Active trading in Google call options ahead of earnings
Active trading in Google call options ahead of earnings. The stock up $5.29 to $1108 and total volume - in both Google and Google Class A (GOOGL) shares - is lopsided at 42K calls and 26K puts. 1.2K GOOGL Nov 1150 calls changed hands. GOOGL Oct 26th 1150 calls, Nov 1050 puts, and Oct 26th 1110 calls are next most active. Meanwhile, the Oct 26th ATM straddle, which expires the day after today's earnings, equals 5% of spot and notably greater than the average daily post-earnings move of 3.2% seen over the past eight quarters. The stock rallied 3.5% to $1248.08 on 7/24 after the last report, but has since lost 11.2%. Increased call activity Thursday suggests some players expect another post-earnings pop later today.