PPG Industries (PPG) earnings on 1/18 before the open and today IV rising mid-day as 2,450 February $115 calls are bought from $4.40 to $5, shares flagging above the 50-day and under new 2-year highs, name which targeted Akzo Nobel last year
UPS (UPS) bullish spread this morning buys 2,000 June $140 calls for $3.30 and sells the Feb. $120 puts for $0.40 to open with earnings on 2/1, net debit of $2.90 and follows a strong quarter from FDX in late Dec.
General Mills (GIS) with 2,000 February $60 calls bought $0.64 to $0.68 this morning, shares retesting a recent breakout level and a consumer staples name that actually has some chart momentum and accumulation in shares, long rumored as a possible M&A target
NRG Energy (NRG) earlier with 5,000 each of the June $29 and $30 calls opening and also seeing 6,000 February $29 calls bought today as Jan. $28 calls roll out, name with a lot of bullish OI
Credit Suisse (CS) with 3,500 Jan. 2020 $17 calls bought today for $3.55 to $3.70 to open as the Jan. 2019 $14.51 calls roll out, shares hitting new two year highs today
Tower Semi (TSEM) with 1,500 April $37 calls bought for $1.75 today to open, the Jan. $33 calls rolling out and strong trend for months and company with a lot of future growth potential in RF and sensors as they expand capacity
JD.com (JD) buyers of 3,750 February $48 calls for $1.30 to open this afternoon and IV steadily higher with over 6,900 March $50 calls bought up to $1.55 as well
Monsanto (MON) off the lows of the day with 10,000 July $120/$125 call spreads bought against a sale of the $110 puts, net $1.96 debit in a stock replacement
Regions Financial (RF) on the highs and IV perking up with over 6,000 February $17 calls bought up to $1.46 to open with earnings on 1/19
WR Grace (GRA) opening buyer of 1,000 February $75/$80 call spreads this afternoon for $1.11 debit, shares back above the 50-day and looking to break out of a year-long range
Wendy’s (WEN) rallying to the highs of the day with 5,000 February $17 calls bought for $0.68 and recently saw aggressive buyers of the May $14 calls into weakness, strong since the Roark/BWLD deal with Wendy’s owning a stake
Praxair (PX) with 1,000 April $165 calls bought today for $6.20 to open, strong to new highs today and Deutsche Bank upgrading recently seeing significant value opportunities from their Linde merger and nearly $1B in savings
BorgWarner (BWA) with 525 July $57.5 calls bought to open this morning $2.85 to $2.95 into the highs of the day, auto parts a strong group to start the year
NRG Energy (NRG) on the highs with 3,000 February $30 calls bought today for $1.33 as the Jan. $28 calls roll out, strong setup with shares nearing a breakout over the Nov. highs
US Bancorp (USB) with 2,500 February $55 puts sold to open today $1.04 to $1 ahead of earnings 1/17, follows some LEAP calls bought last week as well
Amtech Systems (ASYS) on the highs with IV rising all day and 940 May $10 calls bought up to $2.60 to open, trading 12X average, shares basing above its 200-MA. The $153M semiconductor equipment company with a focus on fabricating solar cells trades 17.8X earnings, 0.93X sales, and 3X cash with strong FCF and 20% EPS growth
Splunk (SPLK) IV pops with 1,125 February $92.50 calls bought for $1.75 to $1.95 to open this morning, considered an M&A target in the space and coming off a strong quarter with raised FY guidance
Advanced Auto (AAP) with 1,125 February $120 calls bought for $2.60 today as the Jan. $105 calls close 2,500 and roll out, shares running into the 200-MA today after a strong run
Caterpillar (CAT) buyer of the June $160/$180 call spread 1,000X today to open for $6.30 with shares sitting new 2-year highs
First American (FAF) shares breaking out today to new highs and seeing 2,000 July $60 calls bought today from $2.60 to $3.38 to open, unusual size for the name. The $6.3B P&C company trades 14.5X earnings, 1.92X book and 5.5X cash with a 2.7% yield.
Ollie’s Bargain Outlet (OLLI) buyer of 1,080 April $50 puts for $3.07 to $3.10, shares rolling over a bit today after a strong run recently and will be at ICR Conference next week including meetings with Stephens and Piper Jaffray
Alcoa (AA) with 2,000 March $55 calls bought today for $2.97 on the ISE, stock replacement into recent strength and potential tariff announcement later this month
Fiat Chrysler (FCAU) moving out of a big weekly flag today over $18.50 and 7,250 June 2018 OTM $24 calls bought around $0.40, the company hoping to reach a fix over its illegal use of software in diesel vehicles this Spring. FCAU also a name which has long been considered an M&A target in the space with Great Wall making an offer last year
Morgan Stanley (MS) buyer of 5,000 March $55 calls for $0.96 to $0.97 to open, strong setup back to the 20-EMA after a strong trend since early 2016
Stryker (SYK) on the highs with IV rising and 1,370 March $160 calls bought for $4.20 to $4.50 to open, strong chart with shares consolidating under post-earnings highs
Fed-Ex (FDX) strong to new highs as a large trade sells 5,000 February $230 puts to buy the $260/$270 call spreads 5,000X
Exxon Mobil (XOM) with 5,500 March $85 calls bought for $1.55 to $1.58 this afternoon as shares clear a multi-month range and crude energy continues to show strength
Bristol Myers (BMY) shares out of its 20 week EMA base today and seeing 5,000 Jan. 2019 $80 calls bought $1.21 to $1.35
Cintas (CTAS) on the day’s highs with 600 Jan. 2018 $150 calls bought up to $5.70 to open, strong setup with shares consolidating under 52-week highs and the 50-MA just below at $147. Baird positive on 9/28 seeing strong longer-term earnings power as they integrate the GK Services acquisition
Synchrony Financial (SYF) buyers of around 5,500 Feb. 2018 $34 calls $1.90 offer, bullish action in the name continues to accumulate, a recent gap higher on its deal with PayPal and also mentioned as a potential M&A target for HSBC
Broadcom (AVGO) spreads this morning selling the December $250 puts for $4.42 and buying the Jan. 2018 $300 calls for $5.02, opening 2,000X as they pursue Qualcomm (QCOM)
Albemarle (ALB) with the December $150/$170 call spread bought this morning 925X to open ahead of earnings after the close, a top lithium play in a growing market, paying $2.70
Bunge (BG) buyer of 500 April 70/80 call spreads for $2.45, has a standstill agreement with Glencore who is attempting to acquire them
Envision Healthcare (EVHC) buyer of 11,500 December $45 calls for $1.85 to open today, sizable position in the name which still has 7,000 December $50 short puts in open interest from earlier risk reversals, earnings 10/31.
Coach (COH) earlier today with 3,000 November $41 puts bought $1.65 to $1.72, will confirm the OI change tomorrow. COH will report on 11-7 and got hit hard last quarter, and has not recovered much
Children’s Place (PLCE) with over $400K of November $105 calls bought $6.85 to $6.90, shares moving higher after the Carter’s (CRI) quarter, and has 1,500 short November $115 puts in OI
Versum Materials (VSM) with 1,000 March 2018 $42.50 calls bought for $1.50 as the December $37.50 calls adjust and roll out. The $4.3B chemicals company with ties to semiconductor production trades 18.7X earnings and 4X sales and up 40% YTD.
Check Point (CHKP) continuing to draw bearish positioning ahead of 10/31 earnings as 1,200 November $110 puts bought today for $1.55 to $1.60
Monster (MNST) shares rallying to the highs of the day with 3,000 November $56 calls bought at $2.30 to $2.40 to open. Shares looking to work out of a bull flag with the recent December call accumulation. MNST holding gains after calls bought earlier, comes ahead of KO results tomorrow morning
Melco (MLCO) with 2,700 November $25 calls bought today $0.55 to $0.60 to open with earnings in early Nov. and name with a lot of size put sales recently into weakness
Basic Energy (BAS) shares higher this morningwith 1,200 November ITM $15 calls bought $3.30 to $3.60 to open, name which saw some size insider buying in August around these same levels
Iberia Bank (IBKC) unusual activity with 1,790 Feb. 2018 $70 puts being sold to open $2.30 to $2.20 with shares down 8.5% after announcing a $223M deal for Gilbraltar Bank and also downgraded at Stephens. The $4.33B regional bank trades 13.6X Earnings, and 1.2X Book.
Union Pacific (UNP) with 60,000 January 2019 $130/$160 call spreads bought today for $3.56 and name which already has the $140/$160 call spread in open interest 50,000X. Earnings next week, 10/26. UNP also yesterday the March $130/$150 call spread bought 137,000X
NRG Energy (NRG) with 3,000 December $26 calls bought today for $1.39 to $1.41, rolling out of the November $25 calls as shares continue to coil under recent highs and pullback to the 20-MA today
Royal Caribbean (RCL) with the November $125/$135 call ratio spread opening 5,000X10,000 today for $1.90 as shares pull back to the 50-MA . Argus out positive recently noting that they think the Harvey and Irma impact will be minimal while long-term demographics in the industry remain favorable and they see limited growth in cruise ship capacity
Axcelis Tech (ACLS) IV rising all afternoon with 2,340 December $35 calls bought $1.10 to $1.50 to open, unusual size for the name which trades around 125 calls on average per day. The $952M semiconductor equipment company trades 18X earnings, 2.9X sales, and 8.77X cash and has traded very strong recently
Athenahealth (ATHN) November bull spreads trading again today selling the $105 puts to buy the $120/$130 call spread, 750X for $1.80 debit ahead of earnings tomorrow afternoon. ATHN with Elliott Management involved since May seeking strategic changes which could range from operational improvements to a management changes and sale process.
Netflix (NFLX) down 2% on day lows and yesterday’s December $205/$220 call spreads rolling back to the $200/$215 call spreads 13,500X. Netflix (NFLX) on the lows of the day, down almost 2%, and 5,000 November $195 calls bought in a sweep from $6.75 to $7.15 to open and follows the size December call spreads which adjusted back today as well
Adobe Systems (ADBE) buyers of 3,500 November $155 calls for $1.43 up to $1.50 ahead of their Analyst Day tomorrow, a number of sell-side notes this week already lowering expectations for guidance
Scientific Games (SGMS) with 2,000 Jan. 2019 $65 calls bought for $5.15, over $1M trade, spot where 2,000 opened on 9-29 at $5.30 and has sizable bullish OI
Immunomedics (IMMU) with 5,000 January $12 calls opening $1.35 to $1.45 this morning with shares pulling back to the 50-MA. IMMU is expecting to file a BLA for Sactuzumab Govitecan for the treatment of metastatic triple-negative breast cancer sometime late this year or early 2018
Bank of America (BAC) with 7,000 April 2018 $25 calls bought $2.06 to $2.10 into earnings tomorrow, shares lower today after C/JPM earnings were sold into, and BAC has seen massive call accumulation in April 2018
Arconic (ARNC) trading another 5,000 November $30 calls today for $0.43 to $0.44 where nearly 7,000 were bought recently, name Elliott Management is involved with and gainer board representation in May
Square (SQ) strong today with the November $34/$39 call spread bought 1,500X to open, $1.05 debit, earnings on 11/8. Oppenheimer starting at Outperform last night, early stages of building their ecosystem for small businesses
Sina Corp (SINA) IV rising with buyers of more than 1,150 November $110 calls for $8.75 to $9.10, shares flagging under recent highs. SINA has a Shareholder Meeting on 11/3 and activist Aristeia is nominating board members, the firm seeking a number of changes including a possible sale.
Methanex (MEOH) on the highs with 1,135 November $52.50 calls opening for $1.40 to $1.45 today, shares pulling back just off of recent highs and still has some scattered Oct. call open interest from late September
Deutsche Bank (DB) with 3,000 March 2018 $15 puts sold to open today for $0.62 and follows size buyers in the January 2019 $15 calls earlier this week
Pioneer Natural (PXD) with 1,000 December $150 calls bought for $8.50 today and name which has the long-term January 2019 $160 calls in open interest over 3,000X
PTC Theapeutics (PTCT) weak again after the JPM downgrade yesterday but seeing 2,200 November $18 puts sold to open today at $2.05, popular strategy in the name
Wayfair (W) with more than 550 May 2018 $70 calls bought this morning from $9.80 up to $10.30 to open into weakness, BAML positive this morning on Q3 comps ahead of 11/2 earnings
Clovis (CLVS) spreads this afternoon buying 2,000 January $110 calls for $3.50 and selling the November $75 puts for $3.00, net debit of $0.50 and similar to spreads on 10/2 which sold the $70 puts
Weight Watchers (WTW) with 2,000 April 2018 $29 puts being sold to open near $1, popular strategy in the name, shares setting up with a nice weekly bull flag
Qiagen (QGEN) with another 1,000 November $35 calls trading this morning from $1.70 up to $2.20, spot where more than 2,000 opened on Friday and been showing some unusual strength. QGEN was considered a prime M&A target back in 2015 due to their Dutch domicile although tax-inversion deals falling out of favor
CME Group (CME) with 550 January 2019 $145/$115 bull risk reversals opening today for $0.35 debit, strong name recently with consecutive months of double-digit ADV gains
WR Grace (GRA) buyer of 4,700 December $75/$80 call spreads for $1.60, name with a lot of bullish open interest, potentially eyeing an acquisition of a CBI unit, or a target itself
Ryder (R) with 1,000 November $82.50 puts bought for $2.50 to open today after some Oct. $85 call sales yesterday into recent strength. R also with 4,000 October $82.50/$77.50 put spreads opening this afternoon for $0.85 on the PHLX
General Motors (GM) with 10,000 December $45 calls bought for $1.07 to $1.09 today to open, strong run recently with the strong auto numbers the last two months. BAML upgrading this week to Buy with a $57 PT seeing their expansion into autonomous vehicles and ride sharing with massive potential.
Malibu Boats (MBUU) unusual action today with over 845 February 2018 $35 calls bought to open up to $2.75, name on a strong run recently and today’s volume over 25X average. The $658M distributor of power boats trades 15X earnings, 2.34X sales, and 20X cash with 15% EPS growth. MBUU is expecting 59% revenue growth in 2017 and 6.7% growth in 2018. Aegis started shares at Buy yesterday with a $37 PT seeing better growth rates than the overall recreational boat market and expects significant synergies from their recent acquisition of Cobalt Boats while vertical integration can help drive future margin expansion. Institutional ownership rose 3.45% last quarter, Hood River a notable buyer of 408,000 shares. Short interest is high, 9.8%.
Signet (SIG) big buyer of 3,000 Jan. 2018 $70 puts to open $9.20 to $9.35 into strength as shares bump back into the 200 MA
Chenerie Energy (LNG) strength today pushing above its 200 day MA and seeing 2,500 March 2018 $47.5 calls bought to open $3.15 to $3.30, aggressive buys
Kaman (KAMN) very unusual action with 380 December $60 ITM puts being sold to open $5.60 down to $4.20. KAMN shares have been on a sharp two-week rally, its Aerospace sector seeing a lot of M&A and the $1.54B Co. trades 19.4X Earnings, 0.87X Sales and 47.3X FCF.
Hain Celestial (HAIN) buyers of 1,000 May $44 calls for $3.80 to $3.90 to open today, size January call open interest already in open interest as Engaged Capital pushes for a sale
Domtar (UFS) early unusual buys 550 Jan. $45 calls at $1.50 offer, name with over 10,000 Oct. $40 and $42.5 calls in OI
GGP (GGP) with 2,000 November $21 calls bought today for $0.88 to open, name which has been exploring strategic alternatives for months now
JD.com (JD) seeing 7,000 March 2016 $35 puts sold to open $1.96, shares weak the past 2 weeks but could see some action next week with Wal-Mart (WMT) hosting an Analyst Day, a stake owner
ASML Holdings (ASML) shares pulling back off of recent highs this week but seeing 500 October $165 calls bought to open $3.10 to $3.20 today. Susquehanna positive last week seeing the company best positioned to take advantage of multiple growth verticals in DRAM and 3-D NAND
Electronic Arts (EA) weak off of recent highs and under the 50-MA this week but seeing the November $115/$125 call spread bought this morning for $3.25 to open, 2,000X, and similar to TTWO spread yesterday
Anheuser Busch (BUD) large trade buys 10,000 each ont he offer of the November $130, December $130, Jan. 2018 $135 and Jan. 2019 $155, and March $140 calls, nearly $5M net
Starbucks (SBUX) seeing 2,950 April 2018 $57.5 calls trade near $1.89 where 3,700 opened earlier this week
Pepsi (PEP) seeing another 5,000 October $115 puts sold to open this morning near $1.78, spot where 3,500 sold to open on 7/26, started Outperform at Macquarie this morning
Liberty Broadband (LBRDK) with 10,000 October $125 calls opening $0.45/$0.50, owns big stake in CHTR
EQT Corp (EQT) with 2,500 December $75 calls bought today for $1.15 to open on the AMEX, DE Shaw with a letter to the board today outlining a plan for the company to unlock $8B in shareholder value
US Steel (X) stock replacement sells 3,000 June 2018 $25 puts to open $3.80 at the ISE, shares pulling back to the prior breakout today and 50/100 EMAs
MGM Resorts (MGM) with 4,700 December $34/$38 call spreads bought today for $1.13 debit on the ISE, stock replacement as shares climb back near the July earnings highs.
Rayonier (RYN) off the lows with 1,200 February $25 calls bought $3.70 to $3.80 to open and also seeing the $30 and $35 calls active, shares holding the 200-MA today. RYN has an Investor Day on November 10 and will be at the RBC Capital Markets Global Industrials Conference 2017 next week, 9/14
Intuitive Surgical (ISRG) relative strength today and seeing 320 October $1,100 calls bought this afternoon for $8.40 to $8.90, spot where 500 were bought on 8/18
Nordstrom (JWN) on the highs, strong move out of a base today, and seeing 575 November $45 calls bought to open from $3.30 up to $3.65 to open today. JWN is a potential LBO situation with the family exploring deals with private equity. JWN raised their FY outlook on 8/10.
Holly Frontier (HFC) with 1,500 October $33/$28 put spreads bought this afternoon to open and follows 5,000 of the Octobe $31/$27 spreads yesterday
XL Group (XL) on the lows of the day and 10,000 September $39 puts bought for $0.25 to open, shares under the 200-MA and been a weak name since earnings in July. Insurers under pressure since Hurricane Harvey and JP Morgan note this week seeing it as one of the ten most costly storms in US history with potentially $20B in damages
August 22, 2017
Mantech (MANT) unusual action today with 475 February 2018 $40 calls bought from $2.00 up to $2.60 to open, name which trades less than 20 calls per day on average. The $1.48B software company trades 23.5X earnings and 0.90X sales with a 2.2% yield.
Monster Energy (MNST) seeing 670 March 2018 $55 calls open today from $4.40 to $4.50, shares nearing a breakout of a three-year range over $55.50. UBS positive recently on long term drivers of growth including international distribution and new products
NCR Corp (NCR) with 2,050 Jan. $40/$45 call spreads bought to open for $0.85, oversold name. Benchmark defending recently noting they see the company returning to mid-single digit growth in early 1H18 and thinks their broad scale platform unification and rationalization should yield significant benefits long-term. They have a $55 PT for shares.
August 18, 2017
Ctrip.com (CTRP) shares trading lower by over the last two weeks from as high as $60 in July and holding the 200-MA today as 4,000 December $50 puts are sold to open in a stock replacement on the PHLX for $3.20
Hain Celestial (HAIN) with 1,300 Jan. 2018 $46 calls bought to open $2.75 to $2.90, spot where 3,000 have bought to open over the past week. HAIN shares testing recent lows and been seen as a M&A target.
Baozun (BZUN) buyers of 1,650 September $45 calls up to $1.00 to open now after the size Oct. call buys the last two days, earnings 8/21
August 3, 2017
Red Robin Gourmet Burgers (RRGB) buyer of 1,000 August $60 calls for $1.35 today ahead of 8/8 earnings and follows 1,000 of the $65 calls bought recently
Blue Buffalo (BUFF) earnings next week, 8/8, and seeing 1,000 September $22.50 puts open for $1.10 today and coming off a weak quarter. BUFF shares are consolidating above key support which stretches back to October with double-digit short interest
Teva Pharmaceuticals (TEVA) down 18% today and seeing 6,000 December $30 puts bought on 7/28 close at $5.20 and roll down to open 9,000 of the $27.50 puts for $3.25
August 1, 2017
Juno Therapeutics (JUNO) IV higher this afternoon with 2,000 September $27.50 puts bought for $1.80 to $1.85 to open, earnings on 8/3 after the close
Portola (PTLA) buyer of 3,000 September $65 calls for $3.70 to $3.80 as 2,000 of the August $70 calls close and adjust, shares strong following FDA approval of Bevyxxa in June
Peabody (BTU) today seeing 1,000 January $26 puts and 1,000 January $25 puts sold to open as the October short puts adjust and roll out, shares +7.5% today after earnings. The company noted strong industry demand in 1H of the year after supply rebalances following Cyclone Debbie in Australia
July 31, 2017
Ball Corp (BLL) action continuing now with 2,000 August $40 calls bought up to $2.45 today and over 675 August $42.50 calls trading as well, earnings on
Marrott Vacations (VAC) trade sells 2,000 Jan. 2018 $105 puts to open $4.26 and buys 2,000 of the $120/$135 call spreads, net $0.75 debit and similar to the trade in August open interst, earnings 8-38/3 and higher three of the last four. VAC a name which Reuters reported in mid-June was discussing a potential merger with ILG and Sun Trust noting that VAC likely has the most synergy potential in a deal
Cypress Semi (CY) with 2,750 September $14 puts sold to open today for $0.65 to $0.60 and name which has sizable September call open interest as shares trade near six-month highs
July 28, 2017
INC Research (INCR) small buy unusual buy of 300 March 2018 $50/$70 call spreads at $7.95. The $3B CRO trades 18.3X Earnings, 1.9X Sales and 20.3X FCF and we have seen a lot of consolidation in the space. SunTrust upgraded on 5/31 to Buy with a $67 target, seeing growth set to accelerate in 2H17 into 2018 and its merger with InVentiv can expand revenues and realize synergies.
Gannett (GCI) unusual action today trading over 50X average call volume as traders buy nearly 600 September $10 calls and over 740 October $10 calls, small premium ahead of earnigns next week. Shares are consolidating near multi-month highs and back above the 200-MA
PVH Corp (PVH) spread selling 2,000 August $115 puts to buy the $120/$125 call ratio 2,000X4,000
July 25, 20167
California Resources (CRC) shares moving higher with 4,750 August $8 calls bought $0.75 to $0.85 to open, name which is highly leveraged to oil and has a significant short float, over 35%
Discovery (DISCA) on the lows of the day with more bearish flow as 1,500 August $25 puts open and another 1,250 of the $27.50 puts trade today where over 7,000 were bought recently. DISCA recently with reports of a deal with SNI but some concerns about a potential stock-for-stock structure. DISCA August $25 puts now trading 7,000X on the morning with a block at $0.70 here
Micron (MU) with 5,000 January $26 calls opening $6.35 to $6.45 today into weakness, shares trying to hold above the post-earnings lows in early July
July 19, 2017
Exelixis (EXEL) with 3,000 August $25 puts sold to open for $1.00 to $0.95 today as share move to session highs. Sun Trust out with a $33 price target recently
Regeneron (REGN) with 350 August $530 calls bought this afternoon for $10.70 to $10.85 to open into session lows. REGN added to BAML’s US 1 List this morning seeing higher Dupixent sales and a best-in-class pipeline driving long-term growth
Insmed (INSM) unusual spread buys 1,000 November $15 calls $8.60 and sells 1,000 October $38 calls for $1.15. INSM expects Phase 3 data for Arikayce for the treatment of non-tuberculous Mycobaterial Lung disease sometime around September.
July 18, 2017
XL Group (XL) on the highs of the day with IV ramping and 1,380 August $45 calls bought up to $1.70. XL reports next week, 7/26, and the $11.8B insurance company trades 11.22X earnings and 1.1X book with a 2% yield
Red Hat (RHT) with buyers of 1,875 December $110 calls for $2.25 to $2.35 to open today, coming off a strong quarter. Volumes up to 3,000X now. Stifel upgrading recently with a $115 target behind stronger demand for hybrid cloud conversions.
United Tech (UTX) buyers of 2,000 September $125 calls for $1.41 to $1.45 to open ahead of 7/25 earnings. UTX a strong history, higher six of the last seven.
July 17, 2017
Lumber Liquidators (LL) buyers of 950 August $25 calls up to $2.55 to open today and still has some sizable $29 and $30 call open interest. LL shares have based above $24 and under the 50-day since early June. LL trading over 2,350X of these calls on the day now.
Home Depot (HD) weak name off of 2-year highs recently but seeing 2,500 January 2019 $180 calls bought for $4.70 to $4.85, sizable long-term positioning. HD shares are basing above the April breakout and strong longer-term trend since October
Intuit (INTU) stock replacement buys 1,000 Jan. 2018 $140 calls to open $5.45 at the CBOE. INTU with a positive mention in Barron’s this weekend seeing solid earnings growth and a yield.
July 14, 2017
Axon Enterprises (AAXN) shares jumping this afternoon with 2,000 August $25 calls bought for $1.25 up to $1.50.
Rio Tinto (RIO) large stock replacement sells 5,000 October $47.5 ITM puts to open $4.30 at the PHLX, popular strategy in the name latelyfor $1.25 up to $1.50.
Visa (V) with buyers of more than 6,000 August $97.50 calls today up to $1.83 ahead of 7/20 earnings, spot where 5,000 were bought on 6/2 and remain in open interest
Uniti Group (UNIT) buyer of 1,000 February $25 puts for $2.20 today on the AMEX, shares bouncing back into the declining 200-MA this week
July 13, 2017
S&P Global (SPGI) buyer of 3,000 February 2018 $160 calls for $4.40 on the AMEX and name which already has significant call open interest in August and November. SPGI shares are coiled in a bull flag under new highs and report earnings on 7/27
Geniune Parts (GPC) with the August $82.50/$75 put spread bought for $1.60 against a sale of the $90 calls for $0.36, net debit for the spread of $1.24 opening 1,600X
Polaris (PII) with 1,500 July $85/$75 put spreads bought today for $0.95 ahead of 7/20 earnings, continuing to see bearish positioning in the name.
July 12, 2017
Zimmer Biomet (ZBH) with 1,250 August $120 puts sold to open today for $1.35 to $1.30 after news of CEO departure. Guggenheim positive noting the move indicates the company is willing to listen on a shift in strategy
Grupo Televisa (TV) opening sale of more than 13,000 August $25 puts for $0.25, a near-monthly strategy now in the same in 2017 and coming off a strong move earlier this week following earnings
Schlumberger (SLB) buyers of 2,000 Jan. 2019 $75 calls at $3.60 and also trading 1,000 June 2018 $70/$62.5 bull risk reversals for a net $1.05 credit
July 11, 2017
TE Connect (TEL) with 1,195 August $80 calls being bought to open this afternoon $1.90 to $2.05, still some size in July call OI as well with a long flag forming
Tiffany (TIF) with 2,500 August $87.50 puts sold to open for $1.35 on the PHLX, stock replacement and a retail name which has held up very well near new 2-year highs. Jana Partners with a recent stake and board seats.
Cornerstone On Demand (CSOD) now with 1,500 August $37.50 calls bought for $1.89 to open, rolling out of hte July call and name which was pushed to sell itself by activist Praesidium last Winter
July 10, 2017
Honeywell (HON) IV popping with 3,000 July $140 calls bought up to $0.34 to open, name which has been rumored to be an acquirer seeking a deal. HON 1100 Aug $140 calls also trading now. HON also with 1,000 December $135 calls opening today for $5.60, strong chart.
Intuit (INTU) with 500 January 2018 $140 calls bought today for $5.11 to $5.20, stock replacements with shares filling the recent earnings gap and back to cloud support. BAML recently raising their PO to $145 behind sterngth in small business which is creating a bigger TAM opportunity for the company
July 6, 2017
Caterpillar (CAT) buyer of 1,450 September $105 puts for $3.85 this afternoon to open and follows the Dcember $100 puts bought in the last half hour yesterday
Steel Dynamics (STLD) with 2,000 November $37 calls bought for $3.18 to $3.20 and follows 3,000 of the NOvember $34 calls bought last week
Nvidia (NVDA) with 1,000 October $125 puts sold to open today for $5.20 to $5.15 and follows 1,000 November $130 puts sold to open in stock replacements earlier
July 5, 2017
Potash (POT) opening sale of 3,600 December $16 puts at $0.91 into weakness today with shares forming a multi-week base, and over 43,000 September $17 short puts in OI
Tailored Brands (TLRD) with 10,000 Jan. 2018 $15/$20 call spreads bought for $0.70, a name with 20,000 November $12.50 calls in OI, but also with more than 30% of its float short
Tupperware (TUP) with a buyer of 1,500 August $70 puts for $3.00 to open today, earnings on 7/26 and shares back under the 50 MA last week
June 20, 2017
Amaya (AYA) shares pulling back the last few weeks to a nice base and seeing 1,300 Feb. 2018 $15 calls bought $3.70 to $3.80 to open today, trading 20X daily calls. The $2.6B provider of gaming and interactive entertainment has been eyeing acquisitions after completing deals for Pokerstars and Full Tilt Poker.
Owens Corning (OC) with 900 November $70 calls bought today for $2.00 to $2.20, upgraded this morning at Macquarie seeing better insulation pricing as of June 1st driven by tightening capacity
Netflix (NFLX) not bouncing back as much as other Tech names but seeing stock replacements open 1,000 December $160 calls today near $11.70
June 19, 2017
Affiliated Managers (AMG) with 2,000 July $155 puts being sold to open today for $0.70, fairly common strategy in the name and still has 2,500 July $140 and some smaller September $155 short puts in open interest
Marriott Vacations (VAC) spread sells the August $110 puts for $1.95 to buy the $130/$140 call spread for $3.30, net debit of $1.35 for 2,500 contracts. VAC reportedly has held talks with ILG recently about a potential merger
Dollar Tree (DLTR) working off the lows of the day and 10,000 July $72.50 calls bought to open for $1.15 to $1.20
June 16, 2017
Ross Stores (ROST) under more pressure with 2,750 November $55 puts opening $1.55, shares breaking support yesterday and continuing lower today. Follows sizable buyers of nearly 5,000 August $60 puts between 6/8 and 6/14
Kroger (KR) down 14.3% here on the AMZN/WFM deal news, but 10,000 October $25 calls step in to buy at $0.70
Teradyne (TER) with 2,500 October $35 calls bought for $1.65 to open today and still has over 10,000 of the OTM $39 calls in open interest, strong growth from their robotics unit last quarter
June 15, 2017
IPG Photonics (IPGP) with a large buy of 1,000 January $125 puts for $6.90 on the AMEX, strong name this year but movign under the 20-MA this week. IPGP has 10% of the float short and recently upticked from around 7.5% in late March.
RH (RH) near session lows and 2,000 June 30th (W) $56.50/$48 bull risk reversals open for $0.35 debit, strong bounce recently after cutting their outlook earlier this month.
Aetna (AET) with 1,000 July $155 calls opening today for $1.10 as the June $147 calls close and roll out, MSCO initiating with a Buy rating recently seeing gains driven by Medicare growth
June 13, 2017
Celanese (CE) a chemical name moving out of a base the past week seeing an unusual trade that bought 500 July $92.5 calls $1.65, 1,000 July $95 calls $0.97, and 1,000 September $97.5 calls at $1.46
Bloomin’ Brands (BLMN) shares dropping to the lows of the day earlier as 2,950 July $22.50 puts are bought to open up to $1.60
Medtronic (MDT) with over 2,250 July $87.50 calls opening today for $1.23 to $1.28 as the June $86.50 calls roll out and still with notable September upside calls in open interest
June 12, 2017
General Growth (GGP) strength continuing to start the week with a push above the 20 week EMA and seeing 3,850 October $25/$29 call spreads bought today, already with 22,000 Oct. $25 calls in OI and some size in July calls as well
Cutera (CUTR) strong today up 3.8% and seeing unusual action as more than 940 July $25 calls open up to $1.50 this aftenroon, 30-day IV up 40.4% as shares climb to new highs. The $332M medical equipment company trades 36X earnings and 2.66X sales with 18.7% Y/Y revenue growth in 2017 expected. The company is hosting an Analyst Day on Wednesday.
June 1, 2017
Cognizant Tech (CTSH) October $60 calls closing 5,000X that were bought on 3/22 as part of a risk reversal with short $52.50 puts 10K that are also closing, trader opens 10,000 October $67.50 calls for $3.35
Schwab (SCHW) with nearly 3,000 July $40 calls bought up to $1.40 today, strong today and Deutsche Bank out recently noting that the Fed tightening cycle is far more important to e-brokers than political uncertatinly
Eastman (EMN) strong today and seeing 1,470 July $85 calls open from $0.90 to $1.03, rolling from the June $82.50 calls with a nice weekly flag buiding under $82
May 30, 2017
Rice Energy (RICE) on the highs with over 7,500 June $19.50 puts sold to open from $0.35 to $0.30 ahead of Annual Shareholder meeting tomorrow
Delphi (DLPH) trading 1,050 November $87.50 calls $5.80 down to $5.50, though looks buyer initiated and likely adds to the 1,275 in OI, recently announced plans for a spin-off
Whiting Petro (WLL) large opening trade for 16,000 July $8 puts at $1.15, smaller Oil names struggling as prices remain under pressure. Goldman cut shares to Sell today expecting the company to disappoint on volume growth and deleveraging expectations.
May 23, 2017
Google (GOOG) with 1,000 September $1,000 calls bought today for $20.50 to $20.60 to open
American International (AIG) seeing 3,050 November $65 calls open today $1.59 to $1.60, buyer initiated, stock consolidating above $61, recently announced a new CEO
Dynegy (DYN) with 6,000 September $10 calls opening for $0.80 today as 4,000 of the June $7.50 calls close and roll out, follows bullish spreads the last two days with the company reportedly for sale. Dynegy (DYN) also seeing 1,100 July $7.50 calls bought to open for $1.50 to $1.60 as the company reportedly explores a sale
May 22, 2017
Signet (SIG) with over 1,250 October $65 calls bought from $3.90 to $4.30 today to open, although highly shorted name at 18% of the float and nearing new 1-year lows, earnings on Thursaday
Net-App (NTAP) IV climbing with 1,200 June $40 calls bought up to $1.64 this morning to open ahead of earnings on 5-24
Qorvo (QRVO) with 1,200 June $80 calls opening $2.00 to $2.20 today after recent buyers in the June $75 calls
May 12, 2017
Buffalo Wild Wings (BWLD) with 2,250 June $160 calls bought this afternoon to open from $2.60 to $2.65 and also 2,500 June $165 calls bought from $1.30 to $1.45, comes ahead of the June 2nd shareholder meeting where activist Marcato is pushing for representation
Pega Systems (PEGA) with 1,500 June $55 calls bought on the day from $1.80 in the morning and now trading $2.00 to $2.10 to open, shares strong yesterday after earnings
May 9, 2017
Newell Brands (NWL) sharp move higher on earnings this week and seeing 1,650 June $50 calls roll up to the $52.50 strike today which open at $1.05, clearing a big range which measures back to $55
Michael’s (MIK) with 3,000 June $22.50 puts bought today $1.45 to $1.50 to open, shares breaking an uptrend from the January lows today. MIK has over 10% of the float short and rising recently
May 5, 2017
Criteo (CRTO) opening buy of 2,193 July $55 calls $2.25 at the ISE, shares pulling back to retest the recent flag breakout
Nu Skin (NUS) with buyers of more than 4,400 September $55 puts for $4.70 to $5.05 today where 3,000 were bought to open on earlier this week. NUS also seeing 2,100 Jan. 2018 $60 calls open $3.90 at the ISE, appears to be opening sale
Methanex (MEOH) with 1,500 June $45 calls bought for $1.05 to $1.10 today into recent weakness, stock replacement in a strong trending name which has pulled back to the 38.2% fibonacci of the move from last Summer’s lows
May 1, 2017
Lyondell (LYB) aggressive buy of nearly 1,500 June $85 calls to open $1.75 offer with shares pulling back to long term trend support and breaking the 200 MA today. LYB with some short puts in the June $85 strike from a bull risk reversal on 2-21 and saw a January bull risk reversal bought last week, 4-24.
