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2021-12-28
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Unusual Options Activity On Microsoft With Potential $6M Bet<blockquote>微软出现不寻常的期权活动,潜在赌注为600万美元</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":696696890,"tweetId":"696696890","gmtCreate":1640676259470,"gmtModify":1640676259992,"author":{"id":3586596744781365,"idStr":"3586596744781365","authorId":3586596744781365,"authorIdStr":"3586596744781365","name":"AliPharma","avatar":"https://static.tigerbbs.com/4ae50feeb2edce44d991e8e753fb37e5","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":10,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>ok</p></body></html>","htmlText":"<html><head></head><body><p>ok</p></body></html>","text":"ok","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/696696890","repostId":1146732680,"repostType":4,"repost":{"id":"1146732680","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1640674601,"share":"https://www.laohu8.com/m/news/1146732680?lang=zh_CN&edition=full","pubTime":"2021-12-28 14:56","market":"us","language":"en","title":"Unusual Options Activity On Microsoft With Potential $6M Bet<blockquote>微软出现不寻常的期权活动,潜在赌注为600万美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146732680","media":"Benzinga","summary":"Microsoft Corp is up almost 2% on the day with below average shares being traded on the day, yet the","content":"<p><b>Microsoft Corp</b> is up almost 2% on the day with below average shares being traded on the day, yet there's unusual options activity along with a potentially large bet.</p><p><blockquote><b>微软公司</b>当天上涨了近2%,当天的股票交易量低于平均水平,但期权活动异常,以及潜在的大额押注。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ed4720ad57521dd478686223002bc2c2\" tg-width=\"685\" tg-height=\"375\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Share volume is muted at over 13 million shares versus the 10-day average of 30 million. However, on the options side, there are over 284,000 traded today, which represents over 11% of the OI (open interest) prior to today (image below).</p><p><blockquote>股票交易量略低于1300万股,而10天平均水平为3000万股。然而,在期权方面,今天的交易量超过284,000笔,占今天之前OI(未平仓合约)的11%以上(如下图)。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18a09d2c5e0458b04c0d602aa6870dcd\" tg-width=\"1001\" tg-height=\"279\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> But what really sticks out is the particularly large option bet for the Mar. 18 (2022) expiry, with one trader buying 2000 calls and 2000 puts at the $340 strike (image below).</p><p><blockquote>但真正引人注目的是3月18日(2022年)到期的特别大的期权押注,一名交易员以340美元的执行价买入了2000份评级和2000份看跌期权(如下图)。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/430c0242ecbf3f3468753ce61acfb898\" tg-width=\"971\" tg-height=\"86\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The 2000 calls and puts at the $340 strike most likely represent a straddle, but the question is are they buying the straddle or are they selling the straddle.</p><p><blockquote>2000年评级和340美元执行价的看跌期权很可能代表跨式期权,但问题是他们是买入跨式期权还是卖出跨式期权。</blockquote></p><p> <b>Why It Matters:</b> If the trader bought the straddle (meaning they bought the $340 calls and $340 puts) it means they spent over <b>$6 million dollars</b> in debit to make this trade. It also means they are expecting volatility to increase between now and the Mar. 18 expiry enough to push the price either up or down by more than $32 (which is the relative costs for the calls and puts collectively).</p><p><blockquote><b>为什么重要:</b>如果交易者购买了跨式期权(意味着他们购买了340美元的评级和340美元的看跌期权),则意味着他们花费了超过<b>600万美元</b>借方进行这笔交易。这也意味着他们预计从现在到3月18日到期,波动性将会增加,足以推动价格上涨或下跌超过32美元(这是评级和看跌期权的相对成本)。</blockquote></p><p> If the trader bought the straddle, they are expecting Microsoft to close either up more than $32 from the current price around $340, or lower than $32 from the current $340 price.</p><p><blockquote>如果交易者买入跨式期权,他们预计微软收盘价要么比当前340美元左右的价格上涨超过32美元,要么比当前340美元的价格下跌32美元。</blockquote></p><p> If however the trader sold the straddle, they'd be expecting volatility to decrease between now and the Mar. 18 expiry, hence the stock would need to close below $372 or above $308 to make a profit.</p><p><blockquote>然而,如果交易者卖出跨式期权,他们预计从现在到3月18日到期之间波动性会下降,因此该股需要收盘价低于372美元或高于308美元才能获利。</blockquote></p><p> It should be noted, selling a straddle with this many contracts would require approximately $20 million in margin to hold.