lousy service. Quite opposite. Zacks’ has a very long track record of producing over 30% return a year on stocks! I did not really ever care about Zacks’ upgrades or downgrades, only what matters is the Zacks’ rank which is based on earnings.
JPWatkins 10:52 am on October 6, 2010 591 days ago Reply
Thanks.