EQT Corp (EQT) opening sale of 4,000 June $55 puts for $1.05, shares thrashed after earnings last week and overall weak commodity environment, but a name sizable bullish OI in June, September and December
Wesco (WCC) with 1,000 June $65 calls opening $0.90 to $1.05 this afternoon into recent weakness. WCC recently upgraded at Raymond James behind strengthening industry activity and commodity inflation while CSFB out on Friday noting that while end-market growth finally occurred in Q1, margins came in soft.
April 28, 2017
Fossil (FOSL) with another 2,000 December $22 calls bought today for $1.60 to $1.70 after buyers active earlier this week, potential rebound name in the retail space and comes after positive Swiss Watch data this week
Sarepta (SRPT) bullish action continues with 1,000 August $40 puts sold to open for $5.90. Some M&A speculation this morning after the company’s CEO announced plans to step down after his contract ends.
Kellogg (K) buyer of 5,000 July $67.50 puts to open $1.25 to $1.30 with earnings struggling in the group recently
April 27, 2017
Grupo Televisa (TV) with over 23,000 May $24 puts sold to open today for $0.35, common strategy in the name over the last few months
Helmerich & Payne (HP) down over 6% today following earnings but seeing over 900 September $57.50 puts sold to open for $4.10 to $4.05 seeing a big high volume range from 2016 holding as support. HP had 1,500 of the September $70 calls bought yesterday as well.
Applied Optoelectronics (AAOI) IV climbing ahead of earnings next week, 5-4, with 1,000 May $45 calls trading from $4.80 to $5.60 this afternoon. The company pre-announced a strong quarter last week behind strong data center demand.
April 24, 2017
LyondellBasell (LYB) with 1,700 January 2018 $92.50/$70 bull risk reversals opening today for $0.70-$0.80 debit, earnings later this week. LYB said at their Investor Day on 4-5 that they may borrow up to $18B for M&A
Kennedy Wilson (KW) down 4.2% on elevated volume today after announcing a combination with KW Europe Real Estate, and seeing 2,500 December $20 puts sold to open into weakness at $0.90 with shares off lows and retaking its 200 day MA.
Abbott Labs (ABT) with 4,000 June $45 calls bought for $0.57 in a stock replacement today on the PHLX, strong name this year which saw some large insider buying in December
April 21, 2017
Incyte (INCY) with 250 more June $100 calls being bought $26.65 after 250 opened into weakness earlier this week, trying to hold the 20 week EMA, and also seeing 250 Jan. 2019 $175 calls sold to open for $7.50, one of the names BAML noted as a potential Gilead (GILD) M&A target this morning
Mellanox (MLNX) shares in a bull flag under $52.50 and today 700 September $52.50/$60 call spreads are bought for $2.65. MLNX will report next week and still has 1,750 May $52.50 calls in open interest
April 20, 2017
EQT Corp (EQT) with 1,000 September $75 calls trading for $1.30 today and name which has over 11,000 of the September $70 calls in open interest from recent buyers
CSX Corp (CSX) shares higher by more than 6.5% today following earnings, a surprise boost in coal shipments up 3% and intermodal strength up 1% while outlining key efficiency programs under new CEO Hunter Harrison. Today, 2,380 July $52.50 calls are opening for $1.55 seeing further gains
Tronox (TROX) shares moving to the day’s highs with 800 May $17 calls bought up to $0.89 to open and follows buyers in the $14 calls yesterday over 650X and some unusual August call spreads recently.
April 18, 2017
Visa (V) buyer of 6,000 June $95 calls at $1.00, a name with a ton of bullish options action recently, Goldman out positive into late April earnings seeing Visa Europe synergies and strong payments data
Moelis (MC) showing some unusual strength today up 3% ahead of earnings next week, 4-25, and today 1,000 October $40 calls open for $1.80, 35X average volume
Welltower (HCN) with 3,000 May $75 calls opening this aftenroon for $1 as the April $70 calls close at $4.45 and roll out, strong trend higher recently and shares on the day’s highs
April 13, 2017
Inphi (IPHI) with 600 July $50 calls bought $2.10 to $2.20 in early action with 1,000 July $40 and 1,500 July $50 calls in OI, a small cap growth Semi that makes one of the nicer M&A targets for data center exposure
Regeneron (REGN) with 500 April 28th (W) $375 calls opening for $8.00 this morning, shares on the highs. UBS recently raising their PO to $446 on better than expected Dupixent pricing
April 12, 2017
Ambarella (AMBA) moving off the day’s lows as 1,250 January 2018 $55 calls trade from $6.50 to $6.82 and follows recent buyers in the $60 calls over 2,000X
SS&C Tech (SSNC) strong chart with shares pulling back from recent highs and today over 950 July $40 calls bought up to $0.65 to open, trading over 4X average today with IV steady higher
Ciena (CIEN) buyer of 5,000 July $23 calls to open at $1.03, rolls out of June $25 calls, shares dragging lower since last quarter’s earnings and trading beneath its 200 MA
April 11, 2017
L Brands (LB) buyer of 8,000 May $50 calls for $1.45 to $1.60 to open, shares moving to the highs of the day. LB has seen some sizable longer-term January 2019 $60 calls accumulate into weakness as well
Ascena Retail (ASNA) with 10,000 Jan. 2018 $5 calls bought $0.60 to open, beaten up retail name that could have some strategic value trading 8.4X Earnings and 5.4X FCF. ASNA has 10,000 September $6 calls in open interest from recent buyers as well and a top holding for Golden Gate Capital who has done PE deals in retail before
April 7, 2017
Trinity (TRN) with buyers of 3,750 May $27 calls for $1.75 today as the April calls roll out, name which has seen more than 10,000 January 2018 $30 calls bought recently
Coca Cola (KO) June 2018 $40 puts opened 3,000X near $2.05, looks to be another opening sale in a stock replacement, popular strategy in the name for months now
Dolby Labs (DLB) unusual push higher today up more than 4% and seeing the May $55 calls bought nearly 1,000X to open up to $1.55. DLB has over 7,000 June $55 calls and 2,000 June $50 calls in open interest. IV30 is up 6.8% and May skew starting to curl higher, bullish indicator.
April 6, 2017
Trip Advisor (TRIP) large opening buy of 1,700 Jan. 2019 $50 calls at $6.50, a name that has seen some large opening put sales into weakness and some large call buys
Twenty First Century Fox (FOXA) with 3,000 May $32 calls opening $0.60 to $0.65 and shares pulling back after recently breaking out of a narrow range. FOXA has over 11,000 July $33 calls in OI from recent roll up
Snap (SNAP) spread buys 1,000 October $22/$27 call spreads for $1.30 debit and selling the $17 puts for $1.60, small net credit for the position willing to own shares at the IPO price level
April 5, 2017
One Main Financial (OMF) with 2,500 May $24/$28 call spreads bought today for $1.10. The company coming off a strong quarter and Wedbush recently upgrading to Buy seeing last quarter’s improvement in delinquencies a positive read-through for trends in net charge offs throughout the rest of 2017
IBM Co (IBM) with 10,000 October $195 calls opening for $2.12 today on the PHLX as the July calls close and roll out, nice base forming at the 50-day with earnings in mid-April. IBM also trading 7K weekly $177.50 calls to open near $0.25
April 3, 2017
Priceline (PCLN) with 1,000 April $1,800/$1,810 call spreads bought for $2.70 debit to open today into pullback to the 13-EMA
Macerich (MAC) with 5,000 June $75 OTM calls bought $0.40 to $0.45, name that rejected a takeover approach last year
Banc of California (BANC) with 1,500 July $19 puts bought for $1.15 to open, name which had some red flags last year with a whistleblower alleging the company had engaged in mortgage fraud
March 31, 2017
Potlach (PCH) unusual buy of 1,080 May $50 OTM calls at $0.45 in contracts with no bid on the open. PCH is coming off a strogn quarter and trading back near highs, the timberlands REIT trading 24.55X Earnings, 3.1X Sales with a 3.3% yield with housing strong and lumber prices rising could be a consolidation target
Ultra Clean (UCTT) with 2,000 April $15 calls opening for $1.80 today, over 7X average with IV30 up 10.5%. The $530M maker of test production tools for semiconductors trades 12.14X earnings, 0.94X sales, and 10X cash with 20% EPS growth.
March 30, 2017
Sensata (ST) buyer of 2,000 June $45 calls this morning for $1.65 to $1.70, stock replacement, where more than 1,400 were bought yesterday to open, large Sept. spread from last week in OI as well
Lululemon (LULU) shares down 21% after earnings and multiple downgrades but a trader steps in and sells 2,500 Jan. 2018 $45 puts to open for $3.35, willing to own shares near the November 2015 lows
Tronox (TROX) strong today on the highs and 1,000 April $20 calls bought to open, name with some unusual August call spreads in OI recently
March 29, 2017
Raytheon (RTN) shares pulling back to the 50-EMA this week and this afternoon a trader sells to open more than 5,400 May $145 puts for $1.85 down to $1.75
Dicks Sporting Goods (DKS) spread this afternoon sells the June $45 puts to buy the $49/$55 call spread, 4,500X at a $0.40 net debit and follows a ratio call spread bought in the name yesterday
EnCana (ECA) buyers of 7,500+ April $11 calls at $1.05, name with sizable bullish positions already in OI, interesting name with BHP seeking Oil & Gas acquisitions
March 28, 2017
Cypress Semi (CY) with 2,500 May $15 calls opening for $0.82 to $0.83 today, looks to be rolling out of the April $14 calls into recent strength and Analyst Day today, report this morning the company is raising prices on certain flash products
Euro Stoxx 50 (FEZ) with a buyer of 5,000 May $37 calls for $0.88 today and follows some recent bullish flow in the name out to August. Weighted toward Total SA, Anheuser-Busch, Siemens AG, SAP, and Sanofi
Coty Inc (COTY) with 10,000 November $17 puts sold to open today for $1.35 down to $1.26, the company working to integrate their transformational acquisition of P&G’s beauty products.
March 27 , 2017
Ciena (CIEN) with 2,500 June $25 calls bought for $0.99 to $1 today, same spot where buyers weer active on Friday and has over 4,500 of the July $25 calls in open interest as well
Salesforce.com (CRM) on the highs of the day and 2,500 May $85/$90 call spreads trade for $1.20 debit on the PHLX
Best Buy (BBY) with 1,000 May $47 calls bought to open $1.41 to $1.45, recovered quickly from an earnings sell-off and seen benefitting from the HH-Gregg closing, nearing a move out of a long base. Upgraded at Piper this morning who also note that Sears closures could help BBY comps as well.
March 15, 2017
Tesaro (TSRO) with 400 April $135 puts sold to open early for $5.00 to $4.40 into recent weakness following AstraZeneca’s Lynparza data yesterday. Tesaro (TSRO) now with 1,000 June $190 calls opening for $5 as the March $150 calls bought on 1-18 close and roll out
KKR & Co (KKR) with buyers of 5,975 June $19 calls for $0.55 to open today, strong trend since November and shares flagging under $18.50 since early February
American Air (AAL) May $42 calls active all day into weakness after nearly 5,000 bought to open yesterday, traders today paying $2.15 to $2.45. AAL shares have pulled all the way back to its 200 day MA
March 14, 2017
Finisar (FNSR) weak recently following earnings but today 3,000 April $26/$30 call spreads are bought to open for $1.05 to $1.10. FNSR shares trying to hold the 50% Fibonacci from the May lows to recent highs at $26.
Philips 66 (PSX) with 570 January 2019 $80 calls opening from $7.56 to $7.85 with shares trying to base after recent pullback and follows steady accumulation in the June calls.
Halliburton (HAL) rebounding after the call sweep in Oil Services (OIH) and crude bouncing back a bit, a trader sold 1,000 October $45 puts to open $2.59 into weakness
March 13, 2017
Life Storage (LSI) with a block of 1,000 June $85 puts bought for $5.10 to open this morning but tied to stock, name which already has 1,500 of the June $90 puts in open interest and large September puts as well
Johnson & Johnson (JNJ) buyer of 800 Jan. 2019 $145 OTM calls to open at $3.20 offer, aggressive purchase, strong name since the Actelion purchase
New York Times (NYT) with 1,000 October $16/$13 bull risk reversals bought this morning for $0.25 debit on the PHLX, unusual size for the name which recently traded to 2-year highs
March 10, 2017
Century Link (CTL) with 1,000 January 2019 $20 calls bought for $3.80 in a stock replacement on the PHLX, working towards their $34B merger with Level 3 (LVLT)
Lumentum (LITE) buyer of 1,000 April $48/$39 bull risk reversals for $1.55 debit in a stock rplacement this afternoon and follows recent buying in the ITM September calls
WPX Energy (WPX) with 1,500 August $12 puts sold to open for $1.40 today with bullish action all week in the name into Energy weakness
March 8, 2017
Aevi Genomic Medicine (GNMX) buyer of 5,000 April $5/$10 call spreads this morning for $1.50, unusual size for the name. The company is expecting Phase 2/3 data for NFC-1 SAGA for the treatment of mGluR mutation positive ADHD sometime in Q1.
Simon Property (SPG) shares weak today and trading back near support of a ten point range which stretches back to November. A trader earlier sold 500 January 2018 $220 calls for $0.92 to buy the $160/$140 put spread, net debit of $4.24
Impax Labs (IPXL) with 1,000 June $12.50 calls bought for $0.55 to $0.60 to open here, Reuters reporting yesterday they hired Morgan Stanley to conduct a strategic review
March 7, 2017
Jet Blue (JBLU) with 5,000 April $19 calls opening for $1.05 today on the PHLX in a stock replacement, shares coiled under the 50-EMA and lagging the rest of the group recently
Pentair (PNR) unusual buyer of 1,000 April $60/$65 call spreads $1.24 at the PHLX and ISE. The $10.7B Industrial trades 15.55X Earnings, 2.2X Sales and 21.4X FCF with a 2.34% dividend yield. PNR recently sold its valves and controls unit to Emerson (EMR) and RBC raised its target to $70 seeing the cost controls and debt pay-down favorable.
March 6, 2017
Jack in the Box (JACK) aggressive buyers of 1,500 March $95 calls for $2.15 to $2.20 to open this morning with shares moving to session highs, shares trying to hold the $92.50 level after gapping down on earning
Antero Resources (AR) with 975 April $25 calls opening today between $1 and $1.05 with shares climbing to the day’s highs. AR shares have been range bound since November under $26.50
Kansas City Southern (KSU) with 1,250 April $90 calls opening for $3.05 today, rolling out of the March $90 calls, an underperforming rail with overhangs from Trump’s Mexico stance
March 3, 2017
Cooper Tires (CTB) shares flagging with 1,250 April $42 calls bought to open today at $1.20. CTB recently rose on the ITC voiting to cancel tariffs and countervailing duties on imported Chinese truck and bus radial tires. CTB also crushed estimates when it reported on 2/17
Leucadia (LUK) shares rallying to the day’s highs with buyers of 1,180 April $25 calls for $2.00 to $2.05 and then 1,800 of the April $26 calls for $1.30 to open, unusual size for the name
Coupa Software (COUP) unusual trade opens 1,000 March $30 calls for $0.50 today ahead of earnings on 3-13, a small tech name which IPO’d in the Fall and has formed a big base above the $25 level
February 28, 2017
Cypress (CY) with 3,550 September $15 calls bought for $0.75 to $0.80 to open this morning with Craig Hallum out speculating that Apple’s (AAPL) reported move to USB-C in the iPhone 8 and CY’s noted ramping of production in the 2H could mean a major design win for the semiconductor
Tesla Motors (TSLA) with 5,000 September $300 calls opening today for $9.55 to $9.75 as the June $300 calls close at $4.60 and roll out, shares trading back to the rising 50-EMA after earnings
Ingersoll Rand (IR) with another 800 March $80 puts trading here for $1.50 and 1,500 on the day into the lows of the day, shares moving under the 20-EMA. Shares were downgraded at Evercore on 2-10 seeing valuation stretched at these levels until we see more clarity on tax reform, infrastructure plans, and changes in regulations
February 24, 2017
Cabot Oil (COG) down 2.3% after earnings but an early aggressive buy of 1,000 April $22 calls to open $1.30. More than 15,000 March $24 calls bought the last two days in open interest.
Scientific Games (SGMS) large buy of 5,000 Jan. 2018 $22 calls today $3.80 to open, a name seeing a lot of adjustment trades recenetly, but staying very bullish
Kimberly Clark (KMB) unusual 2,870 April $145 calls bought to open $0.45 to $0.53, some talk it could be a target for KHC and 3G Capital after failing to secure the Unilever deal
February 23, 2017
Limited Brands (LB) with 4,500 April $50 calls bought to open from $1.95 to $2.00 today into post-earnings weakness, shares down over 15%. Citi positive today into the sell off noting that temporary factors like weather are pressuring Feb. comps and long- term the stock can double over the next three years
National Beverage (FIZZ) with 1,050 June $55 calls opening for $6.80 to $6.90 as 850 of the June $48.50 calls close at $11.60 and roll higher, earnings expected in early March
La Jolla Pharma (LJPC) large spread sells 6,000 March $10 puts to buy 6,000 March $17.5/$22.5 call spreads, net $0.80 debit. LJPC is expecting Phase 3 data for LJPC-501 for the treatment of catecholamine-resistant hypotension sometime in Q1.
February 22, 2017
II-VI (IIVI) buyer of 2,000 July $45 OTM calls to open $1.20, closes out 2,000 April $35 calls at $4.00, shares coiling under highs after an impressive run from when the unusual call action started, benefitting from the optical boom
Yelp (YELP) with 2,500 January 2019 $45/$28 bull risk reversals bought this morning for $0.40 debit on the PHLX, shares trading down to October support. JP Morgan out positive this week seeing local ad growth recovering which will boost YELP’s margins
February 17, 2017
Wolverine (WWW) unusual buy of 1,275 September $22.50 puts to open $2.30 to $2.35 at the PHLX, earnings on 2-22, potential negative read-through from VFC’s Timberland unit results
Sage Therapeutics (SAGE) with 1,000 May $80 calls opening today from $9.10 to $9.20. The company’s CEO said yesterday they’ve received takeover interest but not in discussions at the moment. William Blair this morning estimated teh company could see $102/share in a buyout scenario.
Maxim Integrated (MXIM) consolidating a strong earnings move nicely and a big block of 2,500 May $45 calls is bought $1.95 offer to open at the ISE, considered a top M&A target remaining in Semi’s
February 16, 2017
General Motors (GM) volume now jumps to 10,000 March 31st (W) $37 calls opening $0.96 to $0.99 this morning, rolling out of the February $37 calls, with shares higher this week following reports the company is looking to sell its Opel unit to PSA.
PTC Therapeutics (PTCT) trades 1,000 April $20/$10 bull risk reversals to open at $0.70 debit at the ISE after a bunch of September put sales yesterday. CSFB note this morning saying the stock can trade to $80-$100 on positive CF data, expectations are low.
February 15, 2017
Rockwell Automation (ROK) with 1,500 March $150/$140 put spreads bought this morning for $2.30 to open on the PHLX, likely protective with the recent rally in shares since November and comes ahead of Schneider Electric report tonight.
Macy’s (M) with a buyer of 2,750 January 2018 $37.50 calls for $2.20 on the PHLX with recent talk of Hudson Bay approaching with an offer. M will report on 2-21.
Micron (MU) buyers of 2,000 ITM March 3rd (W) $22.50 calls for $1.02 to $1.04 this morning with shares pulling back to just above the 50-EMA. Cleveland Research out positive yesterday seeing PC/data center DRAM pricing +25%+ Q/Q and also better NAND pricing.
February 13, 2017
Archer Daniels (ADM) rolling over after popping despite a very weak quarter and seeing 2,000 March $43 puts bought at $1.00 as 1,000 of the February $46 puts close
Macy’s (M) spreads active this morning with each of the May $35 calls and $30 puts trading 5,000X, structured as bull risk reversals with shares up this morning after Barron’s forecasted 50% upside in a deal scenario
Caterpillar (CAT) with the March $97.50/$92.50/$87.50 put butterfly spread opening 3,500X7,500 today into strength, targeting pullback to the 50-EMA
February 10, 2017
Ctrip.com (CTRP) shares showing strength today up over 3% and 1,085 March $43 calls opening throughout the morning from $2.40 up to $2.85 and still has bullish open interest in the March $44 calls from December
Imperva (IMPV) buyer of 2,000 March $50 calls aggressively $1.25 offer after 2,000 June $47.5 calls bought to open yesterday after shares jumped sharply on earnings. IMPV was working with Qatalyst to explore a sale last year
Carters (CRI) with 2,500 March $80 puts bought for $2.10 to open with earnings expected in late February. Shares have been weak recently down to $81 support. CRI could see read through from Target’s (TGT) recent cut to their outlook as CRI has exposure to their stores.
February 9, 2017
Dollar Tree (DLTR) with 5,600 May $82.50 calls bought from $3.10 to $3.60 into the recent lows, shares trying to work out of a base ahead of earnings in early March
SuperValu (SVU) with 10,700 April $4 calls opening for $0.25 today on the PHLX into recent lows, name undergoing a lot of structural changes including selling their Save-a-Lot business recently for $1.365B and on 1-11 the CEO noted the company is open to M&A to boost their wholesale business. Also some speculation last Summer the company could sell their Cub Foods locations to Kroger.
February 8, 2017
CIT Group (CIT) with 2,000 April $42/$39 bull risk reversals opening this morning for a small net credit into weakness, a financial which has been shifting its portfolio over the last twelve months and could continue asset sales this year
Aaron’s (AAN) with earnings on 2-17 and seeing 2,700 February $29 puts bought to open from $0.95 to $1.05 this morning and follows an ugly warning from peer Rent-a-Center (RCII) on 1-19
Monster Beverages (MNST) with 3,500 February $44 calls bought from $0.65 to $0.75 to open ahead of Coca Cola (KO) report tomorrow morning
February 7, 2017
Tupperware (TUP) with 1,250 March $60 puts bought from $2.05 to $2.15 to open today into recent strength, coming off a mixed quarter and name which can be susceptible to FX moves with a lot of non-US exposure. Short interest is 12% and rising slightly the last two months.
Merrimack (MACK) with 1,500 September $3 puts sold to open for $0.55 down to $0.50, name which has some notable 2018 catalysts including Phase 2 data for MM-141, a treatment for front line pancreatic cancer, and Phase 2 data for MM-121 in NSCLC.
Schwab (SCHW) with 3,000 September $41 calls opening today for $3.10 on the PHLX in a stock replacement, shares down to the 50-EMA after cutting trade commissions last week
February 6, 2017
Van Heusen (PVH) with 500 March $85 calls opening $5.56 to $5.60 this morning into recent weakness, name which Wells Fargo said could be a dark horse bidder for Kate Spade (KATE)
Hain Celestial (HAIN) buyer of 1,200 August $40 calls to open $3.45 at the PHLX with shares weak down 1.8% early and despite all the ugly price-action, options flow staying bullish in the name, also inverted IV Skew for February and March
Cadence Design (CDNS) unusual buys of 1,500 May $32 far OTM calls $0.55 to $0.65, shares up big last week on results
February 3, 2017
Chemours (CC) with 5,000 April $29 calls bought for $1.80 to open today as the $25 calls close and roll higher, a position which has been rolled out once before. CC a strong chart with shares near new highs ahead of earnings on 2-15. CC also a potential beneficiary of the Huntsman (HUN) capacity issue after facility fire.
Lincoln National (LNC) with 1,000 February $70 calls bought this morning for $1.35 on the AMEX with shares in a bull flag under recent highs. The $15.66B insurance company trades 9.79X earnings and 0.97X book with a 1.69% yield.
February 2, 2017
Air Methods (AIRM) with 1,500 April $40 calls bought for $2.80 and 300 July $40 calls bought for $3.50 with reports yesterday the company exploring a sale
Range Resources (RRC) with 4,000 March $34 calls bought today as shares put in a nice reversal candle, natural gas names strong today
Express Scripts (ESRX) with 1,500 April $65 puts bought from $3.15 to $3.20 to open today with shares down 4%. ESRX shares have traded weak since mid-November with concerns about drug pricing.
February 1, 2017
Agios Pharmaceuticals (AGIO) with 1,000 August $60 calls tradubg $3.60 today with the company expected to file an NDA for AG-120 for the treatment of relapsed/refractory AML sometime this year. AGIO had small buyers of 500 May $60 calls on 11-14 which remain in open interest.
EP Energy (EPE) with 4,200 February $6 calls bought to open for $0.20 this morning and recently a bullish 3-way spread in the January 2018 options as well. The company announced a Permian drilling JV with Wolfcamp last week.
Celgene (CELG) moving to the highs of the day with 1,000 February 24th (W) $116 calls bought for $3.29 to $3.30 to open targeting a 2-24 PFUDA for Revlimid.
January 31, 2017
COMSCORE (SCOR) with 1,800 March $30 calls bought $4.20 to $4.40 after recent unusual buy of 1,000X. The $1.88B cross-platform measurement company of audience metrics and consumer trends trades 27X earnings, 5.1X sales and 3.29X book with a strong technical setup under recent highs. Short interest is 9.88% of the float and rising since August when it was 6.4%.
Fortress (FIG) with 2,000 September $5 calls bought for $0.65 today where 3,000 opened yesterday, trading 7X average volume. The $2.07B asset manager trades 6.56X earnings, 2.38X book and 5.9X cash with a 6.7% yield.
Weight Watchers (WTW) with 1,500 July $15/$20 call spreads bought for $0.75 to open today, volatile name which tends to move on headlines and Sidoti recently with a big $28 price target for shares seeing a refreshed advertising push with Oprah benefitting sales.
January 27, 2017
Tractor Supply (TSCO) with 3,000 February $75/$80 call spreads bought for $1.55 into earnings on 2-1. Oppenheimer out positive this morning seeing normal weather and better prices for oil and farm-related commodities boosting Q4 sales
Go-Daddy (GDDY) opening sale of 1,000 February $35 puts $1.25 to $1.23, and has seen 2,000 February $35 calls open this week. GDDY shares are trying to work out of a long base above its rising 20 week EMA and report son 2-15. The company recently announced a key deal for Host Europe for $1.82B
Charter (CHTR) with 1,170 March $335 calls opening today from $7.21 to $7.85 as the February $310 calls close and roll out, strong week with the reports of Verizon (VZ) interest yesterday
January 26, 2017
US Foods (USFD) unusual 1,500 April $30 calls bought $0.55 to $0.60, many see Sysco (SYY) taking another run at it
Banc of California (BANC) with 1,000 March $16 puts bought for $1.20 to $1.25 to open this morning with earnings expected in early February and name with some red flags recently. BANC had 3,000 Feb. $15 puts bought on 1-18 to open.
SM Energy (SM) unusual with IV rising 10% this morning and earlier the 4,000 February $40 OTM calls bought and now a 3,500 block buys at $0.50 while 1,500 March $40 calls also trading. The company started Buy at BAML earlier this month having undergone a significant transition shedding over $2B in assets and refocusing on their Permian Midland assets, a hot area.
January 25, 2017
Buffalo Wild Wings (BWLD) buyer of 1,000 March $165/$145 bull risk reversals for $1.20 on the PHLX with Marcato involved in the name and pushing for strategic actions, earnings on 2-7.
Cornerstone OnDemand (CSOD) buyer of 2,500 March $45/$50 call spreads for $1.25, company exploring a sale and reporting earnings on 2-13. Piper out positive this morning raising estimates and thinks the recent challenges for the company are transitory.
January 24, 2017
CarMax (KMX) with 1,800 March $70 calls bought $2.12 to $2.20 to to open this morning with shares hitting new 1-year highs this morning ahead of Motor Vehicle Sales next week.
DuPont (DD) with 3,000 April $75 calls trading to open this morning for $2.83 following a strong quarter this morning and expecting Dow Chemical (DOW) merger to close in the 1H of the year.
CSX Corp (CSX) with 3,000 March $47 calls opened $1.70 after 3,000 of the $46 calls opened yesterday, target raised at BAML this morning as investors see upside in the potential activist/management situation brewing
January 23, 2017
Marathon Petroleum (MPC) pulling back to the 50-EMA and basing the last week, strong since November when Elliott disclosed a stake, and today bullish spreads trading 2,000X buying the July $52.50 calls and selling the April $45 puts for $0.90
Sprint (S) on the highs of the day with 4,275 May $10 calls bought to open for $0.67 to $0.71 after the company bought a 33% stake in TIDAL this morning for $200M and continued talk of a potential deal with T-Mobile (TMUS).
Home Depot (HD) with the February $137 calls bought this morning over 14,000X for $1.97 as it appears the February $140 calls from 11-30 close over 28,000X and roll back.
January 20, 2017
Blackstone (BX) with 15,200 January 2019 $30 calls opening for $3.30 today as the January 2018 calls look to roll out, strong recently and pulling bakc here to the 20-EMA. BX Shares are working out of a big 1-year base above $27.50.
Fairmount Santrol (FMSA) buyer of 3,500 June $15 calls to open $1.15 as February $12.50 calls close at $1. Jefferies positive yesterday seeing demand and pricing positive with nearly 225 horizontal rigs added since May
January 19, 2017
Steel Dynamics (STLD) with 1,250 May $37 calls opening early for $2.95 to $3 ahead of 1-24 earnings, best in breed steel play which was strong yesterday following Wilbur Ross comments on potential tariffs. STLD now with 1,200 February $37 calls bought $1.30 to $1.40 with the earlier May buying.
Array Bio (ARRY) unusual buy of 1,000 June $14 calls $1.15. ARRY has a 6/30 PDUFA date for binimetinib for the treatment of NRAS melanoma and the AdCom expected in the 1H.
US Silica (SLCA) buyers of 865 March $55 calls $6.30 offer in a sweep as shares break out of a bull flag. Bernstein with a positive note this morning on Y/Y gains in Northern White sand pricing.
January 18, 2017
T-Mobile (TMUS) early buyers of more than 5,900 May $70 calls up to $0.90 this morning with shares coiled above the 20-EMA. Oppenheimer out this morning seeing a greater than 50% chance of a Sprint, T-Mobile merger in 2017
Stifel Financial (SF) steady rise in IV this morning as 1,175 April $45 puts are bought from $1.85 to $1.95 to open and name which already has 1,000 April $50 puts in open interest from buyers on 11-23
Cornerstone On-Demand (CSOD) buyer of 2,000 February $45 calls $1.25 to $1.35, the company exploring a sale
January 17, 2017
Disney (DIS) with 10,000 June $125 calls opening this morning for $0.78 as the February $110 calls look to roll out, upgraded at Goldman Sachs this morning seeing ESPN headwinds abating and the FY18 film slate as one of the strongest in the studio’s history.
Best Buy (BBY) with 2,000 March $49 calls bought to open $1.71 to $1.72 and traded against sales of 1,200 March $42 puts at $1.58 and 800 March $43 puts at $1.93. BBY was a top performer in Retail last year and strong out of a base today
PACCAR (PCAR) with the February $66.90/$61.90 put spread opening 2,000X4,000 this afternoon for $0.98 debit ahead of earnings on 1-31
January 13, 2017
Owens Corning (OC) trading 2,067 calls in the opening 30 minutes, 10X average after 1,000 May $55 calls bought yesterday, and seeing those trade over 800X this morning as well as the 750 Jan $55 calls for $0.25 opened, storng building material spending seen in the retail sales report.
Acorda Therapeutics (ACOR) aggressive buy of 1,500 February $27 far OTM calls $1.60 at the PHLX, a name popular with opening put sales since October lows. The $943M biotech trades 30.14X earnings, 1.85X sales, and 7.3X cash with 20-30% EPS growth expected over the next five years. The company will release Phase 3 data for CVT-301 for the treatment of OFF episodes of Parkinson’s disease sometime in Q1 and expectations for an NDA shortly after. Institutional ownership rose last quarter, Baker Bros. a notable holder with 3.5M shares and short interest in the name is over 13% but falling in 2016 from over 25%. On the chart, shares are forming a bottoming pattern under $22 and a series of higher lows from the November sell off. Shares have been in a downtrend since December 2015 when shares traded as high as $42.50.
January 12, 2017
Tiffany (TIF) showing strength this morning following strong Holiday sales from Richemont and 1,000 May $82.50 calls bought this morning for $3.70 on the PHLX in a stock replacement.
Assembly Bio (ASMB) unusual action with 1,000 February $12.50 puts sold to open $0.60 to $0.55, announcing earlier this week a licensing agreement with Allergan (AGN). The $227M Co. focuses on oral therapeutic treatments of HBV
Liberty Global (LBTYA) with 1,585 April $37.50 calls bought this morning up to $1.25 and still has size in the January $35 calls with more than 7,000 in open interest. LBTYA shares have traded strong in 2017 and nearing resistance of a nearly 1-year long range.
January 11, 2017
State Street (STT) strong since early November and holding the 8-EMA today with more than 2,200 February $80 calls opening $3.80 to $4.25. STT upgraded to Buy at Goldman on 1-4 seeing expanded margins from NIR, FX trading, and lending in 2017.
AmerisourceBergen (ABC) large buy of 2,500 May $72.50 puts at $2.50 offer at the PHLX as drug pricing scrutiny is back in focus; now peer McKesson (MCK) also with 1,000 February $130 puts bought for $2.20 to open
January 10, 2017
Charter (CHTR) with 1,000 March $300 calls opening for $12.20 this morning and shares moving to session highs now. CHTR had 3,500 Jun $305 calls bought on 1-4 to open and name which could see notable earnings impact from Brighthouse and Time Warner synergies in 2017.
JD.com (JD) with 5,000 March $27 calls bought up to $1.55 today with IV climbing, name continues to draw bullish flow as shares consolidate in a large wedge. JD was upgraded at JP Morgan yesterda behind expectations for a 3P growth recovery in FY17 and could see Wal-Mart (WMT) continue to raise their ownership stake.
Rent-A-Center (RCII) buyers of more than 5,900 February $10 puts for $0.90 and name with sizable March $12.50 and $10 put open interest. RCII CEO Davis resigned last night and the company starting a search process immediately.
January 9, 2017
Gogo Wireless (GOGO) with 1,120 May $10 calls bought $0.95 to $1 to open this morning, name which saw some insider buying from CEO Michael Small in November of more than 50,000 shares.
Ambac Financial (AMBC) buyers of 2,000 May $25/$30 call spreads at $0.95, a name with activist pressures and targeting the annual meeting
Rockwell Collins (COL) bouncing off lows here as 1,250 January $90 calls bought $2.90 to $3.00, has significant OI after being pushed to sell itself instead of buying BEAV
January 6, 2017
Fiat Chrysler (FCAU) with 5,000 February $11 calls opening this morning as the Feb. $9 calls roll up. Shares upgraded to Conviction Buy at Goldman Sachs this morning with the firm seeing a better NAFTA price mix as they shift away from mass-market cars and towards more profitable vehicles
Workday (WDAY) buyer of 800 March $72.50 puts to open at $4.80 with share rallying to start the year, back near the large earnings gap
Callaway (ELY) with 1,560 February $11 puts bought this morning ahead of the PGA Merchandise Show in the last week of January where they’re expected to unveil new Drivers
January 4, 2017
Newell Rubbermaid (NWL) with a potential double bottom at $44.50 and moving higher today with 1,000 February $46 calls opening $1.45 to $1.75, a name with 4,500 June $40 ITM calls bought that sits in open interest and also seen a good amount of insider buying
Sparton (SPA) with 1,100 February $22.50 calls opening $2.40 today as the January $20 calls roll out, a name which has been exploring strategic alternatives for months
ZTO Express (ZTO) a Chinese express delivery name that has moved down to lows and seeing 825 April $12 puts sell to open $1.10 to $1.05 today seeing limited downside. Shares trade 18.4X Earnings
January 3, 2017
Gilead (GILD) with 2,000 February $77.50 calls bought from $1.45 to $1.47 this morning after positive IMS Health data on hep C prescriptions in Q4
Vulcan Materials (VMC) with an opening sale of 3,500 January $120 puts for $0.85 to $0.75 this morning, likely a major beneficiary of new infrastructure spending and drive for more aggregates
Regeneron Pharma (REGN) shares up 2.9% and holding near highs as market pulls back, a buyer of 500 Jan. $380 calls to open $10.60 to $11 earlier for a $550K trade
September 20th, 2016
Mellanox Tech (MLNX) a name struggling since March but a trader opens 500 March 2017 $48/$34 bull risk reversals at $0.30 debit, and a name that has seen some unusual call buys and could make a nice M&A target. The $2B company trades 10X Earnings, 2.6X Sales and 17.7X FCF with strong growth and impressive margins.