</p><p><blockquote>应该指出的是,出售拥有如此多合约的跨式期权需要持有大约2000万美元的保证金。</blockquote></p><p> <b>What's Next:</b> Currently the market is pricing in the probability of the stock closing between $308 and $372 to be approximately 56%. Implied volatility for the ATM (at-the-money) Mar. 18 contracts are currently at 47% while the Jan. 21 expiry is at 45%, so the volatility term structure is in relative contango.</p><p><blockquote><b>下一步是什么:</b>目前市场预计该股收盘价在308美元至372美元之间的概率约为56%。ATM(平值)3月18日合约的隐含波动率目前为47%,而1月21日到期的合约为45%,因此波动率期限结构处于相对溢价。</blockquote></p><p> With the Mar. 18 expiry implied volatility at 47%, it means the market is currently pricing an increase in volatility between now and then, which may suggest the trader is long the straddle. It should be noted earnings are coming out for Microsoft on Jan. 24 which may create a volatility increasing event should there be a surprise up or down.</p><p><blockquote>由于3月18日到期的隐含波动率为47%,这意味着市场目前预计从现在到那时波动率会增加,这可能表明交易者做多跨式期权。值得注意的是,微软将于1月24日公布财报,如果出现意外上涨或下跌,可能会造成波动性增加的事件。</blockquote></p><p> If however the earnings are flat with no new forward guidance, the stock could see a drop in volatility, thus making the short straddle more viable.</p><p><blockquote>然而,如果盈利持平且没有新的前瞻性指引,该股的波动性可能会下降,从而使空头跨式交易更加可行。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Unusual Options Activity On Microsoft With Potential $6M Bet<blockquote>微软出现不寻常的期权活动,潜在赌注为600万美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUnusual Options Activity On Microsoft With Potential $6M Bet<blockquote>微软出现不寻常的期权活动,潜在赌注为600万美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-12-28 14:56</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Microsoft Corp</b> is up almost 2% on the day with below average shares being traded on the day, yet there's unusual options activity along with a potentially large bet.</p><p><blockquote><b>微软公司</b>当天上涨了近2%,当天的股票交易量低于平均水平,但期权活动异常,以及潜在的大额押注。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ed4720ad57521dd478686223002bc2c2\" tg-width=\"685\" tg-height=\"375\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Share volume is muted at over 13 million shares versus the 10-day average of 30 million. However, on the options side, there are over 284,000 traded today, which represents over 11% of the OI (open interest) prior to today (image below).</p><p><blockquote>股票交易量略低于1300万股,而10天平均水平为3000万股。然而,在期权方面,今天的交易量超过284,000笔,占今天之前OI(未平仓合约)的11%以上(如下图)。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18a09d2c5e0458b04c0d602aa6870dcd\" tg-width=\"1001\" tg-height=\"279\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> But what really sticks out is the particularly large option bet for the Mar. 18 (2022) expiry, with one trader buying 2000 calls and 2000 puts at the $340 strike (image below).</p><p><blockquote>但真正引人注目的是3月18日(2022年)到期的特别大的期权押注,一名交易员以340美元的执行价买入了2000份评级和2000份看跌期权(如下图)。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/430c0242ecbf3f3468753ce61acfb898\" tg-width=\"971\" tg-height=\"86\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The 2000 calls and puts at the $340 strike most likely represent a straddle, but the question is are they buying the straddle or are they selling the straddle.</p><p><blockquote>2000年评级和340美元执行价的看跌期权很可能代表跨式期权,但问题是他们是买入跨式期权还是卖出跨式期权。</blockquote></p><p> <b>Why It Matters:</b> If the trader bought the straddle (meaning they bought the $340 calls and $340 puts) it means they spent over <b>$6 million dollars</b> in debit to make this trade. It also means they are expecting volatility to increase between now and the Mar. 18 expiry enough to push the price either up or down by more than $32 (which is the relative costs for the calls and puts collectively).</p><p><blockquote><b>为什么重要:</b>如果交易者购买了跨式期权(意味着他们购买了340美元的评级和340美元的看跌期权),则意味着他们花费了超过<b>600万美元</b>借方进行这笔交易。这也意味着他们预计从现在到3月18日到期,波动性将会增加,足以推动价格上涨或下跌超过32美元(这是评级和看跌期权的相对成本)。</blockquote></p><p> If the trader bought the straddle, they are expecting Microsoft to close either up more than $32 from the current price around $340, or lower than $32 from the current $340 price.</p><p><blockquote>如果交易者买入跨式期权,他们预计微软收盘价要么比当前340美元左右的价格上涨超过32美元,要么比当前340美元的价格下跌32美元。