Volume Spike Investor

While you never know what the exact bets are, we are seeing some continued elevated trading volume in the Washington Mutual Inc. (NYSE: WM) Call options.  Some of the volume is in the current expiration month and some is very far out on the curve.  You can see the volume aith the corresponding open interest:

OPTIONS/STRIKE        Volume    OpInt
AUG08 $4.00 CALLS    1,453    24,641
AUG08 $5.00 CALLS    1,484    48,785
SEP08 $5.00 CALLS    1,291    22,843
OCT08 $9.00 CALLS    1,014    5,344
JAN09 $7.50 CALLS    5,757    80,202
JAN09 $12.50 CALLS    11,740    123,372
JAN10 $10.00 CALLS     5,011    35,537
JAN10 $20.00 CALLS    10,409    40,964
For whatever it is worth, there has been some activity in the PUT OPTIONS that expire in just two days:

OPTIONS/STRIKE        Volume    OpInt
AUG08 $4.00 PUTS    5,065    55,674
AUG08 $5.00 PUTS    5,509    60,846
SEP08 $4.00 PUTS    1,757    21,882

Jon C. Ogg
August 13, 2008