Alexion Pharma (ALXN) buyer of 500 Jan. 2017 $100 deep ITM calls at $33.60, same spot with 1,500 recently bought, and similar action in deep ITM BioMarin (BMRN) Jan. 2017 calls, both rare disease plays
August 9th, 2016
Tesaro (TSRO), a Biotech that surged on data in June and immediately saw a ton of opening put sales showing a willingness to buy the stock on even the slightest of weakness, seeing a nice range breakout today and a buyer of 500 Jan. 2017 $110 calls for $8.45 in a stock replacement. RW Baird initiated shares Outperform in July with a $105 target, and Wedbush last week with a raised $107 target, seeing its aggressive launch strategy for niraparib putting it in first-mover position in second line ovarian cancer, and also notes TSRO is an acquisition target.
Hilton (HLT) seeing similar action as yesterday with buyers active in September $25 calls for 4,000X after 5,000 opened 8/8, and sellers active for 4,750 September $23 puts after 8,000 sold to open on 8/8
Hain Celestial (HAIN) sweep of 1,500 September $55 calls for $1.75 to $1.90 to open this morning, shares on the session highs and name with M&A talk recently. HAIN one of the names exhibiting inverted skew for August and September
August 4th, 2016
TJX Co. (TJX) big buyers coming into August $82.50 calls 3,550X up to $1.40, a top performing Retailer
General Mills (GIS) buyer of 3,500 January 2018 $70 calls for $5.66, rolling from the January 2017 $65 calls which close at $6.71. The $41.75B packaged foods company trades at 20.24X earnings and 2.52X sales with a 2.75% dividend yield and mid-single digits EPS growth. In May, the company was noted as a potential acquisition target for 3G Capital as they drive consolidation in the food industry.
Energy Recovery (ERII) unusual buyers of 1,050 February $10 calls for $2.75 to $2.95 this morning to open, shares on the highs up 16.3%. The $540M provider of equipment for water and energy markets trades 36X earnings and 7.8X FCF with limited debt and 20% EPS growth. Short float is 13.86% and rising since April although down overall from 3-year highs over 20%.
Puma Bio (PBYI) seeing unusual opening buys 430 March 2017 $55 calls $11.20, over $480K. PBYI jumped in July on positive Phase 3 breast cancer data and earlier this week December $50 puts sold to open 150X at $10.50 as well and longer term skew showing a flatter slope. The $1.56B Biotech does have nearly 35% of its float short, rising since 2014.
July 22nd, 2016
Reynolds (RAI) buyer of 1,000 January 2018 $52.50 calls at $4.30 at the ISE.
July 20th, 2016
Target (TGT) sweep buyer of 5,000 September $77.50 calls to open at $0.79 to $0.81, earnings on 8-17, and shares moving above its 200 day MA today
Seres (MCRB) unusual buyer of 1,000 August $25 puts $2.50 to $3.20, IV sharply higher. MCRB a Biotech that also has 1,200 October $20 puts in OI. SER-109 data due late July or early August, a drug for prevention of multiple recurrent C. Doff infection.
Cummins (CMI) with 3,055 August 5th (W) $119 calls bought to open $2.37 to $2.47 as July 29th (W) $120 calls roll out, captures 8-2 earnings. CMI shares forming a tight weekly bull flag and nearing a breakout, some encouraging results from Wabco (WBC) this morning in commercial vehicles
Inphi (IPHI) opening buy of 1,200 September $35 calls $2.40 offer at the PHLX, a small cap growth name with a focus in the data center, reports on 8-8, but INTC results can be a catalyst
July 14th, 2016
MAXIMUS (MMS) with 1,000 August $60 puts bought from $2.65 to $3.00 today, unusual size for the name and shares on session lows. Shares are getting a bit extended with recent run higher and trading against a big gap from November.
Skyworks Solutions (SWKS) now seeing buyers of August $72.50 calls up to $1.25 for 3,500+ contracts, another Apple supplier like QRVO. SWKS now with 2,000 August $65 calls opening for $4.70 offer, follows over 5000 $72.50 calls opening earlier
Agrium (AGU) trading 9X daily calls with bullish flow as 1,700 each of the October $100 and $105 OTM calls being bought to open at $2.75-$2.85 and $1.40 respectively, earnings on 8-3. AGU shares are breaking out of a 15 point pattern this week that targets a move to $110.
BioMarain (BMRN) early this morning with a buyer of 200 August $125 calls for $1.10, and also seeing 500 Jan. 2017 deep ITM $60 calls bought at $30.50, a spot where 1,500 have bought this week, 500 contracts every day
July 13th, 2016
Alibaba (BABA) opening sale of 13,500 October $82.5/$80 strangles for $7.35
Intel (INTC) with afternoon buyers of 10,000 October $36 calls at $0.98 to $1, a name seeing sizable call buying daily ahead of 7-20 earnings.
MasterCard (MA) August IV rose through the late afternoon as 5,000 August $92.50 calls were bought to open $1.30 to $1.39.
Citrix Systems (CTXS) block of 1,500 September $90 calls opened at $1.70 at the ISE, a big winner on earnings lately trading higher the last 6 reports.
July 11th, 2016
Twitter (TWTR) large buyer of 20,500 January $22 calls for $1.20 offer in a stock replacement. Shares have moved back to the pre-earnings levels from April at $18 last week but down today after Sun Trust’s Bob Peck downgraded shares on user growth, engagement fears
Shopify (SHOP) shares moving back towards highs and a break above April/May levels, a name seen as a top takeover target. SHOP is seeing buys of 500 August $30 calls today $2.82 to $3 and 250 Jan. 2017 $40 calls at $1.60
Mobileye (MBLY) large adjustment trade as the 5,000 July 22nd (W) $40 calls are closed $8.65 at a large profit and rolled up to 8,000 of the $49 strike calls bought $1.45, while 2,000 of the August 5th (W) $52.50 calls also bought to open $1.20 offer in a sweep. MBLY will report in early August and remains a top way to play the ADAS growth theme
Xilinx (XLNX) with 1,950 August $48 calls bought $1.21 to open at the PHLX, earnings 7-27 and a name often mentioned as a likely M&A target. XLNX Aug $48 calls up over 2,700 trading on the day now
July 7th, 2016
Alliance Data Systems (ADS) a weak name the past few weeks and seeing 650 August $190/$175 put spreads bought today, targets 7-21 earnings, and shares with a weak bounce back to the 20 EMA the last few days
Alkermes (ALKS) shares running strong today and clearing June highs, seeing unusual options activity as well with 300 November $45 puts sold to open $4.70 to $4.60 and 425 February 2017 $50 calls bought to open $6.40. Evercore ISI started ALKS at Buy on 5-26
Sherwin Williams (SHW) back near April highs when it announced its large deal for Valspar (VAL), and seeing September $300 calls active this morning with 450 bought in smaller lots at $11.20 to $12.90
NetSuite (N) buyer of 200 October $80 OTM calls $5.50 to $5.70 as the company continues to attract unusual OTM call buys, much of which follows a recent Oracle (ORCL) $14B bond sale, with N seen as a likely target
July 5th, 2016
Lions Gate (LGF) buyer of 1,500 January 2017 $18/$25 call spreads for $2.10 at the PHLX, the Company announcing a deal for Starz (STRZA) last week and been under pressure. LGF had a large opening sale of 7,500 August $18 puts into weakness last week.
Chipotle Mexican Grill (CMG) strategist targeting July 21st earnings with July 22nd (W) options as 500 $350 puts being sold to purchase 500 of the $400/$440 call spreads.
MasterCard (MA) rising with Visa (V) and seeing opening buys of 2,075 July 29th (W) $91 calls $1.25 to $1.31
June 28th, 2016
Innoviva (INVA) large opening sale 10,000 December $7.50 puts $0.55 to $0.50, usually a very good signal in small Biotech names. On 5/26 the September $10 puts were sold to open 10,000X at $0.75 and remain in OI. On 6-20 it reported positive COPD study results, partnered with Glaxo (GSK). Baupost Group showed a new 19.8M share stake in INVA in Q1 filings. INVA was formerly known as Theravance (THRX).
June 27th, 2016
Kate Spade (KATE) with 7,850 August $20 calls bought to open $1.15/$1.20 after calls in October at multiple strikes closed.
McDonald’s (MCD) trade puts on 3,000 January 2017 $125/$105 bull risk reversals at a $0.70 credit at the CBOE today, will confirm OI tomorrow
EOG Resources (EOG) buyers of 1,000 October $90 calls at $2.17, same contracts saw buyers Friday, and shares holding up well near lower end of recent range
Visa (V) trying to rally in the face of a market decline early with 600 July $74 calls bought $2.03. Visa (V) trader adjusting a position here closing 4,000 July 29th (W) $78.50 calls and 5,000 of the July 29th (W) $78 calls, opened on 6-17 and 6-20, to open 5,000 July 29th (W) $77 calls for $1.45
June 21st, 2016
Dick’s Sporting Goods (DKS) nearing session lows and 1,000 December $40 puts bought from $3.36 to $3.40 to open, shares in a small bear flag and weak under the 200-MA. The company cut their FY view in May.
Hain Celestial (HAIN) also seeing 2,000 August $55 calls bought to open $1.45/$1.50 with July $55 calls also active, IV rising sharply, and follows rumors last week of potential for M&A. HAIN’s July IV Skew has completely inverted.
Altria (MO) buyers active for 10,000 September $67.50 OTM calls $1.53 to $1.55, a name breaking to new highs and has seen longer dated large call buys, some speculation it could seek a large merger in the past. MO now also with a large buy of 10,000 December $67.50 calls $2.40 at the PHLX
Edgewell Personal Care (EPC) aggressive buyer of 750 November $90 calls $3.20 offer at ISE, a name with 7,500 August $90 calls in OI.
June 16th, 2016
Energizer (ENR) a name that broke out yesterday and seeing unusual large put sales to open today, the November $45 puts sold to open 1,500X at $2.325, the November $40 puts 1,000X at $1.05 and the August $45 puts 500X at $1.10
Goldman Sachs (GS) spread buys 1,000 October $155 calls $4.40 and sells 2,000 October $120 puts $2.575 with shares trading $144. GS shares have sold off and are very oversold as the Fed delays rate hikes. GS now trading those October risk reversal spreads 3,000X6,000
McKesson (MCK) opening sale of 2,500 August $165 puts at $3.60m willing buyers back at the April breakout level and a name with 2,000 August $185/$170 bull risk reversals opened recently. MCK peer ABC also with a recent large opening put sale, so could see that group start to bottom
Fit Bit (FIT) weak today down 5.5% and losing recent range and over 4,000 August $13 puts bought up to $1.90 today.
June 9th, 2016
Patterson-UTI Energy (PTEN) with over 2,000 July $21 puts sold to open $0.80, seeing very limited downside, an Energy name up on strong volume all week and strong today
Treasury (TLT) seeing further bullish action with 3,000 September $139/$143 call spreads bought and the December $126 puts sold to buy the $136/$146 call spread 9,000X, a popular covered risk reversal strategy in this name lately
Hershey (HSY) now trading 21,000 calls on the day, 40X average, and IV30 climbing 55%, a massive IV move, after rumors earlier of potential Nestle interest in the Company. The July $100 calls saw some large block buys at $1.10 and are trading over 7,500X on the day, not the typical rumor type activity. IV Skew has also shifted with June inverted and July parabolic.
ANI Pharma (ANIP) unusual buy of 450 October $50 puts $4.10 to $4.40 to open. ANIP has a $640M market cap and sees $119M to $134M in revenues for FY16 with 81 product sin development, total market potential of $4.1B.
June 7th, 2016
Diamond Resorts (DRII), exploring strategic alternatives, and breaking out today, sees a spread buy 4,700 July $25 calls and sell 9,400 November $35 calls at net debit of $0.60
Signet Jewelers (SIG) buyers of 1,200 July $85 calls this morning from $4.90 to $5.10 to open, follows some big LEAP buyers last week into weakness from negative Grant’s mention. The trade comes after the large July call fly opened yesterday afternoon. Traders continued to buy these calls throughout the morning up to $5.30 with volume reaching above 4,500X. SIG a name that Corvex has continued to build their stake in despite concerns, recently pushing it to 8.3%
Concho Resources (CXO) one of many strong Energy names and 700 December $140 calls bought today $6.61 as September $125 calls are rolled out and up
Union Pacific (UNP) buyer of 10,000 August $90 calls to open $2.36 as June $90 and August $85 calls roll out as well as some August $82.5 calls
June 2nd, 2016
Charter Communications (CHTR)with 2,650 June $230 calls bought to open at $3.80 to $3.90 today, shares pulling back recently following closing of Brighthouse and Time Warner Cable deals
Ironwood Pharma (IRWD) with 5,000 August $15 calls bought for $0.65 to $0.75 to open, name mentioned as a possible M&A target for AGN after their PFE deal fell apart given the two already partner together
Wyndham (WYN) trader rolling 1,880 June $75 puts out to 2,350 July $70 puts which open at $3.50 offer, staying bearish the name which has been weak since earnings
June 1st, 2016
SCANA (SCG) unusual buyer of 1,000 August $75 OTM calls $0.40 to $0.50, trading 15X daily calls. The $9.95B Utility trades 16.7X Earnings and 1.8X Book with a 3.3% yield. Mizuho upgraded SCG to Buy in February seeing the VC Summer nuclear risk abating given the updated construction contract.
Tableau Software (DATA) with 1,800 June $53 calls bought aggressively to open $1.75 offers after 3,000 Jan. 2018 $100 calls opened yesterday near $2.70
Nevro Corp (NVRO) breaking out today and on session highs with 1,000 June $75 puts sold to open from $4.50 to $4.30, IV dropping with the trades. The $1.91B medical equipment company is not yet profitable but trades 18.8X sales and 8.6X book with limited debt. Short interest is 33.91%. The company will present at the Goldman Sachs Healthcare Conference on June 9.
May 23rd, 2016
Macy’s (M) January 2017 spreads 3,350X selling the $25 puts to buy the $35/$45 call spreads
Starbucks (SBUX) August $60/$45 bull risk reversals trade 5,000X to open at the PHLX for a small $0.18 debit, looking for a rebound move
PayPal (PYPL) buyer of 2,000 July $39 calls to open $1.15 offer, shares reversing after holding last week’s lows
Canadian Pacific (CP) bullish action with 825 June $135 ITM puts being sold to open at $7.80 aggressively with shares trading $128.20.
May 17th, 2016
Home Depot (HD) shares sold off this morning despite another great quarter and now have settled back a bit higher, large opening buy came in for 1,500 July $135 calls $2.80 into weakness at the ISE
Chubb (CB) an insurance name with 1,475 June $125 calls being bought to open $2.30 to $2.45
Stericycle (SRCL) large buyer of 1,000 June $95 calls $5.90 offer in an aggressive sweep. SRCL was a large addition for JANA Partners in Q1 with over 2.4M shares, 7th largest holding, and top firms Baillie Gifford and Wedwewood also buyers. Stifel was out with a note yesterday that Waste Management (WM) could look to do a deal for Stericycle that would be compelling for both sides.
Potash (POT) now trading over 10,000 of the July 1st (W) $17.50 calls to open up to $0.57. POT shares have been strong today and holding $16 support with over 1,500 December $14 puts sold to open on 5-9.
Cornerstone OnDemand (CSOD)trading 1,000 November $45/$30 bull risk reversals today to open at a small credit. CSOD with a strong report in early May and raising FY guidance. On 5-2, The Information noted that CSOD, among others, look like nice targets for Oracle who has been investing cloud software names recently.
May 16th, 2016
Steelcase (SCS) buyer of 950 October $15 calls for $1.30 to $1.35 to open, over 12X average, shares coiled since mid-March
Dollar General (DG) June 3rd (W) $83/$77 bull risk reversal opens 2,000X at $1.60 debit at the ISE, a name showing up on some notable fund Q1 adds
Bank of the Ozarks (OZRK) shares forming a bear flag and buyers today of 1,000 August $35 puts for $2.55 to $2.60 to open. Last week, 5-11, more than 2,650 June $35 puts were bought at $1.30 after Muddy Waters presented their bear case at Ira Sohn.
May 13th, 2016
William Sonoma (WSM) dragged down with retail this week though the monthly report this morning showed strength in Home Furnishings. Traders are buying 3,650 June $57.50 calls to open this morning into weakness in the $1.05 to $1.20 range, earnings expected next week but not yet confirmed.
Amgen (AMGN) bounced at support once again and now up 1.25% on the day, and buyers this morning of 740 July $145 calls $11.95 to $12.35 in a sizable sweep
Cooper (COO) a strong chart and 470 ITM June $140 calls bought $17.21 to $18, around $800K
May 12th, 2016
Advanced Auto (AAP) large opening sale of 1,000 January $155 puts for $16.90 today, company reporting on 5-19, willing buyer at the January/February lows. AAP also with 1,000 May $155 calls bought to open Monday afternoon $3.70 to $4.05
Regeneron (REGN) buyers of 1,250 June $340 puts for $8.40 to $8.60 this morning to open, sizable buys with shares on the lows of the day. REGN shares have traded in a narrow range under $420 since early February and nearing support break with biotech weak recently
Monsanto (MON) higher by 9.5% after reported interest from Bayer and trader opening 1,750 July $105/$95 bull risk reversals here for a $0.10 credit. Monsanto (MON) large spread sells 10,000 October $85 puts to open $2.75 to buy 10,000 October $105/$130 call spreads to open at $4.65. MON now with 5,000 July $105 calls at $3.65 to open, above the offer. MON another 1650 July 105 calls bought $3.75 offer now
May 10th, 2016
Best Buy (BBY) buyers of 1,950 June $33.55 calls for $1.22 to $1.25 to open into earnings in late May. BBY shares are moving back above the 50- and 200 MA today
P&G (PG) with a buyer of 1,050 July $85 puts $3.20/$3.25 with shares back near resistance, a name that posted weak results compared to peers in this latest quarter
Crown Castle (CCI) trades 1,800 January 2017 $95/$80 bull risk reversals to open at a $0.20 credit, name with bullish LEAPS action late last week. CCI strong to highs now trading 2275 of the risk reversals
May 4th, 2016
Alibaba (BABA) and Baidu (BIDU) trading similar spreads this morning to open. BABA seeing the May 27th (W) $77.50 and $80 calls each sold to open 5,000X while the June 3rd (W) $77.5 and $80 calls bought to open 5,000X. BIDU is seeing the May 27th (W) $180 and $185 calls sold to open 2,500X with the June 3rd (W) $180 and $185 calls bought to open 2,500X.
Xilinx (XLNX) large spread buys 3,375 January 2017 $44 calls to open $3.17 to $3.18, look to be rolling back 1,950 of the $50 calls at $1.01 while 1,375 June $43 calls trade $1.35 as well. XLNX shares basing near $43 after being hit on earnings, a name with some sizable put sales in OI
Anheuser Busch (BUD) trades 5,000 June $15 calls $0.80 offer and 5,000 September $140 calls $1.90 to $2 offer. BUD now with a buyer of 10,000 September $145 calls $1.45 and 10,000 December $155 calls at $1.35 as well
May 3rd, 2016
Macy’s (M) with 3,500 May $38.50 puts bought to open for $1.10 to $1.15 in a sweep, reports 5/11 and shares breaking down of a bear flag today under $39 as it coils under the 50-MA
Lincoln National (LNC) with 5,000 May $42.50 puts being bought to open ahead of earnings tomorrow $1.40 to $1.57, look to be closing around 3K May $40 puts
LyondellBasell (LYB) buyer of 10,000 June $77.50 puts for $2.00 to $2.05 as 5,000 of the $87.50 puts are closed at $6.80 on the PHLX. Shares weak since earnings in late April and under the 50-EMA on Friday. Under $81, shares have room back to major volume shelf at $78
May 2nd, 2016
General Dynamics (GD) buyer of 7,000 November $150 calls at $4, rolls out of 4,000 November $140 calls at $8.60 to $8.70
Caesarstone (CSTE) up sharply from earlier May $37.50 call buys 700X at $2.05 and now trading over 1,500 up to $2.35. CSTE will report results 5-4 and reports from Calcalist on 4/12 that Sdot Yam Kibbutz is considering selling its entire stake.
Maxim Integrated (MXIM) shares have pulled back after a solid earnings report and trying to bounce on the 20 week EMA $35.50, a buyer of 1,000 June $37 calls here for $0.90, seen as a potential M&A target
April 26th, 2016
Pioneer Natural Resources (PXD) shares 7.1% higher after reporting results last night and seeing unusual action in January 2018 with 2,990 of the $100 puts opening with sales in the $7.20 to $6.40 range, and 3,690 of the $220 calls opening with buys in the $12.11 to $13.50 range. PXD shares with a big move out of its monthly wedge in March and continuation, nearing monthly cloud break
Whirlpool (WHR) shares rebounding off the early lows and 1,000 June $180 calls are bought to open here for $4.90 to $5. WHR profits have been hit with FX headwinds the last two quarters but positive commentary today as management sees them subsiding in the 2H. WHR guided to $700-800M in FCF for the year, in-line with recent comments.
April 22nd, 2016
Nike (NKE) seeing sizable early put buying with 7,000 July $62.50 puts bought $4.10 offer to open and also trading 10,000 July $57.5 puts $1.68 to $1.70
Visa (V) trading a massive spread following earnings as 20,000 each of the May $81 and June $82.50 calls are sold to open net $0.87 credit, and the January 2018 $100/$120 call spread is bought 20,000X to open $2.40
Heartware (HTWR) with 1,000 December $35 puts trading $7.10 to open at the PHLX, earnings on 5-4 and is 9X daily put volume.
Baidu (BIDU) buyer of 1,000 April 29th (W) $197.5/$215 call spreads $4.40 for earnings 4-28, closes 1,000 weekly $190 calls $2.30
April 18th, 2016
Chart Industries (GTLS) moving to multi-month highs, a name closely tied to the Energy industry, and an opening sale of 2,500 June $22.50 puts today for $1.45, rolling out from May $22.50 puts
Signature Bank (SBNY) opening action for 1,000 May $135 puts sold to open $2.15 to $1.95 ahead of 4/20 earnings, shares nearing a move out of a large bottoming pattern
Intercept (ICPT) strategists putting on 400 May $170/$130 bull risk reversals this morning at net debits, shares consolidating after a recent breakout above $130 coupled with positive data
China Biologic (CBPO) with 450 July $135 calls bought to open at $5.10 this morning, earnings in early May. The $2.36B Co. trades 23.55X Earnings and 50X FCF with 20%+ EPS growth. CBPO call action is nearly 25% of total call open interest today, unusually active
April 15th, 2016
St. Jude Medical (STJ) unusual buyer 940 July $55 calls $4.80 to open at the CBOE, earnings on 4-20, shares breaking out above $57 earlier this week with room to $60
Endo Pharma (ENDP) with 1,350 May $27.50 calls aggressively bought $2.70 to $3 as IV jumps, rumors earlier this week of potential Allergan (AGN) interest and ENDP skew now showing a bullish bias. ENDP saw more than 5,000 May $35 calls opened this week as well
Dollar General (DG) buyer of 2,000 May $82.5/$75 put spreads at $1.63, shares trying to hold support but a move back to the 50 day EMA at $80 may be in order
April 13th, 2016
Shire (SHPG) aggressive buyers coming into June $215 OTM calls at $4.11 to $4.60 for over 1,675 contracts, a name seeing constant bullish options positioning including numerous risk reversals. SHPG up to 2,785 of the June $215 calls now trading with buyers paying up to $4.50. SHPG also with big buyers of 400 August $195 calls at $14.90 offer to open when bid-ask was $11.70-$14.90, aggressive
GlaxoSmithKline (GSK) with 2,000 January $45 calls bought for $1.35 on the AMEX, potential breakup scenario has been discussed and CEO transition schedule
Urban Outfitters (URBN) buyer of 3,500 May $30 puts for $1.63, rolling down from the $32 puts which close at $2.67 and shares showing relative weakness the last two weeks
Progressive (PGR) buyer of 6,000 May $34 puts at $1 to open, closes April $35 puts 3,000+ at $1.10, shares lower after posting a very weak EPS number
April 12th, 2016
Coca Cola (KO) with buyers of 10,000 May $46 calls, buyers aggressively paying up to $1.32 offer here with IV rising and looks to be adding to open interest. The company is set to report in mid-April although unconfirmed. The WSJ reporting recently the company is looking for a quick sale of their U.S. manufacturing and distribution businesses.
PayPal (PYPL) buyer of 2,000 May $39 calls at $1.35 here into weakness
Ariad Pharma (ARIA) shares running this morning with 2,895 June $7 calls bought at $0.55. On 4/11 the Company initiated its Phase 3 trial of Brigatinib of ALK-Positive Non-Small Cell Lung Cancer.
April 11th, 2016
Emerging Markets (EEM) big buyers of 30,000 September $36.50 calls $0.78 this morning, positive correlation with metals/Energy
Qlik Tech (QLIK) opening buyer of 1,500 August $33 calls for $1.80 on the AMEX, rolling out of May $33 position which closes at $0.50, name which Elliott Management has a large stake in and pushing for a takeover by someone such as IBM or Oracle
JC Penney’s (JCP) sizable purchase of 10,000 August $12 puts to open $2.72 offer at the PHLX, shares fading under the 50 day EMA today after sliding all last week
Greenhill & Co. (GHL) a bearish looking chart and unusual buys of 700 September $20 puts to open at $3.30 to $3.40
April 1st, 2016
Memorial Resources (MRD) unusual buys of 3,500 August $12.50 calls to open $0.65 to $0.70 after 1,400 opened yesterday, trading 40X daily calls today. MRD shares have been basing along the $9 level but have not rallied much with other Energy names, a name with 13% of its float short. MRD will present at IPAA OGIS Conference on 4-11. Raymond James upgraded shares to Strong Buy back on 2-25. MRD is expecting key drilling results in 2H 2016 after Q2 drilling as a catalyst, a name with Cotton Valley exposure and has some of the best ROR wells in the US. The $2.1B Co. trades 43.9X Earnings and 2.52X Book.
Agrium (AGU) with a large sweep buy of 1,500 July $80 puts at $2.40, trading 4X daily puts. AGU shares are down sharply with Corn the last two days and broke back under its 50 day MA after failing to sustain much of a rally.
Eli Lilly (LLY) big buyer of 1,000 January 2017 $80 OTM calls $3.70 to $3.85 with shares trading $72.40, plenty of catalysts this year with Alzheimer’s data late this year the most important
March 30th, 2016
Chemours (CC) with 2,250 May $7.50 calls being bought $0.85 to $1, 8X daily calls, a name with plenty of insider buying during its early 2016 struggles. IV is climbing sharply with the action, shares tightly coiled. The $1.3B performance chemicals Co. trades 5.5X Earnings, though a very levered balance sheet.
Mercado-Libre (MELI) with a buyer of 2,000 May $130 calls at $3.40 to open at the PHLX, appears to close 1,000 June $125 calls $5.90 and 2,000 June $130 calls at $4.20. There was a positive note overnight on new tax rules preserving MELI’s small seller advantages.
Visa (V) with the June $75 calls bought for $3.60 offer, 1750X, looks to be adding to open interest and shares breaking out past key resistance yesterday. V is awaiting EU clearance for their acquisition of Visa Europe, a positive catalyst or shares. Visa (V) now with the April 29th (W) $77 calls bought for $1.77 offer, 3000X notable bullish flow today
March 29th, 2016
Maiden Holding (MHLD) trading 35X daily calls as 3,000 November $12.5/$17.5 call spreads bought to open $1.30 at the PHLX, a name that makes an attractive M&A target
Salesforce.com (CRM) with a buyer of 4,000 May $75 calls for $1.93 to $2.02 into weakness this morning, appears to be rolling out of the April $72.50 calls
Fire-Eye (FEYE) with 1,000 April 29th (W) $17.50 calls $1.20. FEYE on day highs and trading over 2,000 of those April 29th (W) $17.50 calls on the day now
Google (GOOG) with 3,500 June $750 calls bought to open in the $25.57 to $25.88 range, rolling out a large position in April $745 calls
March 23rd, 2016
Nvidia (NVDA) with 2,500+ April $33.50 calls bought here $1.46 offer to open
Northrop Grumman (NOC) with 1,000 April $190 calls trading $6.40 to $6.50, strong chart with shares near new highs
Deere (DE) with 5,000 June $75 puts bought $1.90 to $1.95 with over 9,500 already in open interest, shares breaking down out of its uptrend that started with the January lows as the Ag trade weakens with the USD strength. DE has 11.95% of its float short, near a record high.
March 22nd, 2016
Shire (SHPG) seeing bullish action once again with more than 1,500 July $200 OTM calls bought to open at $5 to $5.35 and even seeing action in October $225 and $235 far OTM calls
Union Pacific (UNP) buyer of 1,000 November $85 calls to open $4.60 at the PHLX, rolls from August $82.50 calls, and after the earlier buy of 1,500 January 2017 $85 calls at $5.25. UNP saw a bullish spread yesterday when 1,000 April 29th (W) $80 calls bought $5.40 against the sale of 1,000 November $70 puts at $2.22.
Western Digital (WDC) with more than 5,000 July $55/$62.50 call spreads opened for $1.76 against a sale of more than 4,000 October $35 puts at $1.77 to $1.78
March 21st, 2016
Kroger (KR) with 1,490 May $40 OTM calls seeing some unusual opening buys this morning at $0.60. KR presents at the TAG Conference tomorrow and has been a name linked to The Fresh Market (TFM) which is in a “Go-Hop” period
Home Construction (ITB) lower today after disappointing home sales data this morning, but an unusual large block of 51,000 January 2018 $35 calls traded $1.20 to $1.25 to open with bid-ask sitting $0.80-$1.45. The top holdings are DHI, LEN, NVR, PHM, TOL, HD, CAA, LOW, TPH and SHW.
Schlumberger (SLB) with 1,250 April 29th (W) $73 calls opened this morning in a stock replacement, shares very coiled under the 200-day MA. SLB also seeing unusual action in April 29th (W) calls with 3,500 of the $73 calls bought ITM in the $3 to $3.20 range, many spreading against the $79 strike calls in bull call spreads
March 18th, 2016
SM Energy (SM) large opening sale of 6,000 August $20 puts at $4.60 at the PHLX, also tied to 234,000 shares as it appears to be a stock replacement via put sale
Anadarko Petro (APC) with a buyer that comes in for 5,000 May $55 calls at $2.07 at the ISE, after earlier XOM chatter and a name that has been strong with a lot of call buying
Mead Johnson (MJN) buyer of 2,000 April $85 calls at $2.48, closes 1,000 April $80 calls at $4.56. Shares gapped higher earlier this week on talk of potential interest from Danone or Nestle
March 17th, 2016
Emerson (EMR) big sweeps of April $52.50 calls at $0.95 offer and already has sizable April $50 calls in OI
Valero (VLO) buyers of 1,400 April 22nd (W) $62 puts to open $1.68 to $1.80 and volume jumps above 3,000 with buyers up to $1.83
Air Products (APD) buyer of 1,229 June $140 calls $7.10, rolls out of March $130 calls $11, strong move today with news it is exploring a $3.5B+ sale of a unit
March 16th, 2016
S&P (SPY) large sweep buys of 36,000 April 29th (W) $197 puts at $2.80 to $2.82, a $10.1M purchase.
Roper (ROP) Tech trade opens 800 May $175 puts at $5.60 at the PHLX with a wide bid-ask of $5.20-$6.50, trading more than 10X daily puts. ROP is a name that has been a leader for a long time, but coming off its first disappointing quarter in awhile.
Alibaba (BABA) buyer of 5,000 April $72.5/$80 call spreads at $2.44, trader rolls out of March positions
March 15th, 2016
Cavium Networks (CAVM) buyers of 1,400 April $55 puts at $1.05, a name hit hard in February when Tech growth sold off sharply. CAVM also with 15 September $55 puts bought and now 1,500 April $60 puts at $2.65. CAVM now with another 500 April $60 puts bought, a name with short interest at 13.4% of the float, a 3 year high
Ctrip.com (CTRP) buyer of 2,000 April $41 calls at $2.75/$2.80 to open ahead of 3/16 earnings, a name that has moved sharply higher on results the last 4 reports
International Paper (IP) earlier with 1,000 April $39 puts bought $0.83 to $0.90 and now trading over 3,000 of these contracts, buyers paying $1.08 to $1.15 for the last few large lots
March 14th, 2016
Electronic Arts (EA) buyer of 1,030 April $65 calls $2.20 offer at PHLX, also had a sale of 2,000 September $57.50 puts at $3.65 to $3.50 on 3-9.
Stryker (SYK) buyer of 1,000 April $105 puts $2.35 to $2.50 to open, an extended name, but a lot of March puts in OI set to expire. SYK trading over 2,000 of the April $105 puts now with buyers paying up to $3.10, strong spike in IV
Marriott (MAR) with a buyer of 2,000 April $70 calls for $3.01 on the ISE as a position in the March $67.50 calls closes. The company is currently attempting to buy Starwood (HOT) who received an unsolicited $76 offer from China’s Anbang Insurance this morning.
March 11th, 2016
Activision Blizzard (ATVI) buyer of 5,500 April $31 calls at $1.61, closes out 3,550 March $28 calls $3.80. ATVI now also seeing 1,000 April $32 calls opening up to $1.15 offer, strong name on the highs
Ascena Retail (ASNA) seeing buyers of more than 3,000 April $10 calls for $1.15. ASNA has been very strong off the February lows and shares being bought following earnings despite ugly guidance for Q1.
Yahoo (YHOO) shares consolidating below the 200 day MA and yesterday saw more sizable bullish positioning in May calls with the Company exploring strategic alternatives. A spread today sold 1,000 July $28 puts to buy 1,000 July $37/$42 call spreads
March 9th, 2016
Factset Data Research (FDS) large opening buyer of 1,000 April $160 puts for $7.00 to $7.20 this morning in a sweep. Shares have bounced back near the 200-day MA ahead of results on 3-15.
Radius Health (RDUS) seeing October $40/$35 bull risk reversals open today for around 480X at zero cost to a small credit, stock strong today
Teck Resources (TCK) with 15,000 April $8 puts bought to open $1.26 in a massive sweep, a metals name that has rallied above its 200 day MA and more than 100% from January lows, traders now expecting a pullback
March 8th, 2016
Solar City (SCTY) buyers of 1,250 April $26 puts at $6.75 to open with shares 6.5% higher on the Whole Foods news, and action continued up to $7.20 buyers as more than 2,000 contracts traded
Monolithic Power Systems (MPWR) weak today and trading 20X daily puts as 1,000 far OTM June $50 puts are bought $1.60 to $2 to open, a name with 1,300 June $55 puts in OI from former buys.