</blockquote></p><p> If however the trader sold the straddle, they'd be expecting volatility to decrease between now and the Mar. 18 expiry, hence the stock would need to close below $372 or above $308 to make a profit.</p><p><blockquote>然而,如果交易者卖出跨式期权,他们预计从现在到3月18日到期之间波动性会下降,因此该股需要收盘价低于372美元或高于308美元才能获利。</blockquote></p><p> It should be noted, selling a straddle with this many contracts would require approximately $20 million in margin to hold.</p><p><blockquote>应该指出的是,出售拥有如此多合约的跨式期权需要持有大约2000万美元的保证金。</blockquote></p><p> <b>What's Next:</b> Currently the market is pricing in the probability of the stock closing between $308 and $372 to be approximately 56%. Implied volatility for the ATM (at-the-money) Mar. 18 contracts are currently at 47% while the Jan. 21 expiry is at 45%, so the volatility term structure is in relative contango.</p><p><blockquote><b>下一步是什么:</b>目前市场预计该股收盘价在308美元至372美元之间的概率约为56%。ATM(平值)3月18日合约的隐含波动率目前为47%,而1月21日到期的合约为45%,因此波动率期限结构处于相对溢价。</blockquote></p><p> With the Mar. 18 expiry implied volatility at 47%, it means the market is currently pricing an increase in volatility between now and then, which may suggest the trader is long the straddle. It should be noted earnings are coming out for Microsoft on Jan. 24 which may create a volatility increasing event should there be a surprise up or down.</p><p><blockquote>由于3月18日到期的隐含波动率为47%,这意味着市场目前预计从现在到那时波动率会增加,这可能表明交易者做多跨式期权。值得注意的是,微软将于1月24日公布财报,如果出现意外上涨或下跌,可能会造成波动性增加的事件。</blockquote></p><p> If however the earnings are flat with no new forward guidance, the stock could see a drop in volatility, thus making the short straddle more viable.</p><p><blockquote>然而,如果盈利持平且没有新的前瞻性指引,该股的波动性可能会下降,从而使空头跨式交易更加可行。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146732680","content_text":"Microsoft Corp is up almost 2% on the day with below average shares being traded on the day, yet there's unusual options activity along with a potentially large bet.\n\nShare volume is muted at over 13 million shares versus the 10-day average of 30 million. However, on the options side, there are over 284,000 traded today, which represents over 11% of the OI (open interest) prior to today (image below).\n\nBut what really sticks out is the particularly large option bet for the Mar. 18 (2022) expiry, with one trader buying 2000 calls and 2000 puts at the $340 strike (image below).\n\nThe 2000 calls and puts at the $340 strike most likely represent a straddle, but the question is are they buying the straddle or are they selling the straddle.\nWhy It Matters: If the trader bought the straddle (meaning they bought the $340 calls and $340 puts) it means they spent over $6 million dollars in debit to make this trade. It also means they are expecting volatility to increase between now and the Mar. 18 expiry enough to push the price either up or down by more than $32 (which is the relative costs for the calls and puts collectively).\nIf the trader bought the straddle, they are expecting Microsoft to close either up more than $32 from the current price around $340, or lower than $32 from the current $340 price.\nIf however the trader sold the straddle, they'd be expecting volatility to decrease between now and the Mar. 18 expiry, hence the stock would need to close below $372 or above $308 to make a profit.\nIt should be noted, selling a straddle with this many contracts would require approximately $20 million in margin to hold.\nWhat's Next: Currently the market is pricing in the probability of the stock closing between $308 and $372 to be approximately 56%. Implied volatility for the ATM (at-the-money) Mar. 18 contracts are currently at 47% while the Jan. 21 expiry is at 45%, so the volatility term structure is in relative contango.\nWith the Mar. 18 expiry implied volatility at 47%, it means the market is currently pricing an increase in volatility between now and then, which may suggest the trader is long the straddle. It should be noted earnings are coming out for Microsoft on Jan. 24 which may create a volatility increasing event should there be a surprise up or down.\nIf however the earnings are flat with no new forward guidance, the stock could see a drop in volatility, thus making the short straddle more viable.","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":2909,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/696696890"}
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