Stocks With Heavy Options Trading: SPY, AAPL, MSFT, ORCL, IBM, HPQ

Wall Street

The stock market is up slightly heading into midday trading today. News of new home sales dipping sent stock briefly negative shortly after market open. The price of oil continues to rise today and is nearing $109/barrel. The main cause to oil’s recent rise is the tensions between Iran and Western countries. Iran has recently ceased exporting oil to Britain and France. Europe had already imposed sanctions against Iran to stop importing their oil, but they were not going to go into effect until this summer. The Dow is up 23 points right now, the Nasdaq has gained 11 points and the S&P 500 is up 5 points.

SPDR S&P 500 ETF (NYSEARCA:SPY) is up 0.35% today at $137.11. SPY is an ETF that moves in conjunction with the S&P 500. If the S&P rises, and works the same way when it falls. SPY is seeing a lot of action today on the Feb 24 weekly contract at $136 strike price. Over 48,500 contracts have been traded so far today and are up $0.27 from the previous close at $1.17. The March 2 weekly contract at $137 strike price is also seeing decent volume with more than 48,000 contracts trading hands.

Apple Inc. (NASDAQ:AAPL) is up 0.81% in midday trading at $520.53. AAPL shares are up more than $100 a share since the start of the year. Feb. 24 weekly option contracts at $520 has seen more than 26,000 contracts trade hands. These options are up $0.15 today at $1.25. Contracts at $515 strike price are up $2.28 at $5.68 today with volume of 11,300.

Microsoft Corporation (NASDAQ:MSFT) is up 0.19% today at $31.43. MSFT shares have jumped more than $4 a share since the start of the year as most stocks have enjoyed the market wide rally over the past few months. MSFT options for March 17 are seeing the most volume today with 7,800 contracts traded at $31 strike price so far today. These contracts are currently trading at $0.79, up $0.02 from the previous close.

Oracle Corporation (NASDAQ:ORCL) is up 2.12% today at $29.42. ORCL shares have jumped $3 a share this year. Feb 24 contracts at strike price $29 have seen a lot of volume today. Over 5,000 contracts have been traded at that price so far today. These contracts are currently up $0.32 today at $0.42.

International Business Machines (NYSE:IBM) is up 0.14% in midday trading at $197.95. IBM’s March 4 weekly contract is seeing the most volume today at strike price $200. Nearly 4,000 contracts have been traded at that price today and is currently trading at $0.85. IBM shares are up more than $15 a share from its low this year.

Hewlett-Packard Company (NYSE:HPQ) is down 1.22% today at $26.72. HPQ contracts at strike price $27 are getting hammered today and are down $0.19 at $0.03. More than 3,100 contracts have changed hands so far today. March monthly options have also seen a lot of volume today with more than 1,000 contracts trade at $27,$28 and $29.

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About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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