United Continental (UAL) with 5,000 April $60 calls bought to open as the April $62.50 calls are rolled back, buyers paying $1.01 for the $60 calls. Shares are down 2.45% this morning and touching the 200 day MA on lows as potential support. It was announced this morning that PAR Capital and Altimeter Capital which combine own 7.1% of UAL are fighting for 6 board seats as the activists look to unlock shareholder value.
March 7th, 2016
Bristol Myers (BMY) trades 2,000 June $65 calls at $3.60 offer, already over 6,600 in open interest, a name breaking out of a 6 point bottoming pattern that targets a move to $71
IBM (IBM) with 2,300 July $155 calls bought $1.47 offer to open, follows recent bullish action since late February including 10,000 October $165 calls bought late on 3-3. IBM shares have cleared a long trend line and above its 20 week EMA as growth initiatives show strength.
Caterpillar (CAT) with 2,000 May $75 puts bought $4.95 to $5 after 2,000 were opened Friday afternoon
Kraft Heinz (KHZ) buyer of 4,700 July $75 calls at $4.30, rolls out of March $75 calls $1.90
March 3rd, 2016
Nike (NKE) with a buyer of 7,500 March $62.50 calls for $0.66 to $0.70, shares pulling back to the 50-day MA today after a big run off the February lows. Earnings expected in mid-March but unconfirmed as of now.
Kellogg (K) with a buyer of 1,100 June $75 calls at $3.00 with IV climbing as shares near breakout of recent range and holding prior resistance
Sea Drill (SDRL) buyer of 2,370 July $3.50 calls at $0.75. SDRL July $3.50 calls jump to 10,000X and 2,650 of the July $3 calls bought at $1 as well
Novo Nordisk (NVO) with an opening sale of 1,000 April $55 puts $1.50 this morning with shares up 7% on strong drug data, and also a buyer of 1,000 June $50 calls at $3.80 to open yesterday
March 2nd, 2016
BHP Billiton (BHP) with 5,000 August $21 puts bought to open $1.95/$2, shares trading $24.50 with a strong trend off January lows at $19
Alnylam Pharma (ALNY) big buyer of 1,500 September $100 calls $2.55 to $2.65 to open with shares trading $61.80. ALNY recently completed enrollment in its APOLLO Phase 3 study with patisiran, an investigational RNAi therapeutic targeting transthyretin for the treatment of TTR-mediated amyloidosis in patients with familial amyloidotic polyneuropathy. ALNY will not present the data until 2017. CSFB was out on 1-20 with a $154 target on ALNY, noting an early-stage pipeline poised for sustained growth with meaningful catalysts over the next 12 months. Sanofi also recently expanding their stake in the company raising talk of a possible acquisition and the company recently noting their interest in M&A last week
Hershey (HSY) early morning buys of 1,500 May $100 calls near $1 and trading 4,650 of these contracts now on the day, paying up to $1.23. The May $100 calls originally traded 5,000X to open $0.75 to $0.77 back on 11-18-15 and remain in OI.
March 1st, 2016
Medtronic (MDT) opening sale of 5,000 April $70 puts $1.10 to $1.08 with shares down 4.6% after earnings
Automatic Data (ADP) with unusual buys of 970 March $85 puts to open $1.60, comes ahead of tomorrow’s ADP Employment Report. ADP puts now jump to 2,500X paying up to $1.70.
Dorman Products (DORM), a $1.76B Auto Parts Co., seeing unusual buys of 730 August $50 puts today in the $4 to $4.50 range, shares up near multi-month highs
WhiteWave Foods (WWAV) trade buys 5,000 July $45/$50 call spreads at $0.90, potentially adding to the 5K in OI as shares move above its 20 week EMA into some space
February 29th, 2016
BioMarin (BMRN) buyer of 750 May $100 calls at $3.10 to $3.20 with Sanofi targeting rare disease acquisitions
Yum! Brands (YUM) sizable buy of 10,000 March 24th (W) $74.50 calls to open $1.50 to $1.62, name with sizable bullish flow all last week as well and breaking out today
Barrick Gold (ABX) with 10,000 April $13 puts bought to open at 0.87, seeing a few large put buys in the Gold Miners that rallied sharply earlier this year on a flight to safety trade
Accuity Brands (AYI) some bearish flow with 600 April $210 puts bought to open at $12.40 to $13, earnings at the end of March.
February 25th, 2016
Arista Networks (ANET) shares dropping with 1,000 April $70 puts bought in an aggressive sweep from $5.30 to $6.00 with IV spiking, name recently posting a strong quarter but undergoing a long patent litigation with Cisco Systems
Wyndham Resorts (WYN) with 1,100 May $70 calls bought to open $5.20 to $5.30 as March $65 calls are rolled out after a large profit, the whole Hotel group moving strong out of large bottoms and above 20 week EMAs. WYN now seeing 3,000 March $72.50 calls rolled up to the $75 strike which open at $0.95
Stryker (SYK) buyer of 5,000 March $100 puts to open $1 to $1.05, rolls out of March $97.50 puts. SYK now seeing 1,400 June $97.50 puts bought for $3.10 offer, shares rolling off the highs
Fed-Ex (FDX) sweep buyer 5,000 March $145 calls at $1.21 to $1.25 as shares push above its 50 day EMA. Fed-Ex (FDX) now with a large sweep buy of 700 July $140 calls at $7.75
February 24th, 2016
Microchip (MCHP) with 2,000 April $44 puts bought to open $2.40 to $2.55, comes after call buying yesterday though large March ITM puts remain in OI
United Kingdom (EWU) ETF with an unusual buyer of more than 3,000 July $14 OTM puts at $0.80 offer, likely playing for Brexit fears
Western Digital (WDC) buyer of 4,100 October $45/$60 call spreads at $3.90 and sells 4,100 October $35 puts at $3.65 to partially finance the trade, bull covered risk reversal following the loss of the Unisplendour investment, but proceeding with the SanDisk (SNDK) deal
United Technologies (UTX) on the highs, up 2.3% and above levels from Monday when news broke of a potential tie-up with Honeywell, and a buyer steps in here for 1,000 April $100 calls for $1.50 on the ISE.
February 23rd, 2016
GATX Corp (GMT) with 2,000 June $35 puts bought to open at $1.80, trading 20X daily puts. GMT is a name with 20.7% of its float short, a record high. The $1.76B Co. trades 8.35X Earnings and 1.35X Book with a 3.85% yield, but a lot of debt, and exposed to the rail car industry where we have seen recent negative read-throughs.
American Railcar (ARII) buyer of 2,000 June $30 puts for $2.45 on the AMEX, more than 15X average put volume. Shares cut to underweight at BB&T recently which sees the rail-car cycle rolling over with declining annual deliveries already showing signs of weakness.
Monolithic Power Systems (MPWR) with a buyer of 1,000 June $55 puts from $4.50 to $4.70 offer, sizable trades with IV30 up 20% and shares nearing a major breakdown.
Children’s Place (PLCE) jumping near recent highs but 1,440 April $65 puts bought to open at $3.20 to $3.40, comes ahead of Carter’s (CRI) earnings. The $1.3B retailer is trading at key $66 resistance ahead of early March results and has seen short interest grow to 13.73% of the float.
February 23rd, 2016
Methanex (MEOH) opening buy of 1,000 April $32.50 calls at $2, trading 4X daily calls. MEOH has moved off a possible bottoming base and the $2.77B Company is cheap at 11.5X Earnings, 1.6X Book with a 3.58% yield.
VMware (VMW) buyer of 2,500 April $45 puts $1.57 to $1.60, also has over 10,000 April $42.50 puts in open interest
American Air (AAL) with 3,050 next week $40.50 puts bought to open at $1.11 to $1.16, shares reaching the 20 week EMA yesterday and retesting the support break from January
Schlumberger (SLB) buyer of 5,000 March $70 puts from $1.04 to $1.09 with shares on the lows, looks to be adding to more than 6900 in open interest
February 22nd, 2016
Clovis Oncology (CLVS) trading 1,000 April $22.50 calls to open $2.05 to $2.70, contracts being bid higher. CLVS has earnings scheduled for 2-25 and has seen short interest surge to 31.1% of its float. Janney started shares a Buy with a $50 target on 12-17, expecting approval of its two lead oral cancer drugs in 2016. Kyle Bass was out in November after shares tanked and said he has a $45 base case and $90 bull case,
Abbott Labs (ABT) with a buyer of 1,750 May $39/$37 bull risk reversals for $0.65 debit with shares moving out of a base. Shares upgraded to Buy on 2-5 at Argus following deal for Alere.
Express Scripts (ESRX) with a large opening buy of 1,000 August $67.50 puts at $5 at the CBOE. Deutsche Bank cut shares to Sell this morning with a $61 target citing risk to EPS revisions
Murphy Oil (MUR) with buyers of 3,500 March $15 puts for $0.80 with shares nearing a big breakdown
February 19th, 2016
Seagate Tech (STX) early buyers of 2,000 March $34 puts at $2.70 to $3.15, aggressive bearish action for a name with sizable OTM September puts bought in the past week
Parker Hannifin (PH) trading 1,500 March $100 puts at $3.70 to $4, aggressive buys with over 2,000 already in open interest from former buys
Solar City (SCTY) with 3,000 April $19 puts bought for $3.25 offer, name where every rally following earnings has been sold into and bearish put buying continues to accumulate.
United Continental (UAL) spread buys 6,500 September $50/$65 call spreads and sells the $45 puts to open, net $3.40 debit for the bullish covered risk reversal. UAL raised its buyback earlier this week.
February 18th, 2016
IBM strong with Morgan Stanley upgrade and $2.6B acquisition and seeing over 5,000 of next week $135 calls bought early $0.58 to $0.68. IBM on highs and now trades a block of 4,100 March $135 calls $2.35
Starwood Hotels (HOT) lower after earnings but buyers quickly come in for over 5,000 March $65 calls at $2.79 to $2.95. HOT is in the process of merging with Marriott (MAR).
Car-Max (KMX) buyers of 1,125 March $47.50 puts today at $2.20 to $2.45, shares up strong the last 3 days but have 8,000 March $42.50 puts in open interest (5,000 spread vs. $37.50 strike), and will report earnings near March OpEx.
Costco (COST) weak today and on lows here with 3,000 March 4th (W) $145 puts being bought to open at $2.51 to $2.79, targeting earnings on 3-2
February 17th, 2016
Community Health (CYH) buyer of 3,500 September $11 puts to open $1.40, aggressive on wide bid-ask after shares were hit hard on earnings yesterday
Helmerich and Payne (HP) aggressive buyer of 725 September $55 calls at $6.50, and also trades 1,500 March $55/$45 bull risk reversals at $0.90.
Shutterstock (SSTK) opening buys of 1,250 March $30 puts at $2, aggressive buys for 2-24 earnings
Cerner (CERN) opening buy of 5,000 March $50 puts at $1.40 as shares bounced off lows post-earnings, trader looking for more downside
February 16th, 2016
Laboratory Corp (LH) with 1,100 May $100/$90 put spreads bought this morning for $3.00 to $3.05 ahead of 2-18 earnings, although name which has closed higher three of the last four reports.
Abbott Labs (ABT) with a buyer of 1,000 May $37 calls for $2.37 on the ISE, shares on the highs and trying clear recent base following earnings. The company recently announced mixed earnings, all of their business segments showing weakness, but also a $5.8B deal for Alere (ALR).
Mead Johnson (MJN) IV jumping with 2,000 March $80 calls bought to open $1.45 to $1.48, name with a lot of bullish call buying and inverted IV Skews
Devon Energy (DVN) will report after the close and buyers active for over 9,000 April $17.50 puts to open $1.69 to $1.71, a name already with massive short and long term puts in open interest, and nearing a break of key $20 support, one of many Energy names that could have credit issues
February 11th, 2016
Axiall (AXLL) now trading 2,000 February $20 calls to open from $1.00 to $1.25 offer, shares jumping to the highs from the early action. AXLL recently received a $20 cash offer from Westlake Chemical (WLK) which it rejected. The company is being pushed by Brigade Capital to accept the offer and some lingering thoughts a competing bid could emerge. Axiall (AXLL) now with a buyer of 3,000 May $20 calls to open at $3, aggressive purchase
Starbucks (SBUX) IV jumping with 3,500 February $52 puts bought to open near $0.57, looking for a breakdown of recent lows into next week with longer term support down at $48.50
CVS Health (CVS) IV rising with buyers of 3,000 February $91 puts paying $1.25 to $1.45, shares bounced back from an earnings sell-off, but now traders looking to fade the bounce
Orbital ATK (OA) with 1,000 March $80 puts bought for $3.45, rolling out of a position in the February $85 puts which close at $3.80. Shares rolling over and a big head and shoulders pattern forming with a move under $84 measuring down to $74.
February 10th, 2016
Industrials (XLI) large buyer of 40,000 September $44/$30 put spreads at $1.46 yesterday. Top holdings GE, MMM, HON, BA, UTX, UNP, UPS, LMT, DHR, GD
Apple (AAPL) trades the May $100/$110 call ratio spread 10,500X21,000 at $1.36 debit at the PHLX
Mosaic (MOS) with a couple large bearish trades, buyer of 1,000 September $24 puts at $3.95 and 800 September $19 puts at $1.65, earnings before the bell tomorrow
Westinghouse Air Brake Tech (WAB) with 2,000 February $65 OTM calls bought to open at $1.43 to $1.65, targeting earnings on 2/18, shares basing in a tight range the past 3 weeks. WAB shares closed lower last quarter on results, snapping a streak of 5 straight with gains. The $5.85B supplier to the rail industry trades 13.8X Earnings, 1.77X Sales, and 13.83X FCF with a 0.53% yield and healthy balance sheet, but has also seen short interest surge to 14.7% of its float, a record high, so these calls may simply be short protection.
February 9th, 2016
Phillips 66 (PSX) with 3,000 March $75 puts bought to open $4.16 to $4.20, a name with over 10,000 February $75/$70 put spreads in open interest
Discover Financial (DFS) with 1,000 March $42.50 calls bought $3.35 to $3.40 as shares jump. OpCo with positive comments last week on strong balance sheet and rising loan growth.
DCP Midstream (DPM) trading 15X daily puts as 2,000 April $15 puts are bought to open $1.35 to $1.45
ARM Holdings (ARMH) large buy of 7,260 March $41 puts at $3, rolls out of February $41 strike ahead of earnings tomorrow morning
February 8th, 2016
Ulta Salons (ULTA) with a buyer of 1,000 March $150 puts bought for $8.00 offer on the ISE, sizable buys with shares down sharply recently from a big range and nearing the August lows.
ActiVision Blizzard (ATVI) with 2,000 weekly $29.50 calls bought $1.35 to open and 5,000 of the weekly $31 calls at $0.66 to open in a large sweep, ahead of 2-11 earnings. ATVI has closed higher each of its last 10 earnings reports.
Alliance Data Systems (ADS) buyer of 1,500 March $180 puts for $9.00, rolling down from a position in the $220 puts opened in late January which closes at $38
Celanese (CE) buyer of 2,500 February $55 puts $1.70 to open at the PHLX, closes 2,000 of the $57.50 puts at $2.90, shares breaking down hard today
February 4th, 2016
Caterpillar (CAT) opening buy of 5,000 May $62.50 puts at $3.65 mid-market at the CBOE, a name rallying with Industrials, though the fundamental outlook remains very weak
Boston Scientific (BSX) opening buy 2,500 May $17 calls $1.14 offer with shares at day lows following earnings, down 4.6% but back at potential support
Target (TGT) with an opening buy of 4,000 February 26th (W) 65 puts this morning, as well as 1,500 of the $70 puts at $2.19, looking for weakness on 2-24 earnings after the Kohl’s (KSS) nasty warning this morning
Service Now (NOW) big bearish flow as 5,000 May $50 puts are bought $2.35 to $2.50 to open, shares hit hard on earnings and still down near those lows
February 3rd, 2016
ARM Holdings (ARMH) bearish flow coming in with 2,300 February $44 puts bought $1.95 offer in a sweep, a name with sizable OI in February $41 and $40 puts and earnings coming around 2-10
Anadarko Petro (APC) seeing some bullish flow this morning with 1,500 January 2017 $45/$55 call spreads bought at $2.95, a name with recent large opening put sales and has traded stronger than peers, holding up as Oil moved back to $30
William Sonoma (WSM) trades 4,000 March $50/$45 put spreads to open at $1.87, partially financed via the sale of 4,000 March $55 calls at $0.77
Synchrony Financial (SYF) trades 10,000 February $26 / Jan. 2017 $25 diagonal put spreads to open $2.05 debit
February 2nd, 2016
Silgan (SLGN) March $55/$50 bull risk reversals opened 800X at $0.10 ahead of earnings tonight, a name that saw over 5,000 May $55 calls bought and accumulate into OI
Microchip Semi (MCHP) with 3,000 March $44 puts trading with buyers paying $2.65 to $2.75, already more than 4,400 in OI with earnings 2-3 after the close
Buffalo Wild Wings (BWLD) buyer of 1,000 February $140/$120 put spreads at $4.60 to open ahead of 2-3 earnings
Progressive Corp. (PGR) opening buyer 1,750 August $30 ITM calls $2.20 to $2.33
February 1st, 2016
Cornerstone On Demand (CSOD) buyer of 1,000 February $30 calls $2.10 to $2.20, a name that has seen a few large bullish positions open
Vertex Pharma (VRTX) with 530 April $100 OTM calls bought to open $5.50 to $5.80 with shares basing after reversing nicely on earnings last week. Jefferies upgraded shares to Buy with a lowered $120 target this morning.
Marathon Petro (MPC) buyer of 2,000 February $40 calls to open $2.67 to $2.80 with earnings on 2-3 before the market opens. MPC shares have been basing the last two weeks near $40.
Post Holdings (POST) with buyers of 2,400 February $65 calls at $1.45 to $2, aggressive buys and pricey calls with the stock at $8.35, positioning for earnings 2-4. POST cleared a downtrend last week and out of a base above $54, now back above its 8, 13, and 20 day moving averages. POST is a name with over 15,000 March $60 calls in OI from buyers.
January 29th, 2016
USA Tech (USAT) very unusual trade as 2,000 September $2.50 calls are bought to open at $0.80, a name with hardly any open interest. UAT shares have formed a weekly bull flag, $3.40 a key breakout level, earnings on 2-12. The $107M provider of wireless networking and services to the point of sale market trades 23X Earnings, 1.7X Sales, and 2.1X Book.
Rollins (ROL) trading 1,000 February $25 calls to open at $2.15 to $2.25 for a name with total options open interest of 351. ROL reported earnings earlier this week and starting to clear a downtrend. The $5.75B pest control services Company trades 34.35X Earnings, 3.93X Sales and yields 1.2%. Sidoti raised shares to Buy on 1-12
Gilead Sciences (GILD) large buyer of 5,000 January 2017 $100 calls at $5 to $5.10 into today’s weakness, earnings on 2-2. Gilead (GILD) trades the February $89/$93/$97 call fly 25,000X50,000 at $0.40 debit
FLIR Systems (FLIR) buyers coming in for 2,000 February $29 calls at $0.65 to $0.70, name that saw 2,900 April $31 calls accumulate to open, IV jumping sharply
January 28th, 2016
Incyte (INCY) shares down 9.5% after disappointing drug data and a trade steps in to buy the December $75/$100 call spread and sells the $55 puts to open, for 2,000 contracts at a net $0.50 credit, so willing to be long the stock, or cover a short at $55 level
FireEye (FEYE) opening buyer of 2,000 Jan. 2017 $13 calls ITM today at $4.10, sizable trade, though it is a name with 12.2% of its float short and showing very bad price-action of late, but M&A remains a viable upside driver.
Colgate (CL) IV rising ahead of earnings tomorrow morning with 3,000 February $65 puts bought
Buffalo Wild Wings (BWLD) with the late day March $125 put buys yesterday and more this morning is also seeing over 1,000 June $150 puts trade with buyers at $15.70 to $16, sizable position
January 27th, 2016
Molson Coors (TAP) bearish flow early with 2,000 February $87.50 puts being bought ITM $4 to $4.20, Company lowered its outlook last night and reports on 2-11, a gap to fill down to $82.50 in play. TAP now trading 5,000 of those as some of the February $85 puts are closed 2,500X at $2.50 and more of the $87.5 puts bought at $3.90
Microchip Tech (MCHP) buyers of 2,000 March $44 puts at $2.80 to $3 as IV jumps, stock on day lows and reports 2-3, already more than 2,860 of these in open interest
Dean Foods (DF) trading 15X daily calls with IV30 jumping more than 10%, hot action as 3,000 February $20 calls are bought $0.70 to $0.80 in a large sweep, a hot name of late that broke key resistance back at $19
Seagate Tech (STX) trades 5,000 April $30/$25 bull risk reversals to open at a $0.50 credit, a name that has been under heavy pressure and initiated at Sell this morning at Citi. The $8.3B Company now trades 6.9X Earnings and 5.95X FCF with a 9.1% dividend yield, wildly cheap valuation, though leveraged with Debt/Equity at 2.15 and remains exposed to the weak PC market.
Qlik Tech (QLIK) buyer of 1,000 May $25/$30 call spreads to open $1.60 at the PHLX
January 26th, 2016
Under Armour (UA) buyer of 2,000 February $66 puts to open $3.60 offer ahead of 1-28 earnings. UA now also trades 2,500 February $63/$55 put spreads to open $1.70
ACADIA Pharma (ACAD) with 1,750 March/April $20 put calendar spreads opened at $1.70 at the PHLX
McDonald’s (MCD) buyer of 10,000 February $120 calls at $2.70 offer, rolls out of the weekly $118 calls, sticking with it even after giving up much of its earnings move gains
Hess (HES) buyer of 12,000 Jan. 2018 $25 puts at $5.35 to open, rolls out of 6,000 $32.50 puts closed $8.575
January 25th, 2016
Colgate (CL) IV jumping as 1,750 weekly $63.50 puts are bought $0.91 to $1 ahead of 1-29 earnings, potentially seeing a negative read-through from KMB results
Chipotle Mexican Grill (CMG) large purchase of 1,000 February 5th (W) $435 puts at $18 to $19 or 2-2 earnings, a trade worth more than $1.8M, and another 600 added up to $20 later.
Hilton Worldwide (HLT) buyers coming in for 4,000 February $19 calls $0.47 to $0.50, recent bullish action in the name with potential spin-off coming, also announced a new midscale brand this morning called “Tru”.
Allergan (AGN) with 1,000 August $270 puts bought to open at $16.50 to $17, its deal with Pfizer facing regulatory concerns
January 22nd, 2016
Microchip (MCHP) with a buyer of 2,000 March $44 puts for $2.55 to $2.60, shares dropping to the lows.
Shire (SHPG) bullish action with 2,000 March $200 calls bought to open $3.70 to $3.90, earnings expected around 2-11 and the Company recently announcing its deal for Baxalta (BXLT)
Corning (GLW) IV rising throughout the morning with 6,000 February $17 puts trading $0.63 to $0.65 ahead of 1-26 earnings, a name that could see an impact from weak iPhone production
Mallinckrodt (MNK) unusual buyer of 1,000 February $65 puts $4.50 to $5 to open, reports on 2-2, a name that has been in the focus for pricing concerns
Monsanto (MON) with 1,110 Jan. 2017 $85 puts bought to open at $6.55, continues the recent trend of bearish options action for this name, both February and April puts active the past week
January 21st, 2016
Eaton (ETN) IV jumping with 1,000 February $49 calls bought $1.15/$1.20 to open, earnings 2-3, a name been seen as potential break-up candidate. ETN sweep buyer 550 July $50 calls $2.35 after earlier February calls bought
Valero (VLO) buyer of 2,000 June $60 puts $5.35 to open at CBOE, reports on 1-28 and shares breaking under $65 support this week with room to move back to $59.
Qualcomm (QCOM) buyers of 1,000 April $46 calls $3.35 offer, name has seen quite a bit of short and long term call buying in 2016 as a turnaround is seen, some recent joint venture news and also recently gave improved guidance. On another interesting note there has been more talk of it potentially targeting XLNX in a key deal this morning. QCOM also with a buyer of 5,913 February $48 calls $1.73 rolled back from $50 strike
Electronic Arts (EA) trades the January 29th (W) $68/$72.5 call ratio spread 7,500X15,000 to open at $0.90 debit, a popular strategy in EA the last few quarters for earnings, next reports on 1-28
January 20th, 2016
Conoco Phillips (COP) seeing major put action for a 2nd day with 5,000 March $32 puts opening and 3,000 far OTM March $25 puts, a name closely correlated with Oil prices
Coach (COH) buyer of 2,000 August $31 puts to open at $3.50 to $3.60 and also trades 1,000 Jan. 2017 $32 puts at $5.10 to $5.20, bearish action into 1-26 earnings
Tupperware (TUP) with 1,000 February $45 puts bought to open today for $1.60 to $1.80 offer and shares nearing the 8/24 lows. TUP is highly shorted, over 13.5%, and rising sharply from under 4% in late 2014.
Danaher (DHR) with more than 7,000 February $80 puts trading from $1.25 to $1.18 this morning, IV coming down indicative of opening sales ahead of 1/26 earnings.
January 19th, 2016
Viacom (VIAB) very strong this morning on talk in the NY Times of an activist pushing the company for change and 2,000 February $42.50 calls bought in a sweep here for $2.20 offer.
Hormel (HRL) trading 2,500+ March $70 puts at $1.15 to $1.25 after 2,500 opened on Friday. Last week’s new of bird flu hit many of these names.
Continental Resources (CLR) down 7% today and more bearish action with 2,000 Jan. 2017 $13 puts bought to open $2.45/$2.50
Johnson & Johnson (JNJ) February $102 calls bought to open 7,500X at $0.52 ahead of 1-26 earnings, news of restructuring its Medical Devices business segment this morning
January 15th, 2016
Gilead (GILD) large buyer of 1,500 Jan. 29th (W) $91 calls $3.60 to open. GILD also looks to be trading the February $95/$100 call ratio spreads 3,000X6,000
Apple (AAPL) buyer of 3,000 February 5th (W) $97.50 calls to open $3.75 offer at the PHLX, stock replacement with earnings on 1-26. AAPL also trading 20,000 Jan. 29th (W) $100 calls.
XPO Logistics (XPO) more bearish action with 2,200 May $21 puts bought to open $4.50 to $4.75
Delphi Auto (DLPH) buyer of 3,000 February $65 puts to open at $3 at the CBOE, rolled from 1,500 February $70 puts
L-3 (LLL) with 500 February $110 puts bought to open $3.70 to $3.80
January 14th, 2016
Stanley Black and Decker (SWK) basing above key $95 trend support and bullish flow today with 950 April $100 calls bought to open $3.40 to $3.70, earnings on 1-28
McDonald’s (MCD) big reversal to green and 10,000 January 29th (W) $117 calls were bought to open $2.03, capturing earnings 1-25, and rolled from Jan. $115 calls
Coach (COH) with 2,500 January 29th (W) $32 calls bought to open that capture 1-26 earnings, buyers paying $1.35 to $1.40, shares touching uptrend support today after holding up better than most retail/apparel names which is a change after being a laggard for a couple years. COH short float has been declining, now 5.85% of the float and trades 14.85X Earnings, 3.53X Book and 44.85X FCF with a healthy 4.28% yield.
Nike (NKE) with 3,500 January 22nd (W) $57.50 puts bought to open $1.14 to $1.16, rolled from Jan. $58.50 puts expiring this week
January 13th, 2016
Microsoft (MSFT) buyers of 5,000 January 29th (W) $55 calls $1.35 targeting 1-28 earnings, upgraded to Overweight at Morgan Stanley this morning with a $66 target
Eco-Lab (ECL) weak since cutting guidance and saw large put rolls yesterday, and this morning 1,000 each of April $100 and $95 puts bought at $3.40 and $2.05 respectively
Realogy (RLGY) trading 4X daily calls with 1,000 March $35 calls bought to open $1.30 to $1.35. RLGY touched near record lows earlier this week, The $4.84B real estate services Company trading 16.8X Earnings, 0.85X Sales, and 10.4X FCF. CSFB upgraded shares to Neutral on 1-6. RLGY is facing some regulatory risk with a recent class-action lawsuit in California.
Total Systems (TSS) trading 30X daily puts as 2,500 February $45 puts are bought to open $1.35 to $1.40, IV jumping, a name that has been reporting strong results through 2015, but lately showing weak price-action.
January 12th, 2016
Southern Copper (SCCO) with a buyers of 5,000 March $20 puts for $0.70 to $0.75 as shares break to the day’s lows and a name with a lot of recent put buying as global commodities come under pressure on lessening demand from China. Shares were downgraded this morning at Barclays on concerns that metals prices can stay lower for much longer than anticipated in the global macro environment.
Starbucks (SBUX) with 2,000 January 29th (W) $60 calls bought to open this morning $1.18 to $1.30, captures 1-21 earnings, shares up this morning after announcing China growth plans are on track.
US Steel (X) buyer of 5,000 March $8 puts to open $2.10, trading more than 8,000 on the morning, bearish action as shares near new lows and have seen short interest soar, earnings 1-26
Ecolab (ECL) trader adjusting a position closes 1,000 April $110 puts at $7.70 and opens 1,000 $100 puts for $3.40 to $3.50 and 2,000 $95 puts for $2.15.
January 11th, 2016
Starbucks (SBUX) opening buy of 2,750 January 22nd (W) $57 puts at $1.48/$1.49
WebMD (WBMD) trading 1,870 February $55 calls against OI of 2,587, shares down 4.1% after a SunTrust downgrade, but a name showing unusual price-action strength on big volume lately, and could be a M&A target. Sweep buyers came into these just after 10am at $2 to $2.35.
3M Company (MMM) bearish flow with 1,000 January 2017 $155/130 bear risk reversals bought this morning for $4.25 on the ISE. The company will report 1/26. MMM action follows buyers of 1,000 February $140 puts on 1/6 for $3.17 as well, name which cut its outlook in December
Rio Tinto (RIO) with a buyer of 2,600 April $25 puts to open at $2.75 offer, shares hitting the lows of the day and under pressure in 2016 with fears of a global commodity slowdown with China demand slowing. RIO with 3,000 July $22.50 puts bought $2.35 now as well
January 8th, 2016
Avago Tech (AVGO) bearish flow early with 2,000 February $130 puts bought near $7.50, over $1M put premium as mobile market in question
Lululemon (LULU) spread sold 1,500 February $62.5 calls to buy 1,500 of the $52.5/$47.5 put spreads at $0.85 debit
Blackrock (BLK) buyer of 1,000 February $260 puts $1.70 on wide bid-ask with shares trading $314.49
SAP AG (SAP) sweep buyer 1,600 January $80 calls $0.65 to $0.70 to open a week from expiration
January 7th, 2016
Paypal (PYPL) buyers moving into February $35 calls with 3,000 trading $1.45 to $1.55
Waste Management (WM) with a buyer of 1,300 April $50 calls today for $3.80 to $3.90. Shares trading in a well-defined range since October with a break above $54 look to clear new highs. The $23.8B waste and environmental management company has been mentioned recently with Progressive (BIN) exploring alternatives but not considered a front-runner as the anti-trust issues may be too big of an impediment.
PPG Industries (PPG) with 1,000 May $90 calls bought to open ITM $9.90 to $10
Materials (XLB) with a buyer of 20,000 March $40/35 put spreads this morning for $1, protecting for a move through the 2015 lows. The top holdings by weight are DD, DOW, MON, LYB, ECL, PX, PPG, APD, SHW, and IP.
January 6th, 2016
Tenet Health (THC) buyer of 3,000 January $27.50 puts $1.125 at the PHLX, closes 6,000 of the $30 puts, shares near a major break of $27.50 support
Qlik Tech (QLIK) trades 750 May $33/$26 bull risk reversals to open at zero cost at the PHLX. Qlik Tech (QLIK) now with 2,500 February $30 calls for $1.45 bought after May bull risk reversals earlier.
Car-Max (KMX) buyer of 5,000 February $50/$45 put spreads to open at $1.63
Infinera (INFN) buyer of 1,200 February $16 calls $2.35 offer
January 5th, 2016
Fairchild Semi (FCS) block of 3,000 February $21 calls was bought to open $0.40, a Company seeing a bidding war after entering a merger agreement with ON Semi (ON) in November, a consortium led by China Resources Holdings has offered a superior proposal to ON’s $21.70/share bid, and FBR sees potential for ON Semi to raise its bid to $22.
Kate Spade (KATE) seeing buyers today of 1,000 February $18 calls to open at $1.05 to $1.10 offer and also seeing 1,000 February $19 calls opened at $0.75, being rolled out from January. KATE is a high short name with 13.94% of the float currently and rising from under 6% in 2014. The company was initiated Neutral at Goldman in mid-December with a $20 price target calling the company the best name in handbags but sees near-term softness in the U.S. market pressuring shares. In December, Bloomberg speculated that the company would make a nice target for private equity.
Big Lots (BIG) with a buyer of 2,150 January $37.50 puts for $0.75 to open, 6.75X average volume with shares nearing new lows. BIG shares near a breakdown out of a large channel, weak technically
Post Holdings (POST) buyer of 2,000 March $60 calls at $5.45 to $5.48, appears to be rolling back from 2,000 of the $70 calls which were opened as the long leg of a $70/80 call spread in early December.
January 4th, 2016
JD.com (JD) buyer of 3,000 March $31 calls at $2.25 to open. JD shares testing 20 week EMA to start 2016 and had some sizable call buys last week as well. JD with another 3,000 March $31 calls bought $2.20
FleetCor (FLT) shares at session highs as 5,000 January $140 puts are sold to open from $2.25 to $1.85 bid, IV dropping sharply. FLT can benefit from the stabilization in Oil, crude up 3.4% early
Visa (V) buyer of 1,000 February 12th (W) $78/$83 call spreads at $1.20 with shares testing the 20 week EMA, 38.2% Fibonacci and December low support, will capture late January earnings.
Comerica (CMA) large spread sells 30,000 February $37 puts to open and buys 30,000 February $43/$47 call spreads at net debit of $0.36, a name with 63,500 April $50 calls in OI as well
December 24th, 2015
Norfolk Southern (NSC) interesting trade today sold 100 March $75 puts $1.50, bought 500 June 2016 $100 calls $2.65 and 375 June $105 calls at $2. NSC has been rejecting CP’s takeover attempt and has been some speculation that Burlington Northern could attempt a deal
Time Warner (TWX) buyer comes in for 5,000 April 2016 $75 calls at $0.98 to $1.04, already 17,691 in OI as part of a spread versus the $90 calls with the $62.50 puts sold to open 10,000X in OI
Disney (DIS) trying to hold above $105 level after recent dip from $120, still a fundamental darling, and seeing 1,350 July $110 calls bought $6.10 to $6.25 today after 1,000 were bought to open on 12-22 as well, taking a longer term recovery view.
Western Union (WU) shares fading with 3,700 February $17 OTM puts bought to open $0.25/$0.30 and 30 day IV +6%. WU now with over 15% of its float short, near a record high
December 23rd, 2015
Freeport McMorran (FCX) buyers of 7,500 May $8 calls at $0.85 offer to go with the 5,000 Jan. 8th (W) $7.50 calls, +560K Net Delta in opening hour
Therapeutics MD (TXMD) strong since posting positive data and today a buyer of 1,000 March $15 calls $0.70 offer to open in an aggressive sweep
Salesforce.com (CRM) trades the March $85/$95/$105 butterfly call spread to open 3,000X6,000X3,000 at the PHLX at a $1.50 debit
Dow Chemical (DOW) spread buys 10,000 January $53.50 calls and sells 5,000 of the $48 puts, net cost per spread near $1.05
December 22nd, 2015
S&P 500 Mini-Options Index (^XSP) with a block of 37,947 March 2016 $186 puts bought to open at $2.54 at the CBOE. On 12-9 a trader bought 36,850 of the February $189 puts at $2.30.
