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Micron Technology, Inc. (MU), Bank of America Corp. (BAC) and AbbVie Inc. (ABBV)



U.S. Stock futures trading mixed this morning. Serious fears in the trade war are limiting Wall Street's performance, as traders want to end May largely on a positive note.

<p class = "canvas atom canvas text mb (1.0em) mb (0) – sm mt (0.8em) – sm" type = "text" content = "The political uncertainty in Italy remains a major concern, while the White House could soon announce tariffs for the EU The Dow Jones Industrial Average however, expects a 2% gain for May, while the S & P 500 Index increased by 2.9% for the month and Nasdaq Composite has risen by 5.6%. "Data-reactid =" 23 "> Political uncertainty remains a major concern in Italy The White House could already announce tariffs for the EU today. Nevertheless, the [DowJonesIndustrialAverage of 19459012 sees a 2% gain for May. The S & P 500 Index has risen 2.9% since the beginning of the month, and the Nasdaq Composite has risen 5.6%.

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<p class = "canvas-atom canvas-text Mb (0) mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In the last trading day of May, Dow futures are flat. S & P 500 futures have risen 0.03% and Nasdaq-100 futures have added 0.04%." data-reactid = " 25 "> In the last trading day of May, Dow futures are flat. S & P 500 futures rose 0.03% and Nasdaq-100 futures increased 0.04%.

Options increased in volume until the end of the month – a typical time for a portfolio repositioning. In total, about 18.2 million calls and 14.7 million puts changed hands. On the CBOE, the volume of put / call volatility in a meeting dropped to 0.56. The 10-day moving average was held at 0.60.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" Type = "Text" content = "Options Trader Continue Loading Micron Technology, Inc. (NASDAQ: MU ) demands on Wednesday, despite mounting concerns over China about storage prices. Elsewhere Bank of America Corp. (NYSE: BAC ) Call options volume rose after a projection for flat second-quarter revenue Finally, AbbVie Inc. (NASDAQ: ABBV ) was rolled-up after a downgrade of Credit Suisse. " data-reactid = "27"> Options Traders Continues to Download Micron Technology, Inc. (NASDAQ: MU ) calls for memory prices on Wednesday, amid mounting concerns over China. Elsewhere, Bank of America Corp. (NYSE: BAC ) Call options volume strongly following a projection for flat second quarter sales. Finally, AbbVie Inc. [19659000] ABBV has increased its volume after downgrading Credit Suisse

Let's take a closer look:

Vital Options on Thursday Dates: Micron Technology, Inc. (MU), Bank of America Corp. (BAC) and AbbVie Inc. (ABBV)

Micron Technology, Inc. (MU)

The Micron share has soared to its highest levels since the dot-com boom this week. The shares traded north of $ 64.50 before breaking through yesterday. Micron continued to grow in strength as a result of stronger-than-expected second-quarter forecasts and the $ 10 billion share repurchase plan.

However, profit taking and growing concerns that China might take action against DRAM and NAND have led to selling pressure yesterday. In fact, the MU share has fallen by almost 3% before the stock market.

These concerns have not stopped MU stock options traders yesterday. The volume increased to 528,000 contracts, with 71% of the day utilized. In addition, the weekly options of June 22 ahead of next quarter's quarterly earnings report continue to be popular.

The weekly put / call interest rate in June is 0.33, with calls for the series tripling. That said, that reading has risen from last week's low of .27, suggesting that puts seem to attract a bit of followers.

Bank of America Corp. (BAC)

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = Bank of America chief executive Brian Moynihan said yesterday: The statement follows similar fears of [1945901] JPMorgan Chase & Co. (NYSE: JPM ), which warned of similar results earlier this week. "Data-reactid =" 51 "> Second-quarter sales and trading revenues will be flat year-over-year, said Brian Moynihan, chief executive of Bank of America, yesterday. The statement follows similar concerns from JPMorgan Chase & Co. (NYSE: JPM ), which warned of similar results earlier this week.

However, Moynihan said BofA would benefit from share buybacks. If you read me regularly, you know my opinion about companies that use share buybacks to boost share prices.

The traders of BAC options, however, did not appear to be disturbed by the news. The volume rose yesterday to over 491,000 contracts, which is about 1.5 times the daily BAC average. The calls yesterday accounted for 83% of yesterday's activity.

In short, the BAC options for short-term traders remain on the line. At the moment, the put / call OI ratio stands at 0.97 in June, with puts and calls being nearly equal to the series. The recent break in BAC support close to $ 30 is unlikely to support the upward sentiment on the stock currently.

AbbVie Inc. (ABBV)

The shares of AbbVie yesterday largely ignored a declining research note from Credit Suisse. The rating firm lowered the ABBV share to "underperform" and lowered its price target from $ 104 to $ 89. Credit Suisse cited concerns over the longevity of the flagship drug Humira due to the emerging competition and lack of exciting replacement drugs in the company's pipeline.

Dealers of ABBV stock options took note of this. Volume increased to 167,000 contracts, or more than 2.5 times AbbVie's daily average. Puts claims 55% of this activity.


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