Open Interest – August Week 2

So as not to fill your stream with tons of open interest this Sunday (don’t know if I will do it every week), I am combining the high beta open interest charts here.  I will update SOME of them on twitter/stocktwits throughout the week. I don’t know which ones I will continue to update and which I will skip, but as I usually do, I will make an effort to post popular ones even if I’m not using them. Note, if you have comments or questions I will respond much quicker if reply on twitter rather than comment on this blog.

SPY – too early to try to gauge a pin because highest open interest will likely change the first couple days of the week. However you can take note that once again the highest OI is on the put side – currently at 168 with 169 not too far behind.

AAPL – similar to last week, if you are bullish what you want to see is for AAPL stay solidly over 460 (the highest OI) in the beginning of the week. This will push the highest OI out to a higher strike giving AAPL more room to run. The fact that it was able to close over the highest OI of 460 on Friday definitely shows immense strength that I expect to continue. 465 is also a technical spot or resistance that will be significant if it gets over.

AMZN – 295 is the highest OI on the put side and 315 on the call side. Risk/reward is to the upside and 295 ‘should’ provide a wall of support as long as their is no major market meltdown next week.
CMG – This stock is one of the most reliable pins. Risk/reward is to the upside. It will likely get and stay over 415 early on in the week. If not then 405 will definitely provide a good backstop (meaning if it happens to get there it is a good r/r buy). Currently 425 is is the highest call OI. If it gets over it early in the week then it has more upside. If not then 425 will likely act as a brick wall.
GOOG – Not always a reliable pin, but can hep provide guidance if volume on OI is high enough. 900 and 920 are currently the highest OI’s. Since it closed at 906.57 it may just stay range bound. If I had to give a bias other than neutral it would be to the downside.
LNKD – 230 and 240 are the highest OI’s. With market strength this will likely shift early on in the week. If it doesn’t shift by Wednesday, then odds increase that it will stay range bound as it consolidates.
NFLX – It has remained range-bound and within its highest put and call OI for weeks. Again it looks as if it could be trapped. Best case scenario is it breaks below 235 or above 250 early in the week to shift the highest OI. My bias if it doesn’t stay range bound would be to the upside.
PCLN – earnings are on Thursday so for now the OI doesn’t mean much; however, just to gauge sentiment there is more call side action than put side. 900 and 930 being most significant so far.
V – lots of speculation this week (including by me) that V got oversold off the ruling in favor of retailers (you can view ruling info here). 180 to 190 is the current OI risk range. 190 will likely be major resistance (if it even gets there) as long as there remains uncertainty over how debit fees will change.
TSLA – earnings on Wednesday, which again means the current OI is less significant. 133 is the highest put OI, which is surpassed by the call OI of 135.


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  1. fas says:

    I was wondering how do you use this OI info in your trading? Buy calls/puts or sell them around those points?