Industrials (XLI) opening buyer of 25,000 December 31st (W) $52.50 calls for $0.54, looking for a rally into year-end with top holdings by weight including GE, MMM, BA, HON, UTX, UNP, and UPS many of which have also seen call buying individually as well
Time Warner (TWX) with 3,000 April $70 calls bought to open $1.80 to $1.85, shares recently down to 52 week lows despite constant bullish positioning
Hasbro (HAS) trader buys 17,000 February $65 puts for $3.50, rolling out of position in the January $70 puts which closes at $4.85
December 21st, 2015
Pattern Energy (PEGI) unusual buyer of 2,000 March 2016 $20 puts $1.45 offer to open at the PHLX, aggressive purchase on wide bid-ask and nearly 2X total put OI. PEGI, a Utility that operates wind power projects, has 15.65% of its float short, near a new high.
Eli Lilly (LLY) spread trades 2,000 Dec. 31st (W) / January 8th (W) $87 calendar call spreads at $0.88 debit, likely positioning for data with 2016 a catalyst rich year for LLY
Intra-Cellular (ITCI) trades 500 May/August $50 put calendar spreads to open
December 18th, 2015
Westinghouse Air Brake Tech (WAB) buyer of 1,600 January $70 puts $2.70, closes out of December $75 puts $5.50
Pifzer (PFE) with 165,000 January 2017 $28 puts bought to open at $1.58 this morning at the PHLX
Sarepta (SRPT) buyer of 1,000 May $50 calls to open $6.80 to $7, continues to see large bullish positions. SRPT announcing this morning a date for their FDA advisory meeting on 1/22
Tractor Supply Co (TSCO) buyer 690 January $85 calls at $3.10 to $3.30, name with 1,900 April $90/$100 call spreads in OI, testing down at $85 key support
December 17th, 2015
Netflix (NFLX) January 22nd (W) $143 OTM calls bought 3,000X to open today $3.70 to $4.15, will capture its January earnings release.
Yum! Brands (YUM) opening trade for 5,000 January 22nd (W) $79 calls $0.98 to $1.01 at the PHLX, mid-market trade. YUM also trading 2,350 February 2016 $75/$67.5 bull risk reversals at $1.60 debits
First Data Corp (FDC) with the first large trade in options since its IPO, and a longer term bearish view as 5,000 January 2018 $10 puts are bought to open at $1.25 with shares trading $15.99
Time Warner (TWX) January 2017 $70/$62.5 bull risk reversal trades 10,000X at a $0.60 credit at the PHLX, stock replacement. TWX has seen a lot of bullish positioning but continues to show terrible price-action on cord cutting fears
December 16th, 2015
Tesla (TSLA) strong this morning and seeing 1,500 Jan. $235 calls active with buyers paying $7.30 to $7.85 and shares forming a cup and handle pattern in the $205/$235 range for a target upside breakout objective to $265.
Liberty Global (LBTYA) spread selling 1,000 January 2016 $40 puts to buy 1,000 April 2016 $42.5/$47.5 call spreads, net $0.60 debit at the CBOE
Pacira Pharma (PCRX) shares jumped earlier this week when the FDA withdrew its warning letter for its Exparel drug. PCRX with an unusual buyer of 500 Jan. $75/$85 call spreads this morning at $2.35, and looks potentially tied to an earlier opening sale of 500 Feb. $60 puts $2.40.
General Motors (GM) buyer of 3,000 June 2016 $36 calls $1.87 at the PHLX to open earlier
December 15th, 2015
Hershey (HSY) buyer of 5,000 May $105 calls to open , already a 5K block of May $100 calls in OI, the buyer pays up to $2 in aggressive purchase. HSY has seen 30 day IV sharply rise the last few days after canceling out of the CAGNY Conference and skew inverted with bullish options flow, some speculation it could be an acquisition target although a tough task with the Hershey Trust ownership.
Syngenta (SYT) bullish spread sells 2,000 January $65 puts for $1.10 to buy the $80/90 call spread for $1.90, net debit of $0.80 in the name which has recently received interest from ChemChina. SYT another possible catalyst for shares is sale of their seed unit, which Bloomberg reported recently the company was revisiting as a strategic option
Waddell & Reed (WDR) with an opening buyer of 5,000 January $25 puts from $1.10 to $1.20 this morning with IV steadily rising into the lows of the day. Shares were cut to Sell this morning at Citi a name they have been bearish on since early October due to shrinking AUM and continued run-off in their higher margin funds
Valeant Pharma (VRX) with buyers of 4,500 January 2016 $105 calls $9.90 to $10.50, adjusting from June 2016 $80 calls that are closed 3,000X at $34.70 to $35.10 for a large profit. VRX shares are up 13% after unveiling a pricing and distribution pact with Walgreens (WBA)
December 14th, 2015
YPF SA (YPF) with an opening buyer of 2,000 January 2017 $15 puts for $3.00 offer on the Nasdaq. Shares are rolling over near new lows after being added to the short-term Sell List at Deutsche Bank in late November. Argentine equities likely to see some volatility in the next 12 months with new President Macri taking office and gradually changing the economic policies.
Treasury (TLT) buyer of 15,000 June 2016 $130/$138 call spreads at $1.35, and sells 15,000 o the September $140 calls to open $1.39, net credit on spread
Waddell & Reed (WDR) trading 70X daily puts as 2,000 March 2016 $30 puts are bought $3.10 to open at the PHLX, an aggressive and unusual buy in a name with just 1,304 puts in total open interest. Citi was very negative on WDR in early October seeing the shrinking AUM as its peers are outperforming
Lexmark (LXK) sweep buyer 1,500 Jan. $33 calls $1.35, Co. exploring a potential sale and 4,918 of these in OI
December 11th, 2015
UPS buyer of 10,000 January 2016 $100/$110 call spreads at $1.40 into weakness. UPS retested that October breakout with the move down this morning, nice reward/risk on that call spread
CSX Corp (CSX) now with a buyer of 2,500 February $27/30 call spreads for $0.58 after 900 May $26 calls bought $1.73 this morning and 1,800 January $25 calls with buyers
ADTRAN (ADTN) trading 15X daily calls as 1,000 Feb. 2016 $15 calls at $1.35 bought and 800 May 2016 $16 calls at $1.25 offers. ADTN shares have seen some accumulation the past month as shares rose from $14.25 support and now consolidating near the 50 and 100 day EMAs. The $805M maker of networking and communication equipment trades 25.4X Earnings, 1.33X Sales and 1.7X Book with a 2.22% yield and strong balance sheet. ADTN will present at CES in early January. MKM noted in October that Q4 2015 is a low point for ADTN and 2016 shapes up as a strong year. ADTN is rated a Hold at most ships. Institutional ownership fell 2.35% in Q3.
IBM with a buyer of 2,000 February $135 calls for $5.20 offer into weakness here, shares moving off the lows of the day. IBM has been in a steady trend lower all year but trying to form a higher low vs. the November lows. Bloomberg reported on 12/3 that the company had set an internal target of $1B in revenues for their cloud unit in FY16, a major area of focus the company and one which could help re-ignite growth at the tech laggard.
December 10th, 2015
Liberty Ventures (LVNTA) with a buyer of 2,350 deep ITM June 2016 $40 calls for $5.40 on the CBOE. The company has a lot of varied exposure including their subsidiaries Evite and CommerceHub, Liberty Interactive’s interest in Expedia and their minority interests in FTD and Lending Tree.
Caterpillar (CAT) seeing large opening action in February 2016 $62.50 puts at $2.10 to $2.25 for 9,000 contracts, a name that has started to break back lower recently and the fundamental outlook remains poor
Emerging Market Bonds (EMB) with 23,475 June 2016 $95 puts bought at $1.45 to open at the PHLX, an area at risk, and a space that has seen a surge in short positioning
December 9th, 2015
Linked-In (LNKD) weak early with 1,150 December $235 puts trading to open in $3.50 to $4.50 range with IV rising
Advanced Auto (AAP) seeing bullish flow into January $155 and $160 calls with buyers of 395 and 215 respectively, IV starting to ramp on that Sterne Agee note of it being a potential takeover target, something BAML also discussed this past Summer
Consumer Staples (XLP) a group that may be a bit over-heated and tends to underperform in rising rate environments, buyer of 20,000 June 2016 $48 puts to open at $1.66 at the PHLX. XLP’s top holdings are PG, KO, PM, CVS, MO, WMT, PEP, WBA, COST and MDLZ.
CST Brands (CST) with buyers of more than 1,000 March $40 calls for $1.10 to $1.20 with news this morning that Engine Capital is pushing the company to make changes to its business strategy or explore a sale.
December 8th, 2015
Natural Health Trends (NHTC) with 1,000 January 2016 $40 puts bought to open today in the $2.90 to $3.50 range, and 2,000 have accumulated in OI the last few weeks. As a name involved with direct-selling of personal products, it falls into that HLF, NUS, GNC category where a lot of hit pieces have been catalysts for sharp down moves.
Alaska Air (ALK) could roll over after recent strength as crude oil bounces, buyers active for 1,000 Jan. 2016 $85 puts to open at $2.90 to $3.10
Suncor Energy (SU) one of the bigger Energy reversal candles this morning and seeing bullish flow as 5,500 January 2016 $25 calls are bought to open at $1.65 to $1.70
Sempra Energy (SRE) with 1,000 December $95/$92.5 bull risk reversals opened at net credits, and also seeing some additional buyers of the $95 calls.
December 7th, 2015
Wal-Mart Stores (WMT) with more than 10,000 February 2016 $62.50 calls bought to open at $1 to $1.07, bullish flow after a recent large Jan. 2017 put sale, and a large insider purchase last week
Ariad Pharma (ARIA) with 5,000 January 2016 $5 calls bought to open $1.20 in an aggressive sweep, a name considered a potential target for Baxalta (BXLT)
Macquarie Infrastructure (MIC) now trading 4,400 puts on the day, more than 25X average and 30 day IV up 25%. MIC shares are breaking down with an ugly chart that targets at least a retest of the former $67.5 breakout level. MIC will present at the Alembic Global Advisors First Annual Industrial, Engineering, and Construction 1:1 Conference, 12/9
F-5 (FFIV) unusual large buys coming into Jan. 22nd (W) $100 calls at $7.70 for 700 contracts
December 4th, 2015
Carnival (CCL) large buyer 11,000 January 2016 $48 puts $1.35 to $1.40 ahead of earnings around 12-18, a name with a lot of put buying lately
Hasbro (HAS) with over 17,000 January 2016 $70 puts bought to open $3.25, closes out of 11,340 of the $75 puts at $6.10 for a big profit
Advanced Auto (AAP) remains weak since earnings and now 1,750 December $155 puts are bought to open $2.60 to $2.70, trading 4.5X daily puts with IV30 jumping
Lululemon (LULU) with a buyer of 5,145 December $49/55 call spreads for $2.00 on the ISE ahead of 12/9 earnings
December 3rd, 2015
Flower Foods (FLO) breaking down and trading 10X daily puts early with 1,050 July 2016 $20 puts bought $1.05 and 550 of the July $22.50 puts at $2.05 offer in a sweep
Medtronic (MDT) with more than 5,000 February 2016 $77.50 calls bought at $2.38 to $2.45 after posting a solid quarter this morning
Qualcomm (QCOM) buyer of 3,000 February 2016 $50 ITM calls at $2.55 offer. QCOM now trades a block of 10,350 Jan. 2016 $52.50 calls at $1.30 at the PHLX in a stock replacement
KKR with a buyer of 2,000 January 2018 $17 calls for $2.50 offer, long-term view in name which has been active in deal talk recently but missed out on two large P.E. deals in Petco and Armacell
December 2nd, 2015
Cal-Maine (CALM) with an opening buyer of 1,000 January $52.50 puts for up to $3.90, shares dropping to the lows of the day. BB&T lowering estimates yesterday on softer-than-expected egg prices.
Weight Watchers (WTW) drops as 1,000 April 2016 $23 puts are bought to open at $3.50 offer at the ISE. WTW up to 3,000 of those puts now bought
Salesforce.com (CRM) with 1,000 January 2016 $82.50 calls bought $2.41 to $2.68, up near new highs and has over 12,000 Jan. 2016 $90 calls in OI from large buys, reports earlier this year of it exploring a sale to possibly Microsoft or Oracle
Nike (NKE) bullish flow all morning into December 31st (W) $132 ATM calls that will capture 12-17 earnings, more than 1,370 bought at $4.55 to $4.75
December 1st, 2015
Parker Hannifin (PH) bearish flow early trading 3X daily puts the opening 15 minutes with 1,000 Jan. 2016 $105 puts bought aggressive at $3.60 offer and 1,000 Jan. 2016 $100 puts bought $1.90, opening action with shares just below trend resistance and the 20 week EMA
Nvidia (NVDA) with 2,000 June 2016 $32 calls bought to open at $3.33 to $3.50, also seeing a lot of Jan. 2016 call buying today, one of the top reports from Q3 and continues to be a strong momentum play
NXP Semi (NXPI) shares moving off the highs with 1,000 January $92.50 puts bought from $4.70 to $4.80
Russell 2000 (IWM) with the largest trade in the market today as 111,300 May 2016 $107/$90 put spreads are bought to open at $2.09, a $23.2M trade
November 30th, 2015
P&G (PG) bearish flow as 5,000 December $74 puts are bought to open $0.51 offer
PayPal (PYPL) opening buyer 1,000 December $33 calls at $2.40 to $2.45 offers into earlier weakness
Hartford Financial (HIG) with 700 June $46 calls bought to open for $2.55 to $2.65, name which has had takeover talk steady since July with Travelers (TRV) most named as the acquirer
Urban Outfitters (URBN) opening buys of 4,500 December $22 puts at $0.50 to $0.55 and then another 5,500 are bought
November 25th, 2015
Dow Chemical (DOW) shares lower today after the EPA revoked its Enlist Duo Herbicide, but a name that has been very strong lately, and trading more than 14,000 January $52.50 calls today into weakness, also the February 2016 $55/$62.5 call spread just bought 10,000X at $1.37. Dow Chemical (DOW) with a buyer of 6,500 February 2016 $52.50 calls at $2.65 at the ISE as large positions continue to accumulate with some M&A expected in the group.
Hilton (HLT) breaking to day lows with 10,000 April 2016 $21 puts bought to open $0.85 to $0.95, trading 10X daily puts. HLT recently reported a data breach.
Carnival (CCL) now with a large put purchase as well as 5,000 April 2016 $46 puts are bought $1.67 to $1.70 to open at the PHLX and ISE
BioMarin (BMRN) opening sale of over 1,000 Jan. 2016 $85 puts at $3.80 to $3.60 into recent weakness on negative FDA Panel for its DMD treatment. OpCo lowered its target to $115 this morning seeing accelerated approval at risk.
November 24th, 2015
Taiwan Semi (TSM) now with much larger bearish flow as 10,000 January 2016 $23 puts are bought to open $1.35 offer in a large sweep
Nordstrom (JWN) today with 2,500 December $57.50 calls bought $1.71 to $1.84, after puts were active yesterday, but also saw a very large $1M+ insider buy yesterday
American Air (AAL) now with large buys of 7,000 February 2016 $44 calls at $1.58 offer as buyers come in for upside in the Airline stocks that have been in a downtrend all month
Twitter (TWTR) buyer of 10,000 March 2016 $31/$36 call spreads at $0.75, closes out of 10,000 December $33/$38 call spreads
November 23rd, 2015
Anadarko Petro (APC) with 3,650 weekly $60 calls bought to open $0.56 to $0.65 as shares try and bounce off key support. APC also with size buys of 2,500 Jan. 2016 $65 calls near $1.50, stock on highs
Burlington Stores (BURL) now trading sizable spreads for earnings with the December $39 puts being sold to buy the $46/$50 call spreads, more than 8,000 contracts
Pioneer Natural (PXD) day highs, coiled name, and 1000 Jan., $160 calls bought here w/ 1,500 of the Jan. $130 puts sold. PXD also had buyer 1,000 Jan. 2016 $135 calls on 11-12 at $11.60 to $11.70
Nordstrom (JWN) sweep buyers of over 4,000 December $55 puts at $0.82 to $1.05 into the recent recovery off $51 lows from a poor earnings report
November 20th, 2015
Comcast (CMCSA) opening buy of 12,500 December $62.50 calls $1.77 at the PHLX, closes November $62.50 calls at $0.57
Kraft Heinz (KHC) with more than 2,500 December $75 calls bought in a sweep at $1.80 offer, aggressive bullish bet, and a name with a lot of recent bullish options flow, 30 day IV climbing 9% this morning, very interesting action and sizable Jan. 2017 call buys earlier this week
JD.com (JD) very close to a key breakout and buyers active for 5,000 next week $30 calls $0.50 to $0.60. JD very coiled w/ next week calls hot, breakout could play out nicely, has lagged other China net names; Institutional ownership rose over 5% in Q3 and its top holder is Hillhouse Capital, known as the best Chinese investor, and is their top holding
Ambarella (AMBA) buyers of 1,500 next week $60 puts to open here $2.25 to $2.45, rally in shares could stall. AMBA now has 44.3% of its float short, near a record high and up from 26.6% late June
November 19th, 2015
Ralph Lauren (RL) buyer of 2,500 December $125/$135 call spreads at $2.80, one of the few retailers to rise on earnings and has been strong since the management change
Prudential (PRU) buyer of 2,500 Jan. 2016 $87.50 calls to open $2.57 at the ISE. PRU shares currently flagging under $88 while above $90 key for a major long term breakout, a group that should benefit from a rising rate environment
Anthem (ANTM) buyer of 400 Jan. 2017 $150 puts to open $30.60, size trade with the group weak on the UNH guidance
November 18th, 2015
TeraData (TDC) on highs after Longbow noted the Company could be sold for $35/share, and now up to 1,900 of the Jan. 2016 $27.50 calls bought to open, deal makes some sense after the recent strong rebound after falling on earnings without explanation
Sarepta (SRPT) with 5,000 February 2016 $30/$40 call spreads bought to open at $3.70 at the PHLX, comes ahead of a big event next week for BMRN’s competing DMD treatment. SRPT has 21.9% of its float short, down from 38.5% in May.
Dollar General (DG) aggressive buyer of 5,000 December 4th (W) $60 puts $1.30 to $1.35 on a wide bid-ask, targets 12-3 earnings, another name that could get hit on weak Retail earnings
Kansas City Southern (KSU) coming out of a range and a buyer for 2,500 Jan. 2016 $95 calls at $2.35 to open, aggressive purchase on a wide bid-ask, and KSU would be the next likely rail M&A target after this CP/NSC deal.
November 17th, 2015
Green Mountain (GMCR) weak on lows with 2,500 December $42.50 puts trading $4.55 to $5.15. GMCR also with 1,000 March 2016 $40 puts bought today
Mattel (MAT) with 12,000 April 2016 $24 puts bought to open at $1.90 to $1.95 with shares up 7.3% after JANA Partners showed a new 9.3M share stake, a Company that still has plenty of issues with multiple weak earnings reports.
Time Warner (TWX) IV popped earlier with 3,500 November $71.50 calls bought at $0.66 to $0.70 to open. Time Warner (TWX) buyer of 2,000 April $75 calls $3.10 to $3.15, bullish positions continue to build
Solar City (SCTY) with 5,000 Jan. 2016 $28 puts bought $4.15 offer in a large sweep, bearish action continues to build in this highly shorted stock
November 16th, 2015
Ulta Salon (ULTA) recovering after selling off sharply Friday on big volume, earnings on 12-3, and a spread today buys 2,000 December $160 calls at $10.10 and sells 2,000 each of the December $170 and $180 calls for $8.75 credit, net $1.35 debit, targeting a move to $170
TJX Co. (TJX) traders showing confidence into tomorrow morning earnings with over 6,000 Jan. 2016 $60 puts sold to open $2.05 down to $1.95, willing buyers of the stock on weakness, a rough reporting season for Retail to this point
Shake Shack (SHAK) buyer of 3,190 November 27th (W) $40/$35 put spreads at $2.15
Weatherford (WFT) moving lower as 11,000 February 2016 $9 puts are bought to open at $0.89
November 13th, 2015
TJX Co (TJX) trading over 6,500 November $67.50 calls to open with some size buyers at $1.47 to $1.85, shares down with the rest of the retail names and will report on 11-17, potentially today being a capitulation day and with TJX being a best of breed name, may be able to rally on anything close to good results next week.
Energy Transfer Equity (ETE) down almost 5% today but a buyer here of 4,500 ITM December $17.50 calls for $1.30 to $1.35, IV spiking higher with shares on the lows of the day. The company recently announced a plan to make concessions to the FTC to ease concerns surround their acquisition of Williams (WMB). Short interest is 4.7% and up from under 2.5% in June.
Signet (SIG) being dragged lower with retail names and will report 11-24, has been one of the better names in the group in a strong uptrend and today 2,000 December $140/$150 call spreads are bought to open at $3.07. The $11.22B Co. trades 17.3X Earnings, 1.76X Sales and 3.92X Book. SIG was added to Goldman’s Conviction Buy List on 10-29.
Best Buy (BBY) with buyers of 3,000 December $32 puts to open $1.54 to $1.75 ahead of 11-19 earnings as shares break support and are weak with the rest of retail
November 11th, 2015
Salesforce.com (CRM) large buy of 4,124 January 2016 $90 calls at $1.39, looks to be closing some November, December and January calls at lower strikes, earnings on 11-18
Ross Stores (ROST) large opening buy 5,000 November $50 calls $1.20 offer in a sweep into retail weakness, earlier 3,300 of the $47.50 puts sold to close, earnings 11-19
State Street (STT) with an opening buyer of 5,500 December $75 calls for $0.84, IV popping with shares on the day’s lows. The company recently reporting weaker-than-expected results but outlining a plan to achieve $500M in cost savings over the next several years.
Suburban Propane (SPH) trading 15X daily puts with 1,500 Feb. 2016 $30 puts bought to open $0.90 to $1 ahead of earnings tomorrow morning, ugly chart
November 10th, 2015
Autodesk (ADSK) shares rebounding from some downgrades this morning, strong since Sachem Head disclosed a 5.7% stake in the Company, and today the April 2016 $75 calls with 2,000 bought to open $1.55, look to be rolling up 1,000 of the $65 calls
Expedia (EXPE) has pulled back since its deal for Home Away (AWAY), and today an opening buyer 1,000 December $125 calls at $7.50 to $8.20 steps into the weakness
Land’s End (LE) with a large opening buyer of 3,250 January $25 puts for $3 to $3.10, more than 15.5X average put volume. The company should report in early December. Short interest is 49.44%, up from around 10% in April of this year
Tiffany (TIF) with a buyer of 1,700 December $77.50/70 put spreads for $2.11 ahead of earnings 11/24, a name at risk to higher currency impacts and weakening demand in Asia. More than 3,500 of these trading now.
November 9th, 2015
Semiconductor (SMH) with 10,000 December $54/$50 put spreads bought to open at $1.05 as the group consolidates, lifted recently by an uptick in M&A. SMH top holdings are Intel, Taiwan Semi, Qualcomm, Texas Instruments, ASML Holding, and ARM Holding, all of which have seen some put activity as well
Target (TGT) with over 3,000 weekly $76.50 puts bought in early action as bears continue to target Retailers
Hawaiian Air (HA) opening buyer 2,000 Jan. 2016 $40 calls at $1.25/$1.30, a very strong name lately that also recently had OTM April call buys
Zebra Tech (ZBRA) buyer of 1,850 Feb. 2016 $80 puts at $6.20, rolls out of 925 of the November $105 puts closed at $24
November 6th, 2015
Qihoo (QIHU) with 1,000 December 24th (W) $67 calls bought to open $1.50 to $1.55 with shares trading $61.35, nearing a key long term channel breakout above $62.50 and Chinese internet names have been strong lately, added benefit of the BABA/YOKU deal this morning
Discovery (DISCA) opening buy of 600 ITM April 2016 $27.50 calls at $3.50 offer
Zoetis (ZTS) with 1,000 December $48 calls bought to open for $1.10 to $1.15, notable with the company looking at M&A possibilities and Sanofi disclosing this morning that it was exploring options for its Animal Health unit.
Walt Disney (DIS) trading 25,000 December $115 / April $110 put diagonal spreads to open at $2 debits after posting earnings last night.
November 5th, 2015
Microsoft (MSFT) buyer of 14,000 Jan. 2017 $60 OTM calls to open $2.74, closes out 7,000 of the $47 calls
Nvidia (NVDA) weekly $28/$30/$32 call fly trades 10,000X20,000 into earnings
Qiwi (QIWI) unusual opening buy of 1,000 May 2016 $20 calls at $1.90. The $919M online payment services Co. with a focus on Russia trades 11.65X Earnings, 3.65X Sales and 3X Book with a 5.93% yield. Shares upgraded to Neutral from Sell at Goldman on Monday ahead of 11/10 earnings.
Russell 2000 (IWM) with 15,000 Nov. 27th (W) $117.50 puts bought to open $1.93 to $1.97 this morning
November 4th, 2015
Blackstone (BX) with an opening buyer of 2,000 March 2016 $37 calls for $1.33, shares trading in a very tight range since early October and follows recent call buying in peers OZM and KKR. The company in the news recently after reportedly nearing a deal to buy Stuyvesant Town Apartments for $5.3B and also a minority owner of the Weather Co, which announced a $2B deal to sell their data and digital assets to IBM. The $40.98B asset manager trades at 10X forward estimates with a 5.67% yield at these levels.
Magna (MGA) December IV jumping three points at 11:14 with a sweep of 2,000 December $50 puts for $1.05 to $1.10 ahead of earnings tomorrow morning. MGA shares downgraded in late September by CIBC on exposure to Volkswagen, 11% of its overall revenue
SunOpta (STKL) trading 30X daily calls with 2,000 June 2016 $7.50 calls bought to open at $0.60. The $508M organic foods Co. trades 14.1X Earnings, 0.43X Sales and 1.15X Book and will report on 11-11
Ally Financial (ALLY) with a buyer of 5,000 January $21 calls for $0.74 following earnings last week; shares trading in a steady channel down and looking at trend break over the 50-day around $20.75. The company reported originations up slightly to $11.1B in Q2 with Ally Bank deposits up 15%.
November 3rd, 2015
Kansas City Southern (KSU) spread sells 2,800 Dec. 11th (W) $82 puts to buy the $89/$94 call spread. Topeka started KSU at Buy this morning.
Bed Bath and Beyond (BBBY) IV popping with 2,500 November $60.50 calls bought to open $1.14 to $1.31, shares coming out of a base and above 50 day EMA for first time in awhile
The Gap (GPS) with over 5,000 November $28.50 puts being bought to open $1.25 to $1.27 into strength in retail with GPS earnings on 11-19
Metlife (MET) also with a large volatility buy here as 4,000 December $52.50/50 strangles bought for $2.16 on the ISE
November 2nd, 2015
Ingersoll Rand (IR) unusual action early at more than 1X daily calls in the first 15 minutes as 1,135 March 2016 $55 calls are bought to open at $5.80 to $5.90
F-5 (FFIV) early morning buyers 1,000 Nov. 27th (W) $107/$112 call spreads at $2.50 and more than 3,000X now trading.
US Steel (X) with 4,000 OTM April $9 puts bought to open $1.25 into strength today, a name with a massive short float. X now with 2,500 deep ITM April 2016 $17 puts bought at $5.85
Toll Brothers (TOL) opening buys 1,400 December 4th (W) $34 calls at $2.65 to $2.70, bullish ITM buys with shares recently finding $35 as a level of support
October 30th, 2015
Accenture (ACN) buyer of 1,500 December $105/$95 put spreads at $1.65
Jarden (JAH) with a buyer of 1,000 April $45 calls for $3.40 to $3.50, looking for a bounce back after shares down more than 15% since announcing a deal for Jostens and reporting earnings. The $9.8B Company trades 14.2X Earnings, 1.18X Sales and 3.2X Book with positive EPS growth, shares down 7% YTD.
Under Armour (UA) bearish flow as 1,750 April 2016 $87.50 puts are bought to open $5.70, recently large roll to December $95 puts as well
Ruger (RGR) bearish flow as 1,250 November $57.50 puts bought to open $2.35 to $2.40 into 11-4 earnings
October 29th, 2015
Motorola Solutions (MSI) 30 day IV up 19.7% today and one of the stronger names since July, currently flagging under the $71 level ahead of 11-4 earnings. MSI is seeing November $75 calls with buyers throughout the day in smaller lots, but more than 3,000 trading on the day at $0.60 to $0.71. MSI has closed higher 3 of the last 4 reports. Value Act is the largest holder of MSI, its 9th largest position. MSI was seeking a buyer earlier this year, but was unable to finalize on a deal.
Dollar Tree (DLTR) with IV rising sharply as 2,785 November $65 calls are bought to open at $1.50, aggressive buyers as shares look to rebound out of this basing pattern. DLTR had that notable buyer of 4,500 Jan. 2017 $75 calls at $4.40 to $4.50 on 10-16
PG&E (PCG) trading 15X daily calls with 30 day IV rising 7% today, the December $55 calls with 4,500+ bought $0.35 to $0.45. On 9-22 the November $55 calls attracted some buyers as well. PCG has submitted its proposed rate increase to the California Public Utilities Commission. The $25.9B Utility trades 14.1X Earnings and 1.59X Book with a 3.44% yield.
HollyFrontier (HFC) with an opening buyer of 2,000 January $49.50 calls for $2.60 offer, IV and shares popping to the highs of the day. HFC recently had a big buyer of 10,000 January $54.50 calls on 10-27 ahead of earnings 11/5.
October 28th, 2015
F-5 Network (FFIV) with 1,000 December $120 puts bought to open at $6.30 to $6.45, sizable trades into earnings tonight. FFIV has closed higher 4 of its last 5 reports, but short interest at 9.9% of the float has risen to near a 3 year high. FFIV also has 2,350 of the weekly $116 puts in OI
Hyatt (H), set to report a deal for Starwood (HOT), seeing over 3,500 November/Feb. 2016 $50 put calendar spreads trade to open at $1.50. H now trades 2,000 Nov. / May 2016 $50 put calendar spreads
Pharma ETF (PPH) buyer of 1,600 Jan. 2016 $65 puts $2.45. PPH top holdings by weight include (largest to smallest) JNJ, NVS, PFE, GSK, BMY, MRK, SNY, AGN, ABT, SHPG, LLY, ABBV, AZN, TEVA, MCK, PRGO, ZTS, ABC
Mondelez (MDLZ) shares unable to rally today on strong earnings and may be forming a double top with August highs, and December $45 puts bought to open 5,000X this morning $0.71 to $0.75.
October 27th, 2015
Children’s Place (PLCE) with an opening buyer of 1,000 November $55 calls for $1.65 to $1.75 offer, more than 10X average call volume with 30-day IV up 12.8%. BAML cut estimates this morning as they see risk to SSS guidance going forward and potential for margin contraction. On 9-22, the company reiterated flat SSS for the year. The company should report in mid-November although unconfirmed as of now. High short name with more than 16.32% but down recently from more than 28% one year ago.
Starz (STRZA) with a buyer of 1,000 November $37/$41 call spreads ahead of earnings at $1.32 to $1.40. STRZA has been rumored as a merger target for Amazon or Lions Gate.
Cooper Industries (COO) seeing unusual put buying today trading 10X daily and 30 day IV jumping more than 20%, mostly scattered smaller action, but the play could be on potential issues with contact lenses pricing, and Cooper Vision accounts for 85% of revenues.
Holly Frontier (HFC) opening buyer 10,000 January 2016 $54.50 calls at $0.53 to $0.60 with TSO set to report soon, a Company reportedly that was interested in acquiring HFC
October 26th, 2015
Nu Skin Enterprises (NUS) buyer of 2,000 January $35 puts for $2.50, controversial name with allegations of fraud before and still has 4,000 December $40/30 put spreads in open interest.
Emerson Electric (EMR) big buyers coming in for 4,000 November $49 calls at $0.85 ahead of 11-3 earnings, recent buyer of 5,000 Jan. 2016 $49 calls as well as Industrials improve. EMR now with 10,000 of the November $47 calls rolled up to the $49 strike
Liberty Global (LBTYA) with a buyer of 2,000 April 2016 $52.50 calls at $1.35 to $1.40, earnings early November and stock has been weak since Vodafone (VOD) buyout interest fizzled
Microsoft (MSFT) with a sale of 5,000 Feb. 2016 $55 calls $1.64 earlier, but seeing large buyers of December $55 calls today with 18,500 trading at $0.77 to $0.92, strong bullish flow after an impressive earnings report with investors focusing on strength in cloud revenues and potential turning point for PC’s with the Windows 10 rollout
October 23rd, 2015
Cisco (CSCO) with over $1M call premium bought today with 5,400 Jan. 2016 $30 calls at $0.72, 5,000 November $30 calls $0.44, and 5,000 December $30 calls at $0.60, earnings around 11-11 and recent strong action in large cap Tech
Whole Foods (WFM) seeing buyers of 3,500+ November 6th (W) $31 puts at $1.12 to $1.15 that will capture 11-4 earnings
Trip Advisor (TRIP) dropping to day lows with November IV ramping as 3,000 November $80 puts are bought to open $2.90 to $3.30
Panera Bread (PNRA) charging higher this morning with 1,000 November $190 calls bought to open $4.70 to $5.30, earnings 10-27. PNRA has 10.66% of its float short, down from 14.3% in May.
October 22nd, 2015
Amazon (AMZN) buyer of 4,500 next week $610/$640 call spreads, closes out the Jan. $510/$580 bought into last Q
Generac (GNRC) buyer of 10,000 January $28 puts for $2.05 on the PHLX, rolling out of 5,000 November $32.50 puts which close at $4.50. The company will report on 10/28 and shares weak YTD, down from around $50 in April, with concerns over slowing growth.
Sketchers (SKX) strategist buys 5,000 October 30th (W) $46 calls for $2.15 to $2.25 and sells 5,000 October 23rd (W) $50.50 calls for $0.62 to $0.50, reports earnings tonight after the close
VMware (VMW) with 3,500 December $55 calls bought to open $4.20 to $4.50 after shares tanked on earnings yesterday but rumors this morning that HP Enterprise could be interested in an acquisition of VMW. VMW now with 8,500 December $65 calls bought to open from $1.20 to $1.30 with earlier talk of interest from HP Enterprise
October 21st, 2015
Select Comfort (SCSS) trading 30X daily calls as 3,000 December $22 calls are bought to open at $1.30 to $1.40, earnings set for 11-4. SCSS are nearing the lows for the year and 8.35% of its float short. The $1.17B mattress Co. trades 13X Earnings, 0.92X Sales, and 18.25X FCF with strong 15%+ EPS growth.
Relypsa (RLYP) buyers of 2,500 November $20 calls $2.30 to $2.50, comes ahead of the Patiromer PDUFA set for today, Cantor sees 80% chance of approval and has a $42 target. RLYP also had a buyer of 2,000 Dec. $22.50 puts at $3 on 8-11.
Disney (DIS) buyer of 6,000 November 6th (W) $113 calls $1.81 that capture earnings 11-5, closes 7,500 this week $110 calls for a big gain. DIS also with 1,500 ITM November $112 puts bought this morning $3.65
Insys Therapeutics (INSY) bearish flow with 1,000 November $24 puts bought to open at $4.40 offer and more than 1,500 November $22.50 puts bought to open as well, shares dropping to the lows. 30-day IV soaring up 37.9% as shares break below recent support.
