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Options in Motion: Googling Expiration

Traders square positions ahead of the close when equity options expire. Plus, Marvell looks good.
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Midday option trading has been very quiet on this expiration Friday.

The CBOE Market Volatility Index (VIX), technically a measured of implied volatility based on the S&P 100 (OEX) options but a commonly used gauge of fear in the market, was recently down 4.4% to 12.83. Meanwhile, the CBOE Nasdaq Volatility Index, which measures the implied volatility of the Nasdaq 100, was down 1.77% to 15.02.

Nextel Partners


saw unusual option activity in February after

Sprint Nextel Corp

(S) - Get SentinelOne, Inc. Class A Report

said on Wednesday that it will pursue an

appraisal process for the wireless carrier instead of negotiating an acquisition for the company. The February 20/25 call spread traded 10,000 times in early trading.

Traders squared away their positions in

Marvell Technology

(MRVL) - Get Marvell Technology, Inc. Report

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after the company released

strong earnings Thursday night. With the stock trading at $44.50, traders were selling the 45 calls before they expire worthless. More than 5,000 contracts have traded so far. The September 45 calls were also being sold and were down 25 cents. Almost 2,700 have traded, which is about one-third of the open interest for that strike.

Time Warner


saw heavy option activity in January as investors wait to see what influence

Carl Icahn will have on the stock. The January 17.5 puts have traded more than 8,400 times, while the January 20 calls have exchanged hands 6,400 times.



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hovers around $280, the August 280 calls and puts are the most active series as traders try to figure out where the stock will close Friday, which marks the monthly expiration of equity options. The strike has traded a total of 35,000 contracts so far on the day.


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had buyers of the September 45 calls after the company was upgraded this morning. Almost 6,700 contracts have traded.