Unusual weekly action in these names


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Here are some stocks with unusual activity in weekly options. They expire tomorrow, so the activity reflects very short-term expectations:

Cree (CREE): The 29 calls traded heavily for $0.53 to $0.56 as investors looked for upside in the maker of light-emitting diodes. CREE rose 4.34 percent to $29.80.

Direxion Daily Financial Bear Fund (FAZ): Investors sold the 26 calls for $0.20 to $0.45 early, followed by buying in the February 27 calls for $0.33 to $0.65. Buying the fund is the equivalent of shorting financials. FAZ rose 0.54 percent to $25.99.

Freeport-McMoRan Copper & Gold (FCX):
Investors sold the 47 and 46 puts, looking for the mining stock to hold its ground. FCX rose 0.32 percent to $46.68.

First Solar (FSLR): Investors purchased about 3,000 February 49 calls for $0.19 to $1, looking for upside in the shares. FSLR rose 6.33 percent to $48.71.

iShares Russell 2000 Index (IWM): Investors bought the 82 puts, the 83 puts and the 84 puts, looking to protect against a drop among small-cap stocks. IWM fell 0.60 percent to $82.31.

Disclosure: I own FAZ shares.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing Options
Referenced Stocks: CREE , FAZ , FCX , FSLR , IWM

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