October 20th, 2015
Goldman Sachs (GS) with 3,000 January $200 calls bought from $1.84 to $1.85, looks to be adding to open interest with more than 7,500, shares consolidating the last three sessions following earnings and also with 5,000 November $185 calls bought to open last week
Visa (V) trading 6,000 November 6th (W) $77 calls to open at $1.98 to $2.01, rolled out from October 30th (W) $77 calls, and will capture early November earnings and likely the decision on Visa Europe
Hologic (HOLX) with a large buyer of 1,000 December $40 ITM puts at $3.10 to $3.20 with earnings on 11-4. HOLX shares on the lows of the day following news the American Cancer Society has now recommended annual mammograms starting at age 45 vs 40 prior
Applied Material (AMAT) now with 7,500 November 13th (W) $16 calls bought to open $0.49 to $0.50, earnings on 11-12
October 19th, 2015
NX-Stage Medical (NXTM) with a buyer of 2,000 November $15 calls to open $1.60 to $1.65, a name with sizable December call OI. NXTM is a $1B medical device Company with products for kidney failure, fluid overload and blood treatments. NXTM will host an Investor Day on 11-3-15 along with earnings. NXTM is targeting company-wide profitability in 3 years. Cortina Asset Mgmt. and Point 72 are among the top holders of NXTM.
Netflix (NFLX) red to green reversal today and one of the more active plays is the November 6th (W) $98/$103 call spreads being bought 2,000X
Dril-Quip (DRQ) unusual opening buy of 1,000 March 2016 $55 puts $2.25
GNC Holding (GNC) spread buys 1,750 November $40 puts $2 and sells 1,000 November $35 puts $0.40, similar bearish spreads traded last week
October 16th, 2015
Biotech (IBB) large opening buy 5,000 December $340 calls $7.46 to $8. The top 10 holdings comprise 60.25% of the ETF, and in order of largest to smallest allocations are BIIB, GILD, CELG, AMGN, REGN, ALXN, ILMN, VRTX, INCY, and MYL.
Universal Insurance (UIHC) trading 6X daily calls with 750 February 2016 $15 calls bought at $1.80 to $1.85, already OI of 2,964 with accumulation since late August. The $320M Insurance Co. trades cheap at 9X Earnings, 1.44X Book and 3X Cash, and with a lot of deals in the space, could be a nice target.
MGM large trades hit as March $22 calls with 5,500 bought at $2.08, March $23 calls with 6,500 bought at $1.65, and March $24 calls with 9,500 bought at $1.28. Positions look to be rolling out of large December holdings.
Synaptics (SYNA) interesting spread trades ahead of earnings next week 10/22 with 2,200 December $95 calls bought for $3.55 against 6,000 November $65 puts sold for $0.45 and also sells 6,000 December $65 puts at $0.45. SYNA reportedly turned down a $110/share buyout offer from a Chinese Investment Group according to Bloomberg on 9-30
Google (GOOGL) seeing big buyers of over 3,000 October 30th (W) $720 calls $11.70 to $12.20 ahead of 10-22 earnings
October 15th, 2015
Goldman Sachs (GS) big buyers coming in for November $185 calls at $3.35 in a sweep, shares strong despite posting weak results, and more than 5,000 contracts trading
Kroger (KR) with an opening buyer of 5,000 April $32.50 puts for $1.25 on the PHLX ahead of Investor Day on 10/27 and coming after Wal-Mart (WMT) taking down 2017 estimates yesterday.
Phillip Morris (PM) not much of a move on results and having trouble breaking above this major range resistance, a buyer of 2,010 December $85 puts at $2.11 to open this morning
Mobileye (MBLY) opening buyer of 1,500 December $50 puts paying up to $4.70, shares weak early
October 14th, 2015
Radius Health (RDUS) large spread sold 2,000 January 2016 $55/$45 put spreads for a $4.70 credit and bought 2,000 Jan. 2016 $60 calls $10.50. RDUS had a buyer of 1,000 Jan. 2016 $65 calls $12.20 on 10-8 and has been mentioned as a M&A target for Shire and others.
Wynn Resorts (WYNN) calls hot with earnings confirmed for 10-15, the October $73 calls bought 3,000X to open at $2 and 2,000 of the Oct. $72.50 calls trading as well
Exxon Mobil (XOM) buyer of 3,000 October 30th (W) $80.50 calls to open at $1.08 offer
NXP Semi (NXPI) bearish action with 3,000 October 30th (W) $87 puts bought to open at $3.70 to $4, targeting 10-28 earnings, shares struggling at trend resistance
October 13th, 2015
C&J Energy (CJES) opening buy of 3,000 January 2016 $4 calls at $1.31 to $1.40
Parker Hannifin (PH) buyer of 2,000 November $110 ITM puts at $7.50 to $7.80 ahead of 10-22 earnings. PH is oil & gas exposed industrial and comments from FAST this morning suggesting that their specific exposure to those end-markets not yet seeing full recovery
AMC Networks (AMCX) shares very weak today down more than 3.5% and a buyer of 1,000 November $75 puts to open here for $2.85 on the AMEX
Suncor Energy (SU) IV climbing with a buyer of 5,000 December $28 calls to open at $1.67 to $1.69
October 12th, 2015
CommVault (CVLT) IV declines as 7,500 November $32.50 puts are sold to open at $0.50, a popular strategy in this name lately, and storage M&A in focus after the EMC deal
Cognizant Tech (CTSH) opening buyer of 2,000 November $67.50 puts for $3.60, shares on the LOD and IV spiking; the company will report 11/4
Coca Cola (KO) buyer of 5,000 deep ITM February 2016 $39 calls at $3.60, closes out of November $39 calls, sticking with the name. KO is breaking out of a weekly channel down within a much large channel up pattern
Melco Crown (MPEL) buyers moving into November $20 calls at $0.68 to $0.70 for 3,500+ contracts
October 8th, 2015
Kraton Performance Polymers (KRA) odd buyer of 750 April $22.50 calls for $1.75 offer on a wide spread to open, more than all of options open interest combined. KRA been under heavy accumulation since its 9-28 $1.37B cash deal to acquire Arizona Chemical Holdings, expected to add $1.40/share in earnings in the first full year after closing. KRA shares are breaking out of a channel down pattern and at 8.35X Earnings, 0.58X Sales and 1.66X Book, a cheap name.
Retrophin (RTRX) buyer of 2,000 March 2016 $25 calls at $2.75 to open at the ISE, and in the March contracts already a spread in OI with 10,000 of the $20 puts sold to buy 10,000 $27.5/$35 call spreads
Yelp (YELP) large sweep buyer 4,000 January 2016 $26 calls at $2.15 offer. YELP bid-ask was $1.60-$2.15, so an aggressive buyer. YELP has 21.5% of its float short, steady over the past year. YELP calls jump to 10,000X now, big buyer $2.25
Alcoa (AA) moving to day lows as 10,000 December $10 puts are bought $0.53 offer in a large sweep following weak earnings
October 7th, 2015
Lear (LEA) trading 1,500 November $115 ITM calls to open at $4.90 to $5.20, earnings 10-23 and a name that is not far from new highs. LEA was highlighted back on 9-15 when 1,000 March 2016 $110 calls bought to open at $6.70.
Intel (INTC) buyers of 5,500 November $31 puts at $0.89 to $0.92 this morning after 4,000 bought to open yesterday, some bearish flow ahead of earnings 10-13, a name that has rallied sharply the last 2 weeks
Monster Beverage (MNST) unusual opening buys of 1,500 October 30th (W) $126 puts at $1.30 to $1.45
Kansas City Southern (KSU) buyer of 3,500 October $98.50 calls to open at $2.19 to $2.25, rolls up from $95 strike, and will capture 10-16 earnings
October 6th, 2015
Allergan (AGN) sizable buyer of 5,000 November $295/$320 call spreads at $5 and also buyers of 1,500+ November $280 calls at $11.50, large bullish flow continues despite the overall weakness in drug companies
Marriott (MAR) with a buyer of 1,750 November $75 calls for $2.15 offer, IV climbing a bit here and recent buyers in the November $67.50 calls sparking shares back on 9/30
Transocean (RIG) buyer of 25,000 November $16/$12 put spreads at $1.17 with Energy names reversing earlier gains, looks to close 137,800 November $11 puts as well
Align Tech (ALGN) trading 7X daily puts with 1,000 January 2016 $50 puts bought $1.90 to $2.07, earnings on 10-22
October 6th, 2015
Stryker (SYK) with more than 2,000 November $95 puts bought to open, some roll outs from October $100, and another Healthcare name rolling over today after re-testing a key level.
Dollar General (DG) bearish flow with 2,000 October $69.50 puts bought to open $1.40, stock near a big breakdown
HD Supply (HDS) trading 3.5X daily call volume on the morning with a buyer of 1,000 November $30 calls from $1.33 to $1.35, nice report recently and guiding Q3 slightly above the Street. The company recently completed the sale of its Power Solutions business to Anixter.
Illumina (ILMN) big trade sells the October $125 puts to open 12,500X at $1.80, looking for downside now to be limited. ILMN $130 low today a key level from 2014 that was a major bottom/base
September 30th, 2015
Generac (GNRC) trading 3,300 October $30 calls today ahead of an expected Hurricane this weekend
Russell 2000 (IWM) two large trades today, Oct. 30th (W) $114 puts close 33K and buy 40K of the $109 puts, also 30K Dec. 31 (Q) / June 2016 $100 Put Calendar 30,000X
ARC Document Solutions (ARC) very unusual buyer of 1,250 February $5 calls for $1.10 to open on a wide 0.20×1.30 spread, 250X average call volume and more than all of open interest combined. The $242.5M company provides document solutions with end-market exposure in architecture, engineering and construction industries. Shares trades at 8.97X forward earnings, 0.56X sales and 6.6X free cash flow with strong earnings growth over the last year.
Autodesk (ADSK) trades 3,000 January 2017 $60/$35 bull risk reversals to open at $0.21 debits. ADSK nice long-term view in a name that is undergoing a business model transition; JPM note yesterday after Analyst Day says the company’s revenue and margin guidance was a major step as it was one of the clearest view the company has given yet as to how it views the transition over the next five years
September 29th, 2015
Lam Research (LRCX) opening buyer of 1,000 March 2016 $65 calls from $4.90 to $5.10 offer. LRCX positive note from CLSA last week noting that fears of cuts to DRAM CapEx shouldn’t impact the company as bad as others as they see NAND spending to increase where Lam has greater exposure.
Royal Caribbean (RCL) opening buyer 1,000 November $90 calls $3.05 to $3.10 with shares touching back near it s20 week EMA, one of the few uptrends remaining intact
Caterpillar (CAT) rising today after October call buyers into weakness yesterday, and today also trading 4,000 January 2016 $65/$60 bull risk reversals at $0.73 debits
Pandora (P) large sweep buyer of November $20 puts 8,000X at $1.40 offer with it one of the stronger stocks since July, looking for a pullback
September 28th, 2015
AerCap (AER) pop off lows as 1,000 November $40 calls are bought to open $2.30 offer, aggressive bullish purchase
Croc’s (CROX) buyer of 2,000 November $15 puts to open $1.70 offer. CROX holding a 9-30 Investor Day
Rackspace (RAX) with over 6,000 next week $26 puts bought $0.69 as 3,500 of this week $29 puts close $2.35, trader been successfully rolling down and out for a couple weeks now
C-Trip.com (CTRP) with 1,000 November $72.50 calls bought $2.45 to $2.50 to open, interesting action with shares holding above $62.50 support and seeing some bullish options action in QUNR as well lately
September 25th, 2015
Carlyle Group (CG) trading 6.5X daily call volume early with a buyer of 1,000 December $20 calls for $0.70, talk recently that the company was exploring a bid for Petco valued around $4B
Rockwell Automation (ROK) with an opening buyer of 1,000 November $95/85 put spreads for $2.10 after a buyer of 1,000 October $100 puts bought earlier this week
Foot Locker (FL) buyer of 3,000 November $80 calls at $1.75 as the $77.50 calls form earlier this week roll up a strike
NVIDIA (NVDA) buyer of 2,000 November $24 calls at $1.33 offer to open
September 23rd, 2015
Retrophin (RTRX) large bull covered risk reversal opens as 10,000 March 2016 $20 puts are sold to open $2.93 and the $27.5/$35 call spread in bought 10,000X at $2.73, net credit on the spread, so willing to be long the stock down at $20, but also partaking in any upside, a name with 5,000 each of the December $30 and $37.50 calls in OI.
Nike (NKE) spreads active for earnings tomorrow night are buying October 2nd (W) $117 calls and selling twice as many of this week’s $122 calls, 2400X4,800
DuPont (DD) opening sales of 5,000 October 30th (W) $47.50 puts at $1.12, seeing limited downside for shares that look to be bottoming, and Citi out positive yesterday seeing plenty of value unlock levers
Alexion Pharma (ALXN) buyer came in for 800 November $185 calls at $2. ALXN bullish Cowen note in early August speculated that the company could be an attractive target even after the Synageva deal; would attract a large suitor as the company is likely to generate around $4B in FY17 revenues . ALXN also on 9/14 a trader sold 1,000 November $155 puts to open $7.65, a major area of support that was tested this morning.
September 22nd, 2015
Baxter (BAX) buyer of 10,000 January 2016 $35 calls at $2.20 offer to open, stock replacement. Third Point disclosed a 7% stake in BAX in early August. BAX began a search for a new CEO in late July with a potential timetable for the current CEO to step down early next year
Best Buy (BBY) October 2nd (W) $38 puts bought to open 3,000X at $1.35
Schlumberger (SLB) shares attempting to trend higher intraday with Oil Services one of the stronger groups and opening buyers started in October 2nd (W) $73 calls at 12:16pm, more than 5,000 now bought over 15 minutes up to $1.33, looking for a bounce.
Berry Plastics (BERY) trading 18X daily puts as 3,000 October $30 puts are bought to open $0.50 to $0.60. BERY announced a $2.45B deal for AVINTIV in late July
September 21st, 2015
FMC Technologies (FTI) IV dropping with an opening sale of 9,000 October $36/30 strangles for $0.70 credit
Disney (DIS) trading 20,000 November/December $100 put calendar spreads at a $1 debit, positioning for shares to stick in a range and optimally close November OpEx at $100
Therapeutics MD (TXMD) buyer of 4,000 December $7.5/$12.5 call spreads at $1.50, a small Biotech that has previously seen a lot of large bullish positioning
Aetna (AET) now with an opening buyer of 5,000 October 2nd (W) $120 calls for $1.64 to $1.67 w/ October 19 shareholder vote on Humana deal and Congressional hearings upcoming
September 18th, 2015
Anheuser Busch (BUD) with 5,000 October $120/$125 call spreads bought at $0.85, could see formal details of the SAB-Miller deal soon
Oracle (ORCL) shares green in a weak tape after falling earlier this week on disappointing earnings. ORCL is seeing opening buyers of 5,500 November $37 calls this morning $1.12 to $1.17. ORCL has a ton of cash to do a deal, possibly its next catalyst.
Treasury (TLT) opening sale of 10,000 December $129/113 strangles for $2.05 on the PHLX, looking for shares to remain range bound through year end between 8/24 highs and near 52-week lows
Holly Frontier (HFC) with 5,500 October $50 calls bought $1.30 to $1.36, been speculation of Tesoro (TSO) acquisition attempts
September 17th, 2015
Cabela’s (CAB) December IV diving after 2,500 $55/$45 strangles were sold to open for $2.70
Qlik Tech (QLIK) trader closes out 6,000 November $36 calls and opens the November $40/$36 bull risk reversal 6,000X4,000
Holly Frontier (HFC) with 1,500 December $47 calls bought to open at $3.10 after reports of a Tesoro (TSO) conference cancellation, a Company that reportedly tried to buy HFC in the past
Tesla (TSLA) October 2nd (W) $260 puts with opening action for 1,000 at $7.95 to $8.15
Sensata Tech (ST) trading 1,000 December $40 deep ITM calls $7.40 to $7.50
September 16th, 2015
Allergan (AGN) traded 1,500 January 2016 $330/$275 bull risk reversals at a $0.30 debit at the PHLX, a name that 1,500 November $330 calls added to OI from buys yesterday
Heron Therapeutics (HRTX) buyer of 7,500 November $40/$60 upside call spreads, closes 7,500 October $35 calls as bulls stick to this name. Shares initiated buy at BAML last week with a $46 target.
Air Products (APD) seeing a sharp move higher in September IV with 1,275 of the $135 calls bought at $2.30 to $3.10, presenting at CSFB Materials Conference tomorrow. APD original 1K block Sep $135 calls bought $4.60 on 7-29. APD buyers paying way up to $4.10 for these September $135 calls now with 2,600 trading
Anadarko (APC) with 1,500 October 2nd (W) $74 OTM calls bought $0.43 to $0.51, speculative action with potential for XOM acquisition. APC also with 2,000 of next week $70 calls seeing opening action
September 15th, 2015
TrovaGene (TROV) unusual opening buys of 720 ITM April $5 calls with shares basing the last few weeks. Leerink on 8-14 started TROV at Outperform with a $9 target noting it is a pure play in the cancer liquid biopsy market which could become the largest in molecular diagnostics. On 8-12 the CFO bought 15,000 shares at $5.43. TROV traded 16X daily call volume on 8/28 as well when 2,500 January $7.50/10 call spreads were opened for $0.50
Rackspace (RAX) buyer of 3,500 October 2nd (W) $31 puts $1.35 to open, rolls out of September $31 puts
Bristol Myers (BMY) opening buyer 2,000 October 23rd (W) $60 calls at $2.18 to $2.22
Deluxe Corp (DLX) very unusual opening buy of 1,000 April 2016 $55 puts at $4.30 to $4.40, trading 25X daily puts. DLX is a $2.92B provider of small business solutions that trades 12.15X Earnings, 1.68X Sales, and 14.6X FCF with a 2% dividend yield, but sub-10% EPS growth. DLX recently lost long term trend and weekly cloud support.
September 14th, 2015
ï»¿Potash (POT)ï»¿ back on 8-21 with 4,000 January 2017 $32 calls bought to open at $1.01 and trading another 4,000 today at $0.99 to $1.01. POT shares remain weak near year lows, down 28% YTD, but now yielding over a 6% dividend and trading 12.4X Earnings and 2.29X Book. POT has been pursuing a deal for German salt and fertilizer Co. K&S AG.
GlaxoSmithKline (GSK) shares on the highs of the day and a buyer of 1,150 January 2017 $40 calls for $3.00 to $3.10 offer, sizeable buys and a name which has been mentioned as a big target for someone like Pfizer should they choose to make a major acquisition
Caterpillar (CAT) trader buys 5,000 November $65 puts for $1.56 after closing out 3,500 September $73 puts at $1.47/1.48; bearish commentary from Baird earlier this month as they see bookings continuing to remain sluggish and China Macro environment also a negative
Anheuser Busch (BUD) massive buyer of 11,000 December $115 calls at $3.10 offer on a wide bid-ask at the ISE
September 10th, 2015
GW Pharma (GWPH) buyer came up for 1,000 February 2016 $50 puts $5.50 to $6.10 with shares trading above $105.
Mobile Mini (MINI) unusually large opening buy of 2,000 February 2016 $30 puts at $2.60 on the PHLX, aggressive on a wide bid-ask and equal to 6.5X total put open interest
Red Hat (RHT) early bearish flow with 2000 October $70 puts bought at $4, stock forming a bear flag ahead of 9-17 earnings. RHT also with 1,500 September $70 puts swept $1.40 to $1.45
Symantec (SYMC) IV rose yesterday afternoon as 3,000 October $21 puts were bought to open $1.26 to $1.37. SYMC shares could suffer a big breakdown on a break of $19.50 support. The $13.7B Co. trades 10X Earnings, 2.3X Book and 25.5X FCF with a lot of cash and a 3% yield, but growth has been the issue with its ties to the PC market, and being lapped my newer Tech players.
September 10th, 2015
CableVision (CVC) with 5,980 October $30 calls bought $1.30 to $1.35 with many expecting an Altice buyout, price of around $34 been mentioned, though also a cautious note out this morning on the risk in shares without a deal
Expedia (EXPE) opening buyer of 1,000 November $110 puts for $6.40 offer in a large sweep, IV climbing with the buys.
Baxter (BAX) opening buyers of 1,950 January 2016 $35 calls at $2.75 to $2.90. BAX shares have pulled back around 15% from August highs when Third Point disclosed a 7% stake in the Company. The move came after Baxter’s spin-off of Baxalta (BXLT), which then saw a $30B buyout offer from Shire. BAX has a 10-24 PDUFA for MM-398.
Exxon Mobil (XOM) buyer of 5,000 October $72.5/$77.5 call spreads at $1.83 a day after OpCo noted the Company needs to make a large acquisition
September 9th, 2015
Aerojet (AJRD) jumping with 1,000 October $22.50 calls bought $0.80 to $1.05, reportedly set for a $2B deal for United Alliance, a BA/LMT rocket JV
Mobileye (MBLY) buyer of 1,000 December $48 puts pays the $4.30 offer to open
Arris (ARRS) opening buyer of 1,000 February $30 calls paying up to $2.60 offer. The company announced last night that it now sees accretion from its Pace deal to be 50% higher than previously expected at $0.65-0.75 per share in the first year.
Arista Networks (ANET) bearish flow with 2,000 October $80 puts bought to open at $5.20 to $5.30, trading 4X daily puts.
September 8th, 2015
Aetna (AET) with 2,500 September $117 calls bought at $2.48 to $2.80 while October $120 calls seeing action as well. RBC upgraded shares to Outperform this morning with a $162 target seeing likelihood of the Humana deal. AET remains the best value in the space that continues to see tailwinds from the Affordable Care Act. AET shares recently held the 200 day MA and basing for a few weeks now in a strong trend, looking to resume to new highs.
Adeptus (ADPT) unusual buyers today in the February $125 calls as 400 trade for $9.30 to $9.60 offer, sizeable contracts and more than 20% out of the money. The $2.1B operator of emergency rooms in the U.S. has been in a strong trend higher since early 2015 and saw big Q/Q jumps in sales and EPS in July
Union Pacific (UNP) IV jumps with 2,000 October $85 puts bought to open $2.29
September 1st, 2015
Dow Chemical (DOW) spread sells 6,500 December $37 puts to open to buy 6,500 December $43/$48 call spreads, net zero cost for the bull covered risk reversal.
Gildan (GIL) buyer of 1,000 December $30 calls $2.55, aggressive on a wide bid-ask, and comes after 1,000 bought at $2.50 on 8-27.
Internap (INAP) trading 70X daily calls with 1,245 October $10 calls trading to open at $0.30 to $0.45, unusual action and shares up 11.8% this morning on strong volume in a weak tape after the Company announced plans to exploring strategic alternatives to maximize shareholder value.
August 31st, 2015
Ultra Short Euro (EUO) hot early action with 3,500 November $24 calls bought $1.20 to $1.40 after 6,500 opened on Friday. Euro (FXE) buyers of 1,800 December $108 puts at $1.81 to $1.83, so another bearish Euro bet
Qlik Tech (QLIK) unusual opening buyer 1,500 October $39 calls $1.60 to $1.70 offers. QLIK also has a 6K block in November $36 call OI and 7,500 February 2016 $37 calls
Holly Frontier (HFC) with 3,000 October $50 calls bought to open $1.65 to $1.70, a name with sizable OI in September calls and was reportedly approached by Tesoro (TSO) for a deal in the past
Novavax (NVAX) unusual opening buyer 1,000 January 2017 deep ITM $7 calls at $6.40 to $6.50, an options chain where there are more than 5,500 of the $10 calls in OI
August 27th, 2015
Incyte (INCY) buyer of 4,500 January 2016 $135/$165 call spreads for $6, large trade in a Biotech considered a likely M&A target. INCY has a $19.58B market cap and posted 63.7% revenue growth last quarter, a top player in the IDO space recently started Overweight with a $125 target at Barclays. INCY is the 2nd largest holdings of the Baker Brothers who added to their position in Q2, and is a name that Gilead could pursue to become a player in cancer therapies.
XPO Logistics (XPO) spread sells 3,500 November $30 puts to open $1.60 to buy 3,500 November $40/$45 call spreads at $1.40, net credit trade, and XPO has seen 9,000 February $45/$55 call spreads accumulate in OI recently
Retrophin (RTRX) buyer of 5,000 December $30 calls to open $2.50, rolls out of long-held September $25 call position
August 26th, 2015
Solar City (SCTY) weak on lows and 2,000 October $35 puts bought to open $2.16 in a large sweep
Whiting Petro (WLL) weekly $15 calls bought 10,000X to open at $0.50 and 2,000 of the ITM $14 calls bought as well at $1.10 after 1,000 October $18 calls bought at $1.10 to $1.15 late yesterday, a name long exploring a sale.
McDonald’s (MCD) October $95/$100 call ratio spread trades 10,000X20,000 to open at $0.60 debit
Celanese (CE) opening buyer of 1,000 September $52.50 calls for $4.20, posted a strong quarter and raised FY view despite expected headwinds from FX and international markets
August 25th, 2015
Hartford Insurance (HIG) buyer of 2,000 September $48 calls this morning with buyers paying $0.98 to $1.01 offer and shares nearing the day’s highs. Takeover speculation in the name recently with Travelers (TRV) most mentioned as a buyer and a hot sector for M&A talk recently after ACE/CB deal. HIG has more than 35,000 September $50 calls in open interest, rolled out from August positions recently
Nike (NKE) with 1,500 October $95 puts sold to open $1.11 as traders take advantage of elevated premiums in quality names willing to own. Nike (NKE) also with 1,000 September 11th (W) $106 calls bought $3.25 to open
Kansas City Southern (KSU) opening buy 6,060 September 11th (W) $95 calls $2, closes out the $102 calls
August 24th, 2015
Dunkin’ (DNKN) with 1,500 September 52.50 calls bought at $0.75, shares held weekly cloud and long-term trend support this morning on the initial move lower
Constellation Brands (STZ) opening buyer 3,000 September $125 calls $2.10 with shares back to just -1%, up sharply off lows
Syngenta (SYT) trading 10X daily calls with 1,000 January 2016 $80/$90 call spreads bought at $4.50 to open, a Company that has been fending off Monsanto (MON) takeover attempt
IAC Interactive (IACI) trading 1,000 January ITM $60 calls for $11.90 to $12.70 early, bullish flow with shares nearing the highs of the morning
August 21st, 2015
Dish Network (DISH) December $65 calls being aggressively bought for the second day with more than 5,500 trading at $2.60 to $4 after 4,000 were opened yesterday.
ASML Holding (ASML) aggressive buyer of 2,000 September $90 calls to open $2.65 offer
Ulta Salons (ULTA) strategist sells 2,000 September $175 calls at $3.00 to buy the $160/150 put spread 3,500X for $3.70, the company will report earnings on 8/27
Monsanto (MON) buyer of 6,000 October $90 puts at $1.31 as September $100 puts are rolled out, shares breaking key $100 support this week
August 20th, 2015
Gogo Wireless (GOGO) unusual buys of 2,500 October 2nd (W) $18 calls after unusual call buying earlier this week
Taiwan Semi (TSM) buyer of 1,700 September $20 puts at $0.65 offer looking to fade this move higher today. TSM some sizeable blocks coming in now after initial sweep as more than 14,000 of those puts have traded up to $0.70. TSM now with 4,000 October $20 puts being bought as well
Acadia Healthcare (ACHC)September IV dropping sharply this morning with an opening sale of 2,850 of the $75 puts at $1.50 to $1.25 bid, willing buyer near the recent breakout area from May with shares in a strong trend higher
Viacom (VIAB) opening buys 2,500 March 2016 $45 calls at $2.30 to $2.35 as shares hit near new lows, many expecting M&A in the Media names
August 19th, 2015
Linked In (LNKD) relative strength today as shares reverse red to green and a big buyer of 1,200 January 2016 $220 calls paid $6.85 offer to open at the PHLX
Avago Tech (AVGO) opening buy 3,300 January 2016 $125 calls $10.80 offer at the PHLX, stock replacement into 8-26 earnings, one of the best reporting Semi’s the past few quarters
PayPal (PYPL) with bullish flow as 3,000 October $40 calls are bought at the $1 offer, shares back near August lows at $37, trading in a fairly narrow range since the spin-off, but overall growth remains strong in the online payments space
Yum! Brands (YUM) next week $86/$89 upside call spreads bought to open 3,000X this morning with some rolls out of the $84 calls, also buyers of 2,500 August $87 calls that expire this Friday, bullish flow continues in the name since it was recently hit with China
August 18th, 2015
XPO Logistics (XPO) strong to the day’s highs and a buyer of 3,000 February $45/55 call spreads here for $2.10 to open
Tyson (TSN) large buyers of 5,000 September $44 calls at $0.65 to $0.70 with over 5,000 already in OI, trading 2X daily calls, shares breaking above its IchiMoku Cloud today and looking to fill a large gap overhead
Cornerstone On-Demand (CSOD) has been a standout Tech name and 500 November $40/$35 bull risk reversals opened today at around a $0.60 debit
Pandora Media (P) opening buyer of 2,000 September 25th (W) $20 calls for $0.90 on the PHLX, shares been on a strong run since earnings and flagging here around the $19 level which was resistance in May
August 17th, 2015
Arista Networks (ANET) trading more than 2,000 September $75 puts at $1.60 to $1.45 with IV dropping sharply, indicator of opening sales and willing buyers near the recent breakout area. ANET a popular name with put sales in 2015 with sizeable January positions earlier in the year and May short puts as well; Institutional ownership rose more than 30% last quarter with a notable buy from Lone Pine Capital who added to their position
AbbVie (ABBV) now with 30,000 November $70 calls bought $2.90 to $2.95, look to be rolling back from November $75 calls. ABBV saw sizeable share additions from top holders last quarter as well, more than 94M shares net added including more than 15M from Glenview and 14M from Baker Bros
Under Armour (UA) opening action of 1,480 September 11th (W) $99 calls with shares trading above $100 and near new highs, traders paying around $3 for the calls
Wynn Resorts (WYNN) buyer of 1,695 January $85 puts at $6.30 to open on the CBOE, rolling down from the $100 strike which opened in late April and closes out at $14.05
August 14th, 2015
PerkinElmer (PKI) with unusual buys of 1,050 September $50 calls at $1.40 to $1.55. The $5.7B Healthcare Co. trades 17.53X Earnings, 2.55X Sales, and 2.68X Book. PKI shares back to May support and a name that would make a nice acquisition target.
Credicorp (BAP) a $9.86B Peruvian Bank with shares off 6.9% today, and broke key trend support at the $130 level last week. BAP is seeing buyers active for 1,350 September $110 puts today, as low as $0.85 this morning and paying as high as $4.50. Peru kept rates steady today, as expected.
Northrop Grumman (NOC) buyers active for 2,500 September $190 calls at $0.45 to $0.50 after 1,850 initially bought to open on 7-30, trading 6X daily calls with shares flagging since strong earnings. NOC saw year/year revenues fall in each of its four divisions in Q2
Limited Brands (LB) now with 4,500 September $80 puts bought $2.30 to open, rolls out of August $80.50 puts at $1.55
August 13th, 2015
Goodyear Tires (GT) strong price action lately and buyers here active for 4,000 January 2016 $33 calls at $2 to $2.10 offers, already more than 5K in OI
Splunk (SPLK) big opening buys of 2,000 August 28th (W) $68.50 calls targeting 8-27 earnings paying $4.10 to $4.20
Medicines Co (MDCO) buyer of 3,000 September $35 calls for $0.95, positive note from RBC Capital yesterday ahead of Phase 1 data due on 8/30. MDCO also now a buyer of 5,200 October $32 calls at $2.30, rolls out of October $27 calls
Starbucks (SBUX) finding buyers active in September $55 puts at $0.85 to $0.87 for 5,000 contracts, already 5,815 in OI
August 12th, 2015
NXP Semi (NXPI) large buyers of 3,000 October $90 puts at $5 to $5.40, bearish flow here continues from yesterday when 1000 bought
Medicine Co (MDCO) opening buy of 1,400 September $29 calls at $3.05, sizable OI in September $35 call OI ahead of upcoming event.
Estee Lauder (EL) has been a resilient stock but 5,000 August $87.50 puts bought to open here $1.70 ahead of 8-17 earnings
Solar City (SCTY) opening buyers of 4,000 August $46 calls into this weakness this morning as shares test March low support
CommVault Systems (CVLT) more put sales as 5,000 September $35 puts are sold to open at $0.65 to $0.60. CVLT trading over 10,000 of those puts sold to open now and has the 8,000+ August $35 short puts in OI as well as 4,000 September $32.5. Clearly there is someone willing to buy a lot of stock at $35, name has long been seen as a takeout target, so could be the work of an activist that could push it to sell itself
August 11th, 2015
Inovio Pharmaceuticals (INO) spread sells 1,250 January $6 puts to buy the $8/11 call spread for a $0.25 net debit. The company announced a partnership with MedImmune, the R&D segment of AstraZeneca (AZN), to develop and license INO-3112 for the treatment of cancers caused by HPV.
Google (GOOGL) strategist sold 1,500 October $650 puts at $13.50 to buy 1,600 of the $725/.$775 call spreads at $13.50, zero cost trade, stock replacement
Relypsa (RLYP) an ugly breakdown and 2,000 December $22.50 puts bought to open $2.85 to $3, trading 25X daily puts.
Caterpillar (CAT) massive buyer of 35,000 Aug. 28th (W) $78/$82 call spreads at $1.27 to $1.28
August 10th, 2015
Unum (UNM) unusual sweep of 1,100 September $36 calls at $0.90 at 6X daily calls with a lot of M&A in Insurance lately. UNM CEO retired in May, just had deal for SYA, seen as another likely target. UNM also announced a small acquisition this morning of National Dental Plan, a UK provider of dental insurance for $49.5M
Under Armour (UA) buyer of 1,000 October $110 calls at $1.25 offer, announced a marketing partnership with the NBA this morning
Strategic Hotels and Resorts (BEE) buyer of 5,000 December $15 calls bought for $0.45-0.50, reports they were exploring a sale on 7/23. BEE analyst comments after the Bloomberg report indicated that a sale could come as high as $17/share and would be attractive to a buyer based on the strength of their portfolio of rooms and hotels
Cisco (CSCO) trading more than 5,000 August $29.5/$27.5 bull risk reversals to open at zero cost ahead of 8-12 earnings, stock on highs
August 7th, 2015
BioCryst (BCRX) opening trade for 2,000 September/December $12 calendar call spreads at $1.75
Mallinckrodt (MNK) buyer of 1,000 September $105/90 bull risk reversals for $0.95 to open on the NYSE, shares hit on earnings earlier this week but hitting major oversold levels
JC Penney (JCP) buyer of 10,000 August $8.5 puts to open at $0.53 into earnings next week 8/14; shares have closed lower each of the last four reports. JCP buyer 4500 September $9 puts $1.10 offer in large sweep
Schlumberger (SLB) opening buyer 1,000 September 4th (W) $84.50 calls $1.57 to $1.60, stock basing for a couple weeks and Oil Services led strength yesterday
August 5th, 2015
Merck (MRK) bullish action again today with a block of 3,000 October $57.50 calls bought $2.36 at the PHLX and also 2,000 of the Oct. $60 calls bought at $1
American Air (AAL) shares jumping as 10,000 February 2016 $50 calls bought to open at $2.25 in a large sweep
Starwood Hotels (HOT) buyer of 20,265 September $80 calls $2.50, rolls back from November $85 calls, still awaiting strategic alternatives to play out
Dr. Pepper (DPS) buyers paying $5.50 to $5.70 for 1,000 February 2016 $80 ITM calls
August 4th, 2015
Hewlett Packard (HPQ) bullish flow into January 2016 $35 calls with nearly 5,000 bought at $0.73. HPQ has 30K Sep 32/28 bull risk reversals in OI, getting near the $28 level which would hold as support. Hewlett Packard (HPQ) buyer of 2,400 October $31/$35 call spreads at $0.82
Twitter (TWTR) with 5,000 January 2016 $31 puts sold to open $4.40, first sign of put sales, and potentially a bottom. TWTR more put sales with 5,000 December $29 puts sold to open $2.99 to $2.95
The Gap (GPS) opening buyer of 2,000 September $35 puts paying up to $1.00 offer ahead of earnings 8/20, follows recent trend of put buying in retail/apparel names the last week. GPS now with a 10,150 lot bought at $0.98.
