![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5VPemqP23rZ1AVGAgvdBwmAX8C6ciApyEuct3II5LspZ7GTqOMrDTmuvIevBAvxgP3_cBQveaap_Amw_wN5iLLUboPzisjxq4GnJfB5SGIis4lZutE4xr98_vicQUY8h8GqXQGww9qIA/s400/amat_summary.gif)
The company averages 12,640 options traded a day - today over 26,500 have traded with more than an hour to go in the day. Further, nearly 24,000 of those are calls for an 8:1 call:put ratio. The Company Tab snapshot below (click to enlarge) demonstrates this as well as the Net Deltas (positive) and Net Premium (positive) - the order flow has been buying options and getting long delta ---> Buying Calls.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWqQEeIYL3Di05Rwqndnd-JNWPZJwj0nB7imlDROH_IH2hePPWCZ4gpOQhSjGZTGU1Y3QchRkhFqYk6CCnU24yXm-XWSfQb4jI6l8lM0nTywU4x-aca-hFOTXBebW4YVj29hw539s4I_M/s400/amat_company.gif)
The 7 largest trades of the day are all purchases of the Apr. 15 calls for 33 vol. The Options Tab snapshot illustrates that these are mostly opening orders - 18,620 volume vs 3,463 OI (open interest). Click either image below to enlarge.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNAedxnKKEEH4r5Py2NyL64boafK7h2CzlNNTb0Tm8rUHNXuGVwrBv8cawC7KrClCOZxSgM2VH9Vmwhz-KjL7SAIu5ynpjuh8qg-4_hn0ShZ-Sd5OOZusTwmaH3-tliJLH0JxPv3Cymas/s400/amat_trades.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj6FOsT7l_Xyr4izrqn9w5aR6qVuOc5JKN42rlYPaznkkzEwgPpq4DwPaLcEOWMxKg1DXKRRwRWOMlHSzObozBXwkXmzY7NMkKNH-vSgXlnxBt35v-HYTIoYIyb1Li6u3AUEpjK8VTmItE/s400/amat_options.gif)
Finally, the Charts Tab snapshot below (click to enlarge) illustrates the divergence between the IV30™ (red line) and the HV10™ (white line). However, you can also see that the prior earnings cycle yielded HV10™ of ~50%.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg3UxUs1fEbLIhjIjiZWatgeZElUHuDnP9PBnH6uJh-8H3acLYDieonIenMt22nQqm-Cfef6f948qzrhmHffZtgge6rxqKorMJtM_9r1MB0MIW3GEfo2Yj9VJ2dm41pWMYjLn0uXpq2Wg/s400/amat_charts.gif)
This is bullish in that it is a purchase of calls - but it's not uber bullish in that it deals in Apr. options. This could be a vol bet more than anything else. IV30™ does tend to be higher than current levels over the last 6 months in AMAT and VIX is now below 20.
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