Intel (INTC) September 11th (W) $29.5/$31/$32.5 call butterfly spread opens 12,500X25,000 at $0.25 debit. INTC buyer 2000 Oct 29 calls here $1.09
August 3rd, 2015
Twitter (TWTR) buyer of 1,500 December $31/$44 call spreads at $2.84
Starbucks (SBUX) opening buyer 4,000 September 11th (W) $57 puts $0.85
Autodesk (ADSK) IV dropping as over 15,000 September $47.50 puts being sold to open $0.75 to $0.70, reports on 8-27, and added to CSFB Focus List this morning
McDonald’s (MCD) 6,500 August $100/105 call spreads bought for $1.07
July 30th, 2015
Europe Hedged Fund (HEDJ) trade sells 7,800 Feb. 2016 $58 puts to buy the $64/$70 call spread. HEDJ also has over 70,000 Feb. 2016 $65 calls in OI from sizable buyer accumulation.
Parker Hannifin (PH) trading 1,500 August $115/$105 bull risk reversals to open at $1.30 debit ahead of 8-4 earnings. PH has closed lower 3 of the last 4 reports. Last quarter Aerospace was strong with 5% revenue growth while Industrials fell 1%. GD and TXT showed strength in Aerospace Systems unit, while NOC and LL weakness
New Link Genetics (NLNK) now with a buyer of 1,000 October $60 calls at $4.05 after 1,000 bought at $3.80 this morning, aggressive buys paying up on very wide bid-ask spreads
WhiteWave Foods (WWAV) buyer of 1,400 September $57.50 OTM calls at $0.60 offer, a name with sizable October bullish positioning and expected to be a takeover target
July 30th, 2015
VMware (VMW) IV ticking up here with nearly 2,500 September $90 OTM calls bought to open $1.70 to $1.73 in a sweep, shares consolidating the earnings move well
United Tech (UTX) opening buys 3,000 August 7th (W) $100 calls $1.18
Mondelez (MDLZ) buyer of 9,000 September $45 calls $1.35, closes 6,000 of the $42 calls $3.40
Michael Kors (KORS) opening buy 3,000 August 7th (W) $42 calls at $1.40, sizable ahead of 8-6 earnings, stock moving to day highs. KORS also with 3,000 August $41 calls bought now at $2.38
July 29th, 2015
Express Scripts (ESRX) shares on day lows following earnings, trading over 16,000 calls with 3,500 November $95 calls bought to open $4.05 the largest trade, rolling out Aug. $95 calls. ESRX is also seeing opening action of 3,000 September $92.50 calls at $3.35 to $3.45, smaller lots.
International Paper (IP) September $48 calls seeing opening action for 10,000 contracts into earnings weakness, a name with over 9,500 August $48 calls in OI and 5,000 Jan. 2016 $49 calls in OI, giving an opportunity into weakness.
First Solar (FSLR) buyers coming in for 5,000 August $45.50 calls at $2.23 to $2.26 in a large sweep, reports 8-4 and shares strong today. FSLR JPM out with a positive note this morning recommending buying the pullback here ahead of results. The firm expects FY guidance to be reinstated on the call.
Western Digital (WDC) buyer of 2,000 August $80.5/$87 call spreads at $1.35 into earnings after the close, sentiment very negative in the group but shares trying to base
July 28th, 2015
Live Nation (LYV) shares rallying off lows as 2,000 January 2016 $25 calls are bought to open $2.26 to $2.33, aggressive buys. LYV on 6/25 with a buyer of 3,500 January 2016 $30 calls $1.75
Southwestern Energy (SWN) strong reversal candle on earnings and jumping 4.5% on the day now, buyer of 3,500 August $19 calls yesterday and today August $20 calls hot with over 4,000 trading. SWN big block of those Aug. $20 calls trades $0.62, now over 10,000 trading
Synaptics (SYNA) steady rise in August IV this morning ahead of 7-30 earnings with 2,000 August $80 calls trading to open, buyers paying $4.30 to $4.50.
Zebra Technologies (ZBRA) buyer of 2,000 August $110 calls for $3.30-3.40, appears to be rolling back from 3,000 August $115 calls ahead of earnings 8/4
July 27th, 2015
GNC Holdings (GNC) IV moving to the highs of the day with an opening buyer of 1,500 September $45 calls for $1.30 with earnings 7/30
Treasury (TLT) September $122/$120 long strangles being put on for size, over 45,000 bought. TLT strategy comes ahead of a big FOMC Announcement with potential for more clarity on liftoff timing
Rackspace (RAX) opening buys of 5,000 August $33 puts $1.30 offer in a large sweep, earnings 8-10 and been struggling with larger competitors.
Suntrust (STI) opening buy of 1,000 October ITM $42 calls $2.81 to $3 on this mini pullback off the recent highs
July 24th, 2015
Eaton (ETN) with 2,000 September $60 calls bought to open $2.85 to $3.20, seeing a trend in call buying in beat up names today. ETN reports 7-29 and the $29.4B Co. now trading 12X Earnings, 1.32X Sales, and 1.94X Book with a 3.49% yield.
Electronic Arts (EA) buyers coming in for 5,000 next week $72 calls at $2.49 to $2.57 ahead of 7-30 earnings. EA shares have finally pulled back to near its rising 20 EMA and has been a stellar name, also seeing plenty of longer term call buyers. EA has closed higher on earnings 11 of the last 12 reports.
Torchmark (TMK)ï»¿ unusual buyer of 550 November $65 calls $1.05 to $1.20. The $7.6B Life/Health Insurance Co. trades 1.56X Book and 12.8X Earnings w/ 7.5%+ EPS growth and with Insurance names on M&A watch, another one to keep an eye on.
L Brands (LB) buyer of 3,000 August $83 puts for $1.80 to open as IV climbs to the highs of the morning. The company will report 8/13 so captures earnings. The $24.4B operator of Bath & Body and Victoria’s Secret trades 19.8X Earnings, 2.1X Sales and yields 2.39%. LB has traded modestly lower its last two reports. LB has seen comps slow recently and could be impacted by slower mall traffic, though Topeka Capital likes the name and has a $109 target. The chart does look vulnerable to a breakdown and return to $73.50, the 20 week EMA nearing a bearish cross of the 40 week, a sign of dying momentum.
Lear Corp (LEA) 1,100 December $105 calls trading for $5.10-5.20 following earnings this morning. The company topped estimates and raised core operating earnings outlook on stronger vehicle production assumptions in North America. China also showed a 2% production rise during the quarter.
July 23rd, 2015
Brazil (EWZ) with 20,000 June 2016 $28 puts bought $2.87 to $2.91
Exelon (EXC) shares trading weak today and an opening buyer of 5,000 August $33 puts paying $1.60-1.80 offer with IV rising sharply ahead of earnings 7/29 before the open
American Tower (AMT) with 875 August $95.50 calls bought $3.40, shares near a breakout and will report 7/29, lifted by a strong response to Crown Castle’s (CCI) earnings today. AMT with 1,000 August $99.50 calls bought now as well for $1.35
Dow Chemical (DOW) buyer of 7,900 December $50 calls $1.86 after earnings, and 15,000 of these bought to open late yesterday. DOW buyers came in at 10:30am for 3,500 August $49 calls near $1.30 as well, so plenty of buyers into todays weakness
July 22nd, 2015
United (UAL) large buyer 7,500 July 31st (W) $54 calls $3.40, similar to ITM buys in AAL and LUV for next week, report s7/23
Agilent Tech (A) large opening buy 5,000 November $40 calls at $2.45 at the PHLX, a name with a recent sizable bull covered risk reversal opened
Sprouts Farmers Markets (SFM)with an opening buyer of 5,000 September $25 puts for $1.25-1.30 offer with monthly IV rising sharply on 12X daily put volume. The company will report earnings 8/6 and closed lower the last two reports, down almost 10% last quarter.
IDEXX Labs (IDXX) front-month IV climbing with an opening buyer of 1,000 August $70 calls for 1.10 on the CBOE, unusual size at 8.5X daily call volume. IDXX was recently mentioned as a possible target for Zoetis as a way to boost their diagnostics business. The company will report 7/30 and closed lower the last two reports.
July 21st, 2015
ISIS Pharmaceuticals (ISIS) 1,000 January $65/45 bull risk reversals are bought on the morning for $1.35 on the ISE. The company initiated Phase 1/2a clinical trials for ISIS-HTTRx for the treatment of Huntington’s Disease recently and announced an agreement with Bayer to develop and commercialize ISIS-FXIRx. Needham has a $91 price target as the firm believes the Street is underpricing the potential for the company’s SMA data which showed meaningful improvements in patient function.
Cabela’s (CAB) trading 15X daily calls now with 2,500 August $50 calls bought to open $2.25 to $2.50, 30 day IV rising 7.8% today ahead of 7/23 earnings. CAB jumped strong last quarter on results and recent background check data bodes well for gun sales.
YPF SA (YPF) more call buying as 2,500 December $25 calls bought $2.80
Avago (AVGO) sale of 1,000 September $140/$125 strangles for $10.55
July 20th, 2015
Eli Lilly (LLY) July 31st (W) options with a large trade, appears 1,265 of the $90 calls closed at $1.50 to buy 1,500 of the $89/$94 call spreads at $1.55. LLY is trading $87.65, potential and the spread carries at 2:1 reward/risk. LLY is expected to announce pivotal Alzheimer’s data this week for solanezumab. MSCO raised its target on LLY to $93 last week.
Starwood Hotels (HOT) with 1,725 September $95 OTM calls bought to open at $0.96, still waiting to hear about its strategic alternatives decision, and talk last week in the Daily Mail of a potential $110 price tag from a deal with IHG
Royal Bank Canada (RY) buyer of 2,500 January 2016 $55 puts $1.95, troublesome group with Oil weakness, Canadian housing situation, and recent rate cut
Motorola Solutions (MSI) block of 1,000 October $57.50 calls bought for $3.55 on the PHLX, a name which has seen a lot of longer-dated call buying recently after failing to find a buyer earlier this year
July 16th, 2015
Cyber-Security ETF (HACK) with 5,000 December $33 calls bought to open at $1.50
ZS Pharma (ZSPH) with an unusual opening aggressive buy of 600 August $85 calls at $1.85 offer to open on a wide bid-ask with shares trading $62.60. The $1.55B Biotech is rated Buy with a $75 target at JPM, seen as one of the next potential deal names in the industry. ZS’ first product candidate, ZS-9, is being evaluated to treat hyperkalemia, an unmet need for therapies.
Borg Warner (BWA) coming strong off lows after 2,000 January 2016 $57.5/$47.5 bull risk reversals traded to open at a $0.60 credit. BWA shares are back to a level where support was found in late 2014 and will report earnings 7/30. The $11.7B auto parts Co. trades 13.4X Earnings, 1.43X Sales and 3.34X Book with a 1% yield. BWA announced a $1.2B deal for REMY earlier this week. Northcoast rates BWA a Buy with a $72 target.
Cummins (CMI) buyer of 1,000 July 31st (W) $129 puts $2.65 offer, reports 7/28 and could be read through from GE Engines. Volvo also noted a peak North American trucking market which could impact CMI
July 16th, 2015
Sorrento Therapeutics (SRNE) buyer of 1,000 September $17.50 calls for $3.45 on the ISE, recently formed a JV with NantBioScience
Facebook (FB) large spread today put on 10,000 August/September $100 calendar call spreads at $0.45 and sold 12,500 October $105 call at $0.71, net credit on the spread, reports on 7/29 and could be lucrative with shares up at $100 on August OpEx.
Qlik Tech (QLIK) buyer of 5,000 July 24th (W) $39 calls $1.55 to open, closes 2,350+ July $35 calls $3.45, earnings 7/23 so captures the event
Check Point Software (CHKP) buyer of 2,000 October $82.50 puts for $5.50 offer to open, reports 7/22 and recent bearish flow into the name; OTR Global downgraded shares this morning
Horizon Pharma (HZNP) buyer of 10,000 August $35 calls for $2.65 on the AMEX as 6,000 of the August $31 calls opened on 5/15 are closed for $5.00, reports on 8/6 and recently made an offer to buy Depomed (DEPO) for $3B in an all-cash deal. Another 10,000 are bought from July call rolls.
July 15th, 2015
Dril-Quip (DRQ) trading nearly 3X total put open interest as 1,500 August $70 puts are bought to open at $3.60 to $3.70 in aggressive buys. DRQ shares are weak on the chart breaking $70 this week and look set to fall below 2015 lows near $65. The $2.76B Co. trades 18.3X Earnings, 2.15X Book and 18.1X FCF with EPS peaking in 2014. DRQ actually crushed estimates in April with 10.7% Y/Y revenue growth. DRQ remains at the mercy of the weak deep-water drilling outlook.
Mead Johnson (MJN) hit today after cutting FY estimates last night below consensus but a buyer steps in here for 1,000 November $90 calls at $2.63-2.79 in a sweep, shares are well of their highs of the year but hitting an area that was major resistance in 2012 and 2013 and perhaps provides support. MJN weakness could attract Danone who long has been rumored to be interested in acquiring MJN
IPG Photonics (IPGP) buyer of 1,500 August $80 puts to open for $2.20 offer, reports 7/28, been a strong earnings performer recently but closed lower last report and trading weak since down almost 15%
Gilead (GILD) August 28th (W) $120/$125 call spread bought with the $113 puts sold to open 2000X, net $0.02 credit for the bull covered risk reversal
July 14th, 2015
YPF SA (YPF) big opening buy 5,000 December $25 calls $3.60 offer at the PHLX. YPF upgraded to Outperform at CSFB this morning.
McDonald’s (MCD) on day highs, broke above 98 resistance yesterday, and 10,000 July 24th (W) $100 calls trading to open $0.81 to $0.88 with buyers, earnings due out 7/23 looking for a key break above $100 resistance
Oil Exploration (XOP) large spread buys 10,000 December $47/$52 call spreads and sells the $39 puts to open, $0.23 debit on the bullish covered risk reversal as Oil held $50 and bounced today despite the Iran news
Pioneer Natural (PXD) with 1,500 July 24th (W) $138 calls bought to open at $2.75/$2.80, a name with a lot of recent bullish flow, ahead of 8/4 earnings. PXD was Einhorn’s short play at Ira Sohn.
July 13th, 2015
Corning (GLW) shares down to the lowest level since October 2014 with shares downgraded to Underperform at BAML this morning, but seeing ITM August $17 calls trading over 6,000 to open, traders looking for a relief rally, earnings 7/28. The $24.25B Co. now trades just 12X Earnings, 1.28X Book and 13.65X FCF with a 2.49% yield and over $5B in cash on hand.
Aetna (AET) 4,000 contract diagonal call spread sells the October $115 calls to open $5.25 and buys the January 2017 $125 calls to open $10.90
U.S. Steel (X) buyer of 5,000 July 24th (W) $19.50 calls for $0.97 to open, stock pops to the highs of the day; company won’t report until 7/28, after expiration, but we’ll get results from STLD on 7/20 after the close
AT&T (T) trade for 7,500 January 2016 $36/$31 bull risk reversals at $0.22, expecting deal for DTV to be approved soon. T sweep here of 5,000 Aug $33 calls for $2.15 to open, continued bullish flow ahead of expected approval of DTV deal
Medivation (MDVN) one of the weaker Biotech names the past few weeks, but just before 1pm a buyer came in for 1,000 September $125 calls, aggressive buys $2.08 to $2.17. Interesting the action comes ahead of the J&J (JNJ) report which has been losting market share to MDVN’s Xtandi in the prostate cancer drug space.
July 10th, 2015
Investment Tech Group (ITG) unusual buyer 1,000 October $30 calls $0.50 to $0.55 with shares coming out of a nice base. ITG one of the smaller brokers at $870M which may be attractive for M&A, trades just 12.5X Earnings and 2.14X Book with a strong cash holding.
Norwegian Cruise Liner (NCLH) consolidating nicely below the $57 level and seeing bullish flow with 1,400 August $60 calls bought at $0.70 to $0.75. The December $65 calls and $45 puts each traded 1,000X as well, looks to be a collar. NCLH trades 14.5X Earnings and 3.75X Sales, and coming off two impressive quarters of 31.4% and 41.3% revenue growth year/year. UBS raised its target to $62 on 5-22 noting synergies from the Prestige deal.
Workday (WDAY) buyer of 2,500 December $92.5/$115 call spreads at $3, already 5,000 in OI and recent speculation at The Information that Microsoft should buy them instead of CRM
ZIOPHARM (ZIOP) aggressive opening buy of 5,000 January 2016 $15 calls at $1.40
July 9th, 2015
Best Buy (BBY) bearish flow today with shares fading all morning, the September $36.49 puts with over 1,700 bought at $3.55 to $3.75, good amount of premium paid.
Car-Max (KMX) with 2,000 January 2017 $70 calls bought $8.50 to $8.80, sneaky action as shares try to base after pulling back recently on earnings. Goldman raised shares to Buy yesterday with a $78 target, noting a strong used car cycle and a powerful unit growth story. The $13.7B auto dealer is trading 19.1X Earnings, 0.94X Sales and 4.18X Book.
Air Products (APD) trading 1,000 Aug $140/130 bull risk reversals to open today for around $0.50 credit on the CBOE, shares have traded weak for most of the year but a willing buyer of shares here in a big volume area from 2014; Pershing Square remains the largest holder of stock with over 20.5M shares held, their 2nd largest position; the company will report 7/30
CIGNA (CI) spread sells 1,250 October $140 puts to buy 1,250 October $165/$180 call spreads. CIGNA (CI) spread sells 2,500 August $145 puts to buy 2,500 August $165/$185 call spreads, continue to see bullish covered risk reversals with reports today that a deal with Anthem is near
July 8th, 2015
Cable Vision (CVC) with a buyer of 3,000 December $27 calls aggressively at the PHLX, paying $1.40 offer. CVC has seen a lot of bullish flow with M&A expected here including over 8,500 Jan. 2016 $30 calls in OI from size buys.
Rockwell (ROK) a name that has been holding up real well, but trading 3X daily puts here with IV jumping as 1,500 August $120 puts are bought to open $3.90 to $4.20, earnings due out 7/29
Raptor Pharma (RPTP) opening buy 3,500 August $14 calls $1.20 at the PHLX, stock ripping higher
Rio Tinto (RIO) call buy sweeps for 3,000 July $37.50 calls $1.35 offer
July 7th, 2015
Corning (GLW) ugly price-action continues and trading active options as 8,000 September $20 puts are bought to open $1.26 to $1.28
MasTec (MTZ) moving off lows as more than 2,000 January 2016 $17 calls are bought to open $3.90, sizable trades. Stephens recently started MTZ Overweight with a $23 target.
Quidel (QDEL) unusually large put sale, the September $22.50 put ssold to open 4,850X at $1.10 with shares trading $22.50, showing confidence at this level. The $785M maker of diagnostic testing solutions also has 23.5% of its float short.
Textron (TXT) bearish flow with 2,500 August $44 puts bought today $1.91, noted yesterday morning a negative read-through from Rolls Royce comments on business jets
July 6th, 2015
NxStage Medical (NXTM) with a buyer of 2,500 Sep $12.50 calls for $2.20 on the ISE, unusual size for the name and already with a buyer of 5,500 Sep $17.50 calls on 5/11 still in OI
Aetna (AET) with 3,000 January $130 calls bought to open for $4.34-4.81, rolling out from 3,000 July $125 calls after Humana deal announced Friday morning
Avago (AVGO) spread sells 1,000 Aug $125 puts for $2.28 to buy the $140/145 call spread for $2.07 on the ISE, a $0.21 credit for the bullish spread in a name which has seen a lot of call buying after the Broadcom deal and a willing buyer here of shares near the rising 100-day EMA
Finisar (FNSR) opening buyers 1,500 September $19 calls $0.90 offer into recent post-earnings weakness
July 1st, 2015
Sinclair Broadcasting (SBGI) spread sells 5,000 January 2016 $25 puts at $1.15 to buy 5,000 of the $29/$34 call spreads at $1.52.
Qualcomm (QCOM) bearish action with 5,000 August $60 puts bought to open today $1.12 to $1.14. QCOM shares continue to trade ugly with weak underlying business and constant buybacks unable to appease investors, while recent comments make it unlikely that a spin-off will take place, a move that could have created value for shareholders. Drexel Hamilton cut QCOM to Sell on 6-29 with a $55 target noting intensifying competition from Intel and Samsung.
Las Vegas Sands (LVS) July $57 calls hot with 6,500 trading to open $0.48 to $0.50, casino stocks gaining today with China reducing Macau restrictions and climbing earlier this week on the Land and Buildings letter to MGM’s Board.
Maxim (MXIM) bearish action as 1,850 August $35 puts are bought $2.10 offer to open and then a block of 4,150 trades $2.15.
June 18th, 2015
Synergy Pharma (SGYP) with 1,500 January 2016 $15 calls bought to open $0.60 offers, strong positive notes out of sell-side with Canaccord a $19 target this morning, next catalyst may be partnership
CBS trades 5,000 Dec. $65/52.50 bull risk reversals for $0.22 credit on the ISE, shares have been noticeably weak lately but bounced at the earnings gap from February and $57.50 level where 5K short puts are in OI from a bull risk reversal on 5/7 so at a notable area of interest
Nike (NKE) trader adjusting position ahead of 6/25 earnings, closes 3,385 July $100 calls $6.80 and buys 2,500 July $105 calls $3.40.
Tyco International (TYC) buyer of 5,000 July $42 calls for $0.42 on the NYSE as more than 14,000 June $41 calls are closed out at $0.04, shares have been forming a big base since falling on earnings w/ big gap above over $41; earlier this month the company was noted as a potential target for Nelson Peltz’s Trian Fund
June 17th, 2015
Johnson and Johnson (JNJ) was seeing bearish flow earlier this morning into January 2016 $90 puts and now the big block takes volume above 10,000 contracts, buyers paying $2.27 to $2.32 for $2.5M put premium bought today, a name that has struggled and a move below $97 would be a big breakdown out of a multi-month topping pattern.
Anheuser Busch (BUD) buyer of 1,000 December $130/$145 call spreads at $2.85
Hilton (HLT) bullish flow continues with 3,000 October $29 calls bought near $1.25 after 2,000 July $29 calls earlier, CSFB positive the name this morning
Juno Therapeutics (JUNO) buyer of 1,000 July $55 puts at $4 offer at CBOE to open
June 16th, 2015
SanDisk (SNDK) large opening buys of 5,000 June $64.50 calls $0.85 to $0.90. On 6-5 CLSA note mentioned that MU, SK Hynix, Seagate, or Western Digital could be interested in acquiring SanDisk
Hilton (HLT) large 5,000 contract bull covered risk reversal in October as the $26 puts are sold to open $0.70 and the $29/$32 call spread bought at $0.89, continues a trend of bullish flow in this name that has not been able to move off recent weakness
Williams Co. (WMB) put in a big reversal candle yesterday and today 25,000 November $49 calls trade to open $2.02, also 1,300 July $48 calls being bought $1.03.
Expedia (EXPE) bearish flow with opening action of 1,000 October $100 puts at $4.85 to $4.90
June 15th, 2015
Nimble Storage (NMBL) July $30 calls being bought 3,000X $1.17 to $1.30, appears some June $30 calls rolling out as well, a name mentioned by two firms last week as a highly sought after M&A target that could catch a nice premium
Oracle (ORCL) 10K June 26th (W) $45 calls trading to open $0.42 to $0.44 ahead of 6/17 earnings. Oracle (ORCL) large pre-earnings spread buys 11,500 July 24th (W) $44.5/$47 call spreads and sells the $42 puts to open, net credit of $0.01. ORCL over 5,000 July $44 calls bought in a sweep from $1.20-1.26 offer
Wal-Mart (WMT) 5,000 January 2017 $80/60 bull risk reversals bought for $0.60 debit on the PHLX, continuing to see lots of longer-term bullish accumulating and had Ackman speculation last week
Juniper (JNPR) bearish action as 3,000 July 2nd (W) $27 puts bought at $0.74 to open, the potential for an acquisition by ERIC seems to have had cold water thrown on it with this morning’s report
June 11th, 2015
Decker Outdoors (DECK) buyer of 3,100 Sep. $77.50/87.50 call spreads for $2.35, strong reversal after reporting and sets up for a big breakout over $75.50; Susquehanna out positive on 5/29 as they like the risk reward for shares and like the potential for additional buybacks
HR Block (HRB) trades 5,000 January 2016 $31/$29 bull risk reversals to open at $0.40 debit at the CBOE, a name with a lot of sizable bullish upside plays in recent weeks
Facebook (FB) shares jumping after 4,000 August $82.50 calls bought to open $3.45 to $3.55 offers
United Tech (UTX) bullish action continues ahead of its Sikorsky plans, yesterday June calls actively bought, earlier today July $120 calls with 1,500 bought, and now 2,500 November $125/$100 bull risk reversals trading to open at $0.85 debits.
June 11th, 2015
United Tech (UTX) seeing sweeps in June $118 calls this afternoon with more than 3,000 now accumulating, shares forming a nice base above $116. UTX is exploring options for its Sikorsky unit, either a spin-off, combination with Textron (TXT), or outright sale. The unit is valued around $10B and expected to see news by next week.
Gogo (GOGO) bull sticking with the name, bought 2,150 November $20 calls at $3.70, sizable position, rolled from June $20 calls, a name with a strong consolidation pattern after a strong uptrend that came with elevated volume accumulation.
Sun-Coke Energy (SXC) with 2,400 July $15 calls bought today $1.20 to $1.50, trading more than 10X daily calls with 30 day IV up 30%. On 6-1 Goldman started shares Buy with a $19 target. SXC recently promised capital allocation initiatives, a potential catalyst for shares.
Mobileye (MBLY) buyers of 1,500 December $60 OTM calls to open today at $1.63 to $1.78, being rolled from June $48 calls
June 10th, 2015
Analog Devices (ADI) buyer 750 Sep. $65 calls for $4.40 offer, note from Craig-Hallum yesterday that the company is a possible suitor for Atmel (ATML) after the company hired Qatalyst to explore strategic alternatives. ADI seeing more action with 2,500 of these now bought to open.
Horizon Pharmaceuticals (HZNP) buyer of 5,000 July $32 calls for $1.50 as it appears 5,000 of the June $30 calls are closed out at $1.40
Avago (AVGO) sweep of 2,000 July $145 calls bought for $3.70, shares set up very well technically after pulling back to recent breakout and rising 20-day EMA after announcing Broadcom deal
Deere (DE) with a buyer of 2,885 September $97.50 OTM calls at $1.48, rolls out of June $92.50 calls, a name that has held up very well and after a key breakout, pulled back to the 20 day EMA and prior resistance to form a base, now setting up for another push higher.
June 9th, 2015
Owens Illinois (OI) with more than 1,500 July $25 calls bought at $0.50 offers, 2nd day this week with 1,500 bought. OI shares have been putting in higher lows since a March sell-off. The $3.9B Co. is very cheap at 9.45X Earnings and 0.6X Sales. BAML upgraded shares on 5-18 to Neutral with a $28 target noting the proposed acquisition of Vitro for $2.15B. First Pacific bought 1.835M shares in Q1 and is the 3rd largest holder in the name.
Alexion Pharma (ALXN) June IV rising since 11:20am with buyers of 2,000 June $165 calls to open $1.42 to $1.60, shares reversing off support today and climbing.
Bit-Auto (BITA) one of the few Chinese names yet to make a strong rally sees a buyer of 5,900 July $65/$75 call spreads to open $1.70 at the PHLX, also has notable short OI in July $50 and $45 puts
Skyworks (SWKS) buyers 2K June $101 calls here $1.55 offer into weakness
June 8th, 2015
Pier 1 (PIR) with 4,500 June $12 calls bought $0.70 and 6,000 June $13 calls bought $0.30 to $0.35, a name highlighted by BB&T as a takeover target for William Sonoma (WSM) recently
Sohu.com (SOHU) buyer of 1,000 July $72.50 calls for $2.55, one of the nicer technical setups among the China names that were hot on Friday
E-House (EJ) unusual opening buys 2,800 July $6 calls $0.60 and then volume jumps above 10,000 with sizable buys
AbbVie (ABBV) buyer 2,500 July $70 calls $1 offer in large sweep continuing hot Friday action. AbbVie (ABBV) buyer of 8,000 Jan. 2016 $70 calls $3.80 offer at the PHLX after sizable buys of these contracts Friday
June 5th, 2015
Restoration Hardware (RH) buyers of 5,000 June $95/$100 call spreads at $1.30 ahead of earnings next week, shares been in a narrow range but remain in an uptrend, and above $93 can run back above $100
Arris (ARRS) buyer of 1,000 Aug. $35 calls for $1.40, shares popped in April on the Pace acquisition and have been basing well since pulling back a bit, sizeable buyer in the Nov. calls on 5/23 still in OI as well
Capital One (COF) with 1,000 July $82.50 calls bought $3.30 to $3.45 to open, strong flag forming above its recent key long term resistance breakout. Capital One (COF) buyer 2,500 September $90 calls to go with July $82.5 action earlier
Monsanto (MON) spread sells 2,700 January 2017 $90 puts for $4.60 to buy 1,440 of the $125 calls for $8.15 on the PHLX, bullish spread after various media reports last night and this morning that MON is working to ease Syngenta’s fears of regulatory issues surrounding their potential deal and that suitors such as BASF, FMC, and others could be buyers of assets if divested
June 4th, 2015
Air-Gas (ARG) large opening buy 2,500 October $105 calls $4.10 in a sweep. ARG would make a nice acquisition target for APD or PX.
FMC Tech (FTI) buyers active for 3,000 June $43 calls today $0.75 to $0.90, 30 day IV up 6.7% with shares rallying off the lows today, a name thought of as a potential target following the HAL/BHI deal.
Cavium Networks (CAVM) hot today and 1,000 September $85 calls are bought to open $2.85, large play in a name seen as a potential takeover target
Avalanche Bio (AAVL) buyer 1,500 July $40/$60 call spreads at $6.80, closes 1,000 June $45 calls $2.40
June 3rd, 2015
PTC Therapeutics (PTCT) sizeable buyer of 1,000 Dec. $70 calls for $12.40-12.70 offer, Phase 3 data for Ataluren due later this year and Cowen upgraded shares in mid-April to Outperform with a $120 target
TJX Co. (TJX) bullish action with an opening sale 6,000 July $65 puts $1.40, also 3,500 October $65 calls bought $3.70 to $3.75
Avago Tech (AVGO) with 2,000 July $145 calls bought to open $5.30 to $5.40, shares have pulled back a bit since its deal for Broadcom (BRCM)
Microsoft (MSFT) opening buy 5,000 June 2016 $50 calls $3.05 to $3.10, look rolled from Jan. 2016
June 2nd, 2015
Barrick Gold (ABX) October $12 calls hot with 7,500 bought at $1.11 offer. ABX now 25,000 October $12 calls as block of 16,000 bought $1.14
TeraData (TDC) a beaten up Tech name drawing bullish action with 1,500+ October $42.5/$35 bull risk reversals opening at $0.35 debits
Horizon Pharma (HZNP) bullish spread for 5,000 contracts sold the January 2016 $25 puts to open at $2.50 and bought the $35/$40 call spread at $1.85, net credit for the covered bull risk reversal
Concho Resources (CXO) an Oil name not far off 2015 highs and the September $130/$140/$150 butterfly call spread trades 5,000X10,000 at the PHLX for a $1.90 debit, looking for shares to move higher.
June 1st, 2015
Aetna (AET) 580 July $120 calls trading $3.45-3.85 offer, July IV climbing higher and one of the names mentioned last week as a possible buyer for Humana (HUM). Aetna (AET) also now with 1,200 Jan. 2016 $130 calls bought $4.25 to $4.40, seeing benefits of a HUM deal
Anadarko Petro (APC) large bullish butterfly spread, January 2016 $90/$110/$130 5,000X10,000, net debit of $2.89
Con-Way (CNW) bearish flow as 4,500 June $40 puts are bought $1.20 offer, IV jumping, truckers a very weak group technically
Dow Chemical (DOW) buyer of 1,000 Dec. $52.50 calls for $2.52, Nomura and Goldman Sachs both out long-term bullish on the name recently
May 29th, 2015
Precision Castparts (PCP) shares pulled back off channel down resistance above $220, but a name with a lot of call accumulation in recent weeks and now a big buyer steps in for 5,000 September $250 calls at $1.70. PCP was notable in Q1 filings with Soroban Capital, Berkshire Hathaway, Value-Act, and Third Point LLC all buyers.
Eaton (ETN) with 1,000 July $72.50 calls bought $1.50 to $1.55 and Tyco (TYC) July $40 calls bought 1,000X at $1.39, both names mentioned by RBC this morning as potential activist target for Peltz’s Trian Fund
Heron Therapeutics (HRTX) up big on positive Phase 3 results and a trader buys 5,000 September $17.50 calls $2.57, closing June $15 calls $2.22
Primerica (PRI) buyer of 2,000 December $40 puts $1.825, trade is 3X total put open interest, very unusual, and chart breaking down
May 28th, 2015
Isis Pharma (ISIS) hot action with 1,225 June $69.50 calls bought $1.55 offer in a large sweep and then 2,000 June $70 calls $1.45/$1/50, and also has 3,000 June $65/$55 bull risk reversals in OI. ISIS shares are flagging nicely and looking to clear $67.50. Needham raised its target on ISIS to $88 on 5-5.
Blackhawk Network (HAWK) large opening sale of 2,000 September $35 puts at $2.50 bid into today’s weakness
H&R Block (HRB) buyer of 10,000 October $34 calls $1.18 to open, sells 12,500 of the July $34 calls, earnings on 6/8. HRB Bank sale expected to close 6/30
NCR Corp (NCR) spread sells 1,500 Oct. $26 puts to buy 3,000 Oct. $35 calls for 0.70; the company announced in late-April that it was exploring strategic options including a spinoff or sale. Both Marcato and Jana are involved here as two of the top three holders of stock.
May 27th, 2015
Pfizer (PFE) highs of the day and 5,000 Aug. $34 calls bought for $1.18, lots of talk recently that the co is looking or a mega-deal with either GSK or SHPG possible targets, both of which would likely be cheered by the market
TJX Co. (TJX) opening buyer 1,000 October $67.50 calls $2.58 to $2.60 into recent weakness with retail, still in strong longer term uptrend
Rockwell Collins (COL) buyer of 1,000 October $100 calls $2.75 offer to open, stock replacement. COL has been one of the more steady performers, strong uptrend remains in place.
T-Mobile (TMUS) large spread sells 10,000 July $40 puts to open $2.55 and buys 10,000 Jan. 2017 $45 calls $2.50
May 26th, 2015
Yelp (YELP) spreads selling June 5th (W) $45 puts to buy September $43 puts 2,000X, net debits just under $3 for the spreads. It would not surprise anyone if YELP is not successful in its exploring a sale process considering its weak earnings reports.
Ocwen Financial (OCN) trading 5,000 Jan. 2016 $11/$9 bull risk reversals to open today at $0.25 debit, a name that has been very volatile, so a notable leveraged spread being put on today
Salesforce.com (CRM) trades 2,000 Jan. 2016 $85/$60 bull risk reversals to open $0.65 debit, confirmed last week that Microsoft (MSFT) had real interest in a deal, and bullish trades continue to accumulate in CRM
Monsanto (MON) buyer of 3,000 June 5th (W) $120 calls to open, some reports over the weekend of them ready to raise Syngenta (SYT) bid
May 22nd, 2015
Lions-Gate (LGF) with 6,500 July $35 calls bought to open $0.60 to $0.70 as bullish action continues in this name, strong today, and a recent JANA Partners add that may look to merge it with Starz
Palo Alto Networks (PANW) buyer of 1,000 July $175 calls for $3.10 offer, reports 5/27. Palo Alto Networks (PANW) buyer of 3,550 July $165 calls $6.50, closing out June $155 calls $10.40, follows the 1,000 July $175 calls bought this morning
Shire (SHPG) with 2,400 OTM July $300 calls bought today $0.40 to $0.50, one of the companies noted in the Bloomberg Pfizer (PFE) mega-deal report
Pioneer Natural (PXD) with 4,500 May 29th (W) $150 puts bought to open this morning $0.70 to $0.80, a recent Ackman short target. Shares are basing above $150, so on alert for a break of support next week
Fire-Eye (FEYE) with 3,725 September $45 calls bought at $4.60 offer in a large sweep, bullish action continues with shares breaking out, positive comments from Hewlett Packard from its recent alliance, and FEYE also has received takeover interest but wants to hit $1B revenues first, which is double current sales.
May 21st, 2015
Hilton (HLT) buyer of 5,000 Oct $29 calls for $2.15, big trade as bullish positioning continues to accumulate in a name with a lot of event potential
Citrix (CTXS) buyer of 3,000 Sep. $65 calls for $4.40, noted as a recent breakup play with their online services subsidiary potentially for sale
Rite Aid (RAD) with an opening trade for 100,000 July $9 calls at the PHLX $0.25 to $0.30 and a big rise in IV, deals in the space this morning with CVS and OCR putting this group in focus. RAD also forming a great looking chart with higher lows and higher highs.
Oasis Petro (OAS) with 2,000 August $18 calls bought to open $1.40 to $1.45 this morning, a $2.23B Co. in the Williston Basin and the recent ROSE deal could lead to more
May 20th, 2015
Nike (NKE) bullish flow early with 2,500 July $105 calls bought $3.10 offer in sweeps for $780K call premium, continuing late bullish flow July 100 and 105 calls from yesterday
Cable Vision (CVC) buyer of 1,000 December $22 calls $2.50, rolls out of June $21 calls 2,000X
Trip Advisor (TRIP) shares weak to start the week but now moving up after 2,650 July $87.50 far OTM calls were bought to open at $0.85, also trading 500 of the $82.50 calls at $2.35/$2.40. The $11.57B travel Co. trades 27.9X Earnings, 8.7X Sales and 40.6X FCF.
Cypress Semi (CY) stock replacement puts on 3,000 September $15/$12 bull risk reversals for $0.10. CY buyers 2,000 ITM July $12 calls $1.90 offer as well now
May 19th, 2015
UPS with 7,000 May 29th (W) $103 calls bought to open near $0.55 after the 2,000 weekly $102 calls bought $0.61
DSW Corp (DSW) buyer of 1,000 July $35 calls at $2.20 to $2.25 after 3,000 July $35 puts were sold to open $1.60 to $1.70 yesterday
PACCAR (PCAR)ï»¿ buyers active for 1,200 November $65 calls today at $3.80 to $4. PCAR shares are consolidating its strong earnings move, and formerly was rumored as a potential buyout target for Volkswagen. The $23.4B maker of trucks and parts trades 13.9X Earnings, 1.2X Sales and 3.47X Book with a 1.34% yield.
May 18th, 2015
Dish Network (DISH) June $70/$66 bull risk reversal opened 2,500X at $0.45 debit
Perrigo (PRGO) another 2,500 June $200/$230 call spreads bought with the $180 puts sold, same trade as last week
YUM Brands (YUM) with 2,000 October $97.50 calls bought $4.10 into weakness, a name a lot of big time funds bought into during Q1 for potential spin-off catalyst
Prudential (PRU) buyer 2,500 July $90 calls $1.05 to $1.10, interest rate plays starting to show strength again
Oneok Partners (OKS) with 2,500 October $45 calls bought to open $2.25 to $2.30, interesting action considering recent KMP/KMI and WMB/WPZ deals, so OKE/OKS may be next
May 15th, 2015
Mercado-Libre (MELI) with 500 September $165 calls bought $4.60 to $4.90, over $225K purchase for a name with strong momentum, recently breaking out on earnings
Vertex Pharma (VRTX) large trade today with the October $135/$110 bull risk reversal 500X at $3.72 debit at the ISE.
Cameron (CAM) on the high dollar contract scan as 1,450 November $55 calls bought today $3.50 in a large sweep
DuPont (DD) buyer of 1,000 October $70 calls at $3.35 in a large sweep, bullish position with shares stabilizing after selling off earlier this week with the DuPont board winning versus Trian Partners. CLSA upgraded to Outperform on 5-13
May 14th, 2015
First Solar (FSLR) opening sale 7,350 June $60 puts $4.40, rolls out of May $60 short puts
Retail (XRT) shares hanging onto 20 week EMA support, but an interesting large trade today, the June 26th (W) $96/$82/$88 put butterfly spread 10,000X20,000 at $0.55 debit
Vodafone (VOD) with 3,000 July $36 calls bought $1.67, rolled from May $34, and a similar trade yesterday with 3,000 bought at $1.50. VOD has been on a strong run, and formerly was involved in a lot of takeover talk, so bulls are sticking with this one.
Altria (MO) buyer of 1,000 Jan. 2017 $70 calls at $0.73 with shares trading $51.66
May 13th, 2015
Broadcom (BRCM) sizable buys 2,500 August $48 calls $1.84 offer as bullish flow remains hot here. BRCM lots of action as 6,000 June $50 calls bought $0.40 in large lots and a block of 5,000 Aug. $50 calls trades $1.16 to open
Qualcomm (QCOM) size buyer of October $70 calls $3.15 offer in early action, more than 8,000 contracts
Precision Castparts (PCP) bullish action after reporting earnings and a $2B buyback, buyers of 2,500 September OTM $250 calls at $1.50 that look to be adding to prior buys in OI, and also 2,750 June $220 calls opening $1.85 to $2.10.
White Wave Foods (WWAV) with 5,000 July $50 calls bought $0.90 to $1, shares holding up well since gapping up on earnings last week, and just below a new high, considered a highly likely buyout target.
May 12th, 2015
Wal-Mart (WMT) big buyer 3,000 May 22nd (W) $79 calls at $1.07 to $1.10 captures 5-19 earnings
Disney (DIS) spikes off lows as 1,000 June 26th (W) $108 calls bought $2.65 offer
Target (TGT) block of 5,000 May 22nd (W) $81 calls bought to open $1.32, reports a week from tomorrow
Raptor (RPTP) far OTM Nov. $20 calls bought 2,000X to open $1.10 offer in large sweep
May 11th, 2015
Cardtronics (CATM) spread sells 1,000 December $30 puts to buy 1,000 September $45 calls at $0.25,and on 4-30 the September $45/$30 bull risk reversal opened 1,500X at $0.60. CATM shares are coiled tightly below $40 for a big breakout move back to 2014 resistance at $44. The $1.72B provider of consumer financial services via ATM’s trades 12.15X Earnings, 1.58X Sales and 21.5XX FCF and grew EPS 57% in 2014. CATM also has more than 20% of tis float short. CATM will present at the Jefferies Tech Conf. on 5-12.
Monsanto (MON) buyer of 10,500 May 29th (W) $123 calls $1.10, looks to be closing 5,000 of the $125 calls, still looking to acquire Syngenta (SYT) and appears likely to raise its offer
Seagate Tech (STX) bearish flow with 6,000 June $55 puts bought to open at $0.99 to $1.17, IV jumping, one of the weaker charts forming a small bear flag now, and really hurt by PC market weakness
Voya Financial (VOYA) buyer 3,600 June $45 calls, rolls from May $44 calls, a trader that has been rolling this position for months now, and VOYA up near new highs
May 8th, 2015
Nvidia (NVDA) one of the weaker names today following earnings, off 7.5%, but back to the support from March. A trader stepped in this afternoon for 2,500 September $20 calls to open $1.70. A challenging PC market and FX headwinds were to blame, but NVDA continues to be shareholder friendly, raising the dividend and expanding its buyback again.
Akamai (AKAM) large buyer of 1,000 November $77.50 calls at $5.75, $575K position, a name that continues to act great technically and seeing plenty of upside call buying daily.
Web-MD (WBMD) buyer of 2,000 September $50 calls at $2.15 offer in a large sweep. WBMD posted strong results on Wednesday including strong unique user numbers and page view to their Health Network, both up 21% YOY
Salesforce.com (CRM) large spread sold 3,800 July $62.50 puts $1.40 and bought 2,850 May 29th (W) $80 calls $2.10. CRM down today after a Reuters report that MSFT is not interested, but the mystery buyer remains out there, and options flow has been bullish looking for this deal to actually happen.
May 7th, 2015
Wal-Mart (WMT) bullish longer dated flow continues as 5,000 Jan. 2016 $87.50 calls are bought $1.21/$1.22 offer
US Steel (X) June $23 puts with 5,000 bought to open $1.30 to $1.36, bearish action, a break of $23 would ruin the uptrend, and could see weakness if the USD reverts
Praxair (PX) buyer of 1,000X June $120 calls for $2.65
Blackstone (BX) with 17,500 September $39/$30 put spreads being bought to open
May 6th, 2015
Bluebird (BLUE) IV spiked around 12:45pm when 1,200 May $145 calls traded $3.70 to $4.30 to open, aggressive buys
Axiall (AXLL) shares down 9% on earnings but buyers coming in for 4,000 June $40 calls on weakness at $1. Activists Soroban and Shapiro largest holders of AXLL, the former added 3.5M shares in Q4. AXLL would make a nice target for an activist, the Building Products segment is much stronger than the larger Cholorvinyls and Aromatics segments.
Coca Cola Enterprise (CCE) another bullish trade as 2,000 November $47 calls buy $2.40 to open and 3,000 November $41 puts sell to open $1.75
Mondelez (MDLZ) with more than 1,500 June $38 calls bought at $1.10 offer in large sweep and nearly 2,000 of these added to OI yesterday as well. MDLZ also saw large May $39 call buys last week and displaying a parabolic skew structure, often seen as an ideal takeover target with Peltz’s Trian Fund a top holder.
May 5th, 2015
Jack in the Box (JACK) bullish action with 1,300 May $90 calls being bought $2.05 to $2.15 and half as many May $85 puts being sold to open at $1.30 to $1.39
Agilent (A) spread sells 1,000X June $40 puts to buy the $42.50/45 call spread for a small credit, reports 5/18 and closed higher the last three reports
Atwood (ATW) buyer of 4,000 June $35 calls $2.05, closes out June $32.50 calls 2,000X and also buys 2,000 June $40 calls $0.45, one of the many offshore Energy plays breaking out today
Wells Fargo (WFC) spreads buying May $55 calls and selling July $60 calls 10,000X
May 4th, 2015
Cable-Vision (CVC) with 5,000 September $20 calls bought to open at $1.50 to $1.60, trading 7X daily calls with shares now breaking out after earnings and IV rising after falling this morning on results. CVC posted 2.5% revenue growth but subscribers did fall, but will be the first to offer HBO-Now. With Comcast failing to secure Time Warner Cable (TWC), more consolidation is expected, and CVC a likely target, reflected in the bullish IV Skew.
Union Pacific (UNP) with 3,500 June $115 calls bought $0.78 to $0.84, a name that has seen August and November call buying with shares basing at long term trend support, and could see CSX pitched today as a consolidation target that may boost the group
Express Scripts (ESRX) buyers for 2,000+ August $95 calls at $1.50 offer in a large sweep, continuing hot bullish flow from Thursday morning
Anadarko Petro (APC) spread into earnings bought 5,000 June $100/$110 call spreads at $1.29 and sold June $87.50 puts to open 5,000X at $1.74
April 29th, 2015
Credit Suisse (CS) large bullish flow moving in after shares dipped back to the 50 day MA, September $26 calls with 7,500 bought to open here at $1.58 to $1.75
Anheuser Busch (BUD) large trade buys 5,000 June $130 calls at $1.10 offer and 5,000 September $140 calls at $1.40 to open, aggressive purchase with calls trading 6X daily
Perrigo (PRGO) trades 1,000 Jan. 2016 $190/$175 bull risk reversals to open at $5.50 debit, long term view seeing PRGO upside with or without the Mylan (MYL) deal
Guess (GES) with 5,000 June $18 calls bought to open at $1.05 to $1.15, trading 5X daily calls as IV30 jumps nearly 15%, earnings in late May and shares testing recent $18 support today before this bounce. GES may see some relief from the US Dollar fall.
April 28th, 2015
Comcast (CMCSA) with a buyer of 3,000 October $60 calls $3.15 yesterday and 3,000 June $60 calls today $1.47, also seeing 10,000 June $62.50 calls bought at $0.69 to open, earnings 5/4, but also may be seeing CMCSA as a candidate to go for a new M&A deal after TWC fell apart.
Electronic Arts (EA) opening buyer 5,000 June $65 calls $1.04 and 1,500 June $70 calls $0.41, recently an opening buy of 5,000 June $60 calls remains in OI.
Burlington Stores (BURL) buyer of 1,500X June $55 calls for $1.45/1.50, IV30 up 6.4%. Shares have been in a strong up-trend and finally pulled back to 100EMA support today, reports 5/17
Carter’s (CRI) buyer of 1,000X May $95 calls for $2.05/2.10, earnings tomorrow before the open, closed higher two of the last three reports
April 27th, 2015
Callaway Golf (ELY) November $10 calls being bought 1,000X at $0.99 with the November $9 puts sold 2,000X at $0.42, bullish risk reversals
HR Block (HRB) with 4,000 July $35 calls bought to open $0.55 offer, a name with more than 9,500 May $33 calls in OI, shares attempting to come out of a base
Mylan (MYL) trades 2,500 June $77.5/$65 bull risk reversals $1.75 debit with shares off 3.5% following a rejection of TEVA’s bid
Joy Global (JOY) jumping with the other commodity related names as 2,000 May $42 and $42.50 calls each buy offer at $0.94 and $0.72 respectively
April 24th, 2015
American Air (AAL) on highs after earnings and big buy of 5,000 August $57.50 calls at $2.32 to open at the PHLX. American Air (AAL) with 10,000 of next week deep ITM $49 calls bought to open $4.30, massive trade
Mattel (MAT) with a buyer of 5,000 Jan. 2017 $35 calls at $1.60, rolls out of $25 and $28 calls after this big post-earnings run, also upgraded to Buy at Goldman this morning
Regal Entertainment (RGC) unusual opening buys of 1,500 Oct. $25 calls $0.48 to $0.65, trading 25X daily calls, earnings 4/30. The $3.48B CO. trades 17.7X Earnings, 1.17X Sales and yields 3.95%, also some recent M&A moves in this industry.
Teva Pharma (TEVA) traded 3,000 Sep. $65/$60 bull risk reversals to open at $0.48 debit
April 23rd, 2015
Energy Transfer (ETP) large opening buyers 4,500 May $55 calls $1.10 offer in a sweep. ETP spread sells 2250X June $52.50 puts for $1.45 to buy the $55/60 call spread 2000X at $1.55
MGM Resorts (MGM) buyer of 2,400 June $22 calls paying $1.01-1.03, buying the dip after soft China numbers from Las Vegas Sands (LVS) last night; reports 4/29
Vitamin Shoppe (VSI) opening buy of 2,500 November $50 calls at $2.25, earnings early May, but moved yesterday on a Carlson Capital increased stake in a 13D filing. It has long been discussed the advantages of a GNC/VSI merger, possibly something they push.
Bed Bath & Beyond (BBBY) buyer of 1,000 May $72 puts for $1.20, after trading down on earnings and lowering FY EPS guidance
April 22nd, 2015
Lennar (LEN) IV rising all morning, shares re-tested the prior breakout and 20 week EMA on Monday near $48 and looking to bounce, the June $50 calls with 4,500 trading to open, traders began buying at $1.30 and paying all the way up to $1.60.
US Steel (X) buyers of 5,000 May $26 calls at $1.30 to $1.35, earnings on 4/28, and Steel names showing up lately on relative strength scans
Dick’s Sporting Goods (DKS) Jan. 2016 $60/$52.5 bull risk reversal trades 2,400X at $0.17 debit, looks to be adding to the 4,500 recently opened
CSX Corp (CSX) spread buys the May $36/$39 call spread 7,900X and sells the $33 puts, more bullish action with May $37/$42 call spreads hot this morning 3,000+
April 21st, 2015
Teva Pharma (TEVA) strategy is positive on the $40B bid for Mylan (MYL), sells 5,000 Jan. 2016 $57.50 puts to open at $3 to buy 5,000 Jan. 2016 $65/$75 call spreads at $3.60, net $0.60 debit for the covered bull risk reversal.
Steel Dynamics (STLS) responding positively to earnings and 6,000 June $23 calls buy at $0.50 with 3,000 June $20 puts sold at $0.45 in a bull risk reversal ratio spread
Jet Blue (JBLU) hot action as 9,000 May $19 calls are bought $1.15 offer aggressively to open, it reports on 4/28, but have AAL reporting this week
SYSCO (SYY) on the move here with 7,750 May $39 calls bought $0.40 to $0.50. SYY U.S. district judge will consider a preliminary injunction to block U.S. Foods merger during court hearings May 5-8
April 20th, 2015
Time Warner (TWX) buyer of 1,000 July $92.50 calls at $0.66, and TWX 4/15 Buyer 5,000 Jan. $105 Calls $0.75 also, been rumored as possible CBS target or even Liberty Media or Apple could be interested. TWX July $92.50 calls now jumped as 22,560 bought at $0.70 to open. TWX also mentioned as a potential break-up candidate by CSFB on 11/24, business segments are Turner ($10.35B in revenues), HBO ($5.3B) and Warner Bros. ($12.5B)
Axalta (AXTA) traders adding to October $35 calls with 2,400 bought today, a name that rose on a recent 8.7% stake taken by Berkshire Hathaway
Alibaba (BABA) big buyer 5,000 May 29th (W) $80 calls $4.75 to open, earnings 5/6, big ITM trade for $2.375M. BABA also with 3,000 May 29th (W) $81 calls bought to open now
SanDisk (SNDK) large opening buy 4,500 May $68.50 calls at $1.12 offer in a large sweep, also 2,250 May $70 calls at $0.69, a name down sharply on earnings, but was floated as a potential target for Western Digital (WDC). SNDK now trades 11.45X Earnings, 1.5X Sales and 15X FCF.
April 17th, 2015
Johnson Controls (JCI) buyer of 7,000 July $55 calls $0.65 to $0.70, and comes a day after 7,500 May $52.50 calls were bought to open in hot action.
Baker Hughes (BHI) buyer of 1,000 October $65 calls $5.975, merging with Halliburton, sizable purchase
Heron Therapeutics (HRTX) buyer 8,000 June $15/$22.50 call spreads, closes 4,000 April $12.50 calls. HRTX original April call spreads started w/ stock back near $11, so fairly smart money based on past performance and now looking for a much higher move
Dish Network (DISH) opening buys 2,500 June $70 calls at $3.20 to $3.30
April 16th, 2015
Horizon Pharma (HZNP) opening buy of 10,000 May $31/$35 call spreads at $1.20, digesting its secondary offering well and been a real hot name growing through acquisitions. HZNP has been mentioned for months with hot upside options positioning, and no signs of this name slowing down. HZNP also with 1,000+ November $38 calls buying to open at $2.80, above the offer.
ON Semi (ON) buyer of 3,000 May $11 calls to open $1.40, reports 5/4, 6X daily call volume. ON has been very strong since November 2014 with shares nearly doubling, strong accumulation and now rising after a 20 week EMA base.
Whitewave Foods (WWAV), a when, not if takeover target, trade sells 2,500 Jan. 2016 $35 puts to buy the $47.5/$55 call spread 2,500X
Illumina (ILMN), a top tier growth name that has been consolidating for 6 months, sees a buyer of 1,425 May $195 calls $6.40 at the ISE, a $912K position, earnings on 4/21.
April 15th, 2015
Precision Castparts (PCP) lower today after another guidance cut, but unusual opening buys of 2,500 September $250 calls at $1.55 with shares trading $208.70. The $30.6B Aerospace supplier trades 15.4X Earnings, 3.05X Sales, and 23.5X FCF, and there are a few large acquisition focused companies like Honeywell and United Tech in this industry.
Twitter (TWTR) opening buyer 1,000 May 1 (W) $51.50 calls $2.98 offer, 4/28 Earnings
Garmin (GRMN) May $50 calls bought 1,750X to open today $0.75 to $0.86, earnings 4/29, a value/yield name but seeing a lot of weakness in its business segments, possibly ripe for activism, recently a big reversal candle put in.
Time Warner (TWX) buyer 5,000 Jan. 2016 $105 OTM calls $0.75, been M&A talk here
April 14th, 2015
Halliburton (HAL) buyer 5,000 April 24th (W) $46.50 calls $0.77 for 4/20 earnings, looks to be rolling back May $48 call position closing $0.67
S&P 500 (SPX) large Index trade buys 9,625 September 2300 calls at $3. Another trade rolled 5,000 Jan. 2016 2350 calls to 9,650 Jan. 2016 2,400 calls bought at $4
Melco Crown (MPEL) large opening buy of 10,000 Jan. 2016 $27.66 calls $1.60 offer
Home Depot (HD) May $115/$120 call ratio spread trades 5,000X10,000 at $1.08 debit
April 13th, 2015
Alibaba (BABA) buyers of 15,000 May 22nd (W) $90/$95 call spreads for $1, earnings expected around 5/6, one of the Chinese internet names yet to catch a rise
Discovery (DISCA) with 1,000 Jan. 2017 $35/$30 bull risk reversals opened for a $1.60 debit, and still has the 5,000 July $35/$40 call spreads in OI, one of the many names considered a target in Media.
Brunswick (BC) opening buy 1,500 May $55 calls at $0.60, a name that would make a great break-up candidate. BC trades 15X Earnings, 1.25X Sales and 4.2X Book with a 0.96% yield and will next report earnings 4/30. Stifel started coverage at Buy with a $60 target in late March, noting the sum of the parts with Boats, Marine Engines, and Fitness. BC beat on earnings last quarter with 13.5% revenue growth, and have seen encouraging signs in boats to start 2015.
Fidelity National (FNF) large opening buy 2,500 July $36 calls $2.45 at the PHLX, a name with sizable Jan. 2016 $45/$30 bull risk reversals in OI (20,000X)
April 10th, 2015
Digital Realty (DLR) buyer of 5,000 May $65 calls $2.05 to $2.10, trading 12X daily calls, a REIT that has been quiet, but one of the more interesting ones playing the Data Center boom. The $8.87B Co. trades 48X Earnings and 3.13X Book with a 5.2% yield. Deutsche Bank rates it a Buy with a $74 target.
Altera (ALTR) buyer of 10,000 April $47/$55 call spreads at $1 and 5,000 May $47/$55 call spreads at $2 as many feel Intel or someone else still acquires it
BioMarin Pharma (BMRN) interesting trade in Jan. 2016 with the $120/$150/$180 butterfly call spread 500X1000 opening, targeting a $150 price-tag, likely a buyout
Cisco (CSCO) IV ramping higher with shares moving out of a nice base and clearing the downtrend form the highs, trading 33,000 calls the first 90 minutes with 70% offer side, large buys in May $28 and $29 calls with 10,000 of each trading, and on 4-7 noted a large buyer 8,500 May $27 calls at $1.07 to open.
April 9th, 2015
Yum! Brands (YUM) buyer of 3,300 May 1st (W) $79 calls to open $2.06, bullish action continues, earnings 4/21
Mylan (MYL) spread sells 5,000 July $62.50 puts and buys the $72.5/$80 call spread, net debit $0.80 for the bull covered risk reversal
Flamel Tech (FLML) interesting action with 2,000 June $20/$15 bull risk reversals opening, generally a good signal in these illiquid names when a trader puts on a leveraged spread
Express Scripts (ESRX) Jan. 2016 $90/$105 call spread buys 1,500X, $82.50 puts sold to open, net credit of $0.05
April 8th, 2015
Bio-Marin (BMRN) up to 1,000 May $130 calls bought $6.10 to $6.60 in a high dollar value sweep, more than $1.1M call premium bought, always seen as a top M&A target remaining.
Diamond Offshore (DO) buyer of 6,300 May $27.5/$22.5 put spreads at $1.09, closes out of April $30 puts
Best Buy (BBY) large bearish action as 3,870 June $40.49 puts are bought to open at $3.70 offers, more than $600K put premium bought
Gilead (GILD) with plenty of bullish action this morning, earlier the 2,500 weekly $99.50 calls bought $1 offer and May $105 calls active with 10,000 trading $1.75
April 7th, 2015
Array Bio (ARRY) spread sells 2,000 September $5 puts and buys the September $8/$11 call ratio spread 2,000X4,000 as bullish spreads continue to pile up in this one. The trade here was done at a $0.20 credit.
Chevron (CVX) OTM May $115 calls with 6,500 bought today $0.31 to $0.36, and on 3-25 the May $110 calls were bought 7,500X near $1. CVX is nearing a break above its 20 week EMA and out of a long downtrend if shares can clear $109.
Cisco (CSCO) shares appear to be basing and a large opening buy of 6,000 May $27 calls today at $1.07 at the ISE. CSCO needs to clear $28 to make a move back towards $30.
Zulily (ZU) with a buyer of 1,000 May $14 calls at $1.45 and 1,000 May $15 calls at $1, opening action at 2X daily calls, a stock that was crushed on earnings in February but IV Skew now showing a bullish bias and seeing clear stock accumulation off the $13 level. The $1.7B online retailer trades 32.85X Earnings, 1.42X Sales and 27.3X FCF. OpCo started ZU at Outperform with a $17 target on 4-1. ZU is shifting its business model to reduce shipping times and recently partnered with Facebook for a personalized messenger service.
April 6th, 2015
SanDisk (SNDK) shares higher this morning after sell-side notes indicating potential for a buyout from Western Digital (WDC), this after a recent earnings warning. SNDK May $67.50 calls traded a block of 2,000 to open at $2.70 and also 4,000 May $72.50 calls at $1.20.
White-Wave (WWAV) buyer 2,000 October $47.5/$55 call spreads at $2.20, adjusting from July call spreads
Europe (VGK) big buyer 10,000 May $57 calls to open $0.75 to $0.80
Thoratec (THOR) trader buys 1,000 October $43/$55 call spreads at $3.65, closes 1,000 July $35 calls
April 2nd, 2015
Pfizer (PFE) large trade as 12,500 June $36/$31 bull risk reversals are opened at $0.15 debit
Tesla (TSLA) bullish flow this morning with 2,500 May $210 calls bought to open $6.10 to $6.30 range, a lot of call premium being bought as shares try to base and some positive notes out on orders turning around
Bristol Myers (BMY) opening buyer 3,000 April 10th (W) $65 calls $0.25 offer
Atmel (ATML) trading 2,200 August $9/$6 bull risk reversals to open at $0.50 debits, bullish positioning continues in this name
April 1st, 2015
Ubiquiti Networks (UBNT) trading 6X daily puts as 3,000 May $30 puts are bought to open at $2.90 to $3.30. UBNT shares peaked in early 2014 and have been weak technically, now may look to move back to the $25 level. The $2.6B networking products Co. looks cheap on the surface at 12.7X Earnings, 4.27X Sales and 27X FCF but is seeing a major deceleration in growth and also has 35% of its float short, back near a new high for short interest. Goldman rates UBNT a Sell with a $28 target. Institutional ownership in UBNT fell 4% in Q4.
InvenSense (INVN) trading nearly 12,000 puts as 7,060 May $15 puts are bought at $1.55 and 4,500 June $15 puts at $1.90.
CSX Corp (CSX) buyers of 5,000 April $34 calls here $0.42 to $0.51 sending IV higher
Rio Tinto (RIO) buyer of 2,850 May $40 puts $1.45 offer to open
March 31st, 2015
Owens Corning (OC) opening buyer of 7,000 May $43 calls at $2.20 offer, closes out 5,000 May $40 calls $4.13 and 2,000 May $41 calls $.30. OC has been strong with the housing data positive and a Barclays upgrade on 3-20 put a $48 target on shares saying its the best asphalt shingle market set-up into the Spring in years.
Pandora (P) been consolidating a mid-March volume driven spike and today 3,500 April $16 calls close $0.75, but 3,500 June $19 calls are bought at $0.80.
InvenSense (INVN) on lows after 5,000 May $15 puts were bought to open at $1.25 to $1.35
Bed Bath and Beyond (BBBY) forming a weekly bull flag and 2,000 April $77 calls are bought to open at $2.64 to $2.70, bulllish positioning for 4/8 earnings
March 30th, 2015
JP Morgan (JPM) buyer of 65,000 June $60 calls today $2.72 to $2.80, rolling out of April $60 calls, and Barron’s with a bullish piece out on JPM over the weekend
EMC Corp (EMC) attracting some bullish positioning today, a 2,000 contract spread sold the October $24 puts to buy the $26/$28 call spread and another spread put on 1,500 of the Jan. 2017 $27/$23 bull risk reversals
Tyson Foods (TSN) trading 4X daily puts in early trading with 2,250 May $39 puts bought $2.10 offer and 3,000 of the May $37 puts at $1.10. TSN now with a spread that buys 7,000 July $36 puts $1.40 and sells 5,000 Jan. 2016 $30 puts $0.90.
Lumber Liquidators (LL) off lows as 3,000 April 10th (W) $31/$36 call spreads are bought to open $2.15, could set up another bounce move
March 26th, 2015
Wal-Mart (WMT) opening buyer of 4,000 April 2nd (W) $81 calls $0.67, targeting that 4/1 Investor/Analyst Day
Seagate Tech (STX) opening buyer 4,000 April 10th (W) $53 puts at $1.20, rolling out of some of next week $55 puts
Valeant (VRX) buyer of over 5,000 April $210 calls $1.80 where OI has accumulated to 15,000+, expecting them to make another large deal
Prudential (PRU) buyers of 5,000 May $85 calls at $1 to $1.17, coming off lows now and these same calls were opened 5,000X earlier this week, so building accumulation
March 25th, 2015
Titan International (TWI) opening buys of 4,500 October $7.50 puts at $0.50 to $0.55, trading more than 50X daily puts. TWI shares are nearing a 5 year low and has been a perpetual earnings warning name. TWI trades 2.4X cash but has a leveraged balance sheet and 13.5% of its float short.
ASML Corp (ASML) IV ticking up as 2,000 May $110 puts are bought to open at $5.40 to $5.75, trading 3X daily puts with Semiconductors especially weak today, another name with bearish activity today.
Zoetis (ZTS) now with 4,000 April $48 calls bought the last few minutes at $0.75 to $0.90, steep move higher in IV after Valeant (VRX) made comments regarding planned acquisitions, and ZTS being one of those when, not if, takeover plays
Arrow Electronics (ARW) buyer of 3,075 May $62.50 puts $2.75, aggressive buy and nearly 100X daily put average, another Tech related play seeing large put buying and a spike in IV.
March 24th, 2015
Dot Hill Systems (HILL) with unusual opening buys of 950 June $5 calls at $0.65 to $0.75 and shares forming a great monthly bull flag pattern. The $315M maker of hardware and software storage systems trades 12.77X Earnings and 1.46X Sales and 20%+ EPS growth. HILL posted 14% Y/Y growth in revenues last quarter.
Tupperware (TUP) bearish action trading 12X daily puts with 1,000 May $65 puts bought at $1.10 to $1.20 and 3,000 May $70 puts at $2.50, early preparation for 4/22 earnings.
Teva Pharma (TEVA) hot lately with expectations of a large M&A deal coming and September $65 calls are bought 7,000X at $2.74, likely adding to the over 8,000 in OI
Array Bio (ARRY) large buyer of 5,000 September $8 calls to open at $1.70 to $1.95, and a name with large June bull risk reversals in open interest
March 23rd, 2015
BioMarin (BMRN) spread sold 1,200 July $145 calls to buy 1,200 July $110/$90 put spreads, likely collaring a stock holding after the big run in shares. Incyte (INCY) with a similar spread as 1,300 September $110 calls were sold to buy 1,300 September $85/$75 put spreads.
Jazz Pharma (JAZZ) unusual buyer of 1,000 April $175 puts to open at $3 at the ISE. JAZZ recently halted a Phase 2 trial of its leukemia drug.
Men’s Wearhouse (MW) opening trade for 3,000 April $55/$52.50 bull risk reversals at a net $0.10 credit as bullish flow continues after the earnings move
eBay (EBAY) buyer of 3,000 June $62.50 calls $1.17 to $1.18 to open
March 20th, 2015
Sinclair Broadcasting (SBGI) bullish action late yesterday and shares broke out of a range that targets a run to $35. A spread today buys 7,000 September $31 calls $2.70 and sells 10,000 of the September $38/$26 strangles at $1.75
Yum! Brands (YUM) opening buyers 2,700 March 27th (W) $79 calls $1.19 offer in a sweep and seeing big buyer sin April $80 calls for 2,000X and April $82.50 calls for 5,500X, a name already with large bullish OI.
ZIOPHARM (ZIOP) buyer of 10,000 April $16 calls $1.50, closes large March $11 call position $2.65
Vix Futures (UVXY) buyer of 120,000 Jan. 2017 $9 puts today $4.80 to $5.10
March 19th, 2015
Ruckus (RKUS) opening buy of 2,500 May $12.50 calls at $1 at the PHLX, and more than 7,000 August $15 calls remain in OI, setting up for a potential breakout move
Zillow (Z) large trade buys 3,000 Jan. 2016 $150 calls $8.20 offer at the PHLX, and original buys of these in mid-February jump started shares, likely to add to OI
Horizon Pharma (HZNP) buyer of 2,500 April $24 calls at $1 and 5,000 May $23 calls at $2.425, adjusting out of March $21 calls
ZIOPHARM (ZIOP) opening buy of 4,000 April $17 calls at $1.05, closes out March $13 calls
Incyte (INCY) with a buyer of 750 June $110 calls at $3.50 to open, aggressive far OTM opening buy, continue to see speculative upside bets, potentially the next Biotech to be acquired for a hefty premium.
March 18th, 2015
Game Stop (GME) July $40 puts active with buyers today as 3,000 trade at $4.50 to $4.90 offers, over $1.7M put premium bought, and already 5,000 in OI from large buys, a name set to report on 3/26
Target (TGT) with buyers coming in for 5,000 April $80/$75 put spreads at $1.33, looking to fade some of this recent strength
Yahoo (YHOO) a couple weeks of basing above $42 and today a 10,000 contract bull covered risk reversal trades, the July $45/$50 call spread bought at $1.46 and the $40 puts sold to open $1.34 to $1.41, small net debits on these spreads
Qlik Tech (QLIK) opening buyer 2,000 May $34 calls $1.05 offer and has sizable bullish OI in May and August
March 17th, 2015
Facebook (FB) big buyer 3,500 Mar. 27th (W) $79.50 calls $1.06
Exxon Mobil (XOM) buyer of 3,000 Jan. 2016 $90/$100 call spreads at $2.10 and Chevron (CVX) with a similar trade as 3,000 Jan. 2016 $110/$125 call spreads are bought at $3.05. Conoco (COP) with a buyer of 2,000 Jan. 2016 $70/$77.5 call spreads at $1.25. It appears some traders expect these names to start to recover with Oil at a 6 year low.
Nvidia (NVDA) buyer of 5,000 March $22.50 calls at $0.52 to $0.54 with its Investor Day today. NVDA also buyer 2,000 April 2nd (W) $22 calls here $1.22 offer
Bristol Myers (BMY) with some large bullish trades as 3,000 June $67.50 calls bought to open at $2.75, rolled from March $67.5, and also 3,500 June $70/$62.50 bull risk reversals were opened at a $0.48 net debit. BMY has been on a stellar run lately and traders see more gains ahead.
eBay (EBAY) trading 3,200 October $62.5/$70 call spreads bought with the $52.50 puts being sold to open. More size came into these spreads with 8,700 trading now.
March 16th, 2015
Linn Energy (LINE) looks to be in trouble again as Crude Oil makes new lows and 5,000 July $11 puts are bought to open at $2.23.
Splunk (SPLK) opening buyer of 2,000 March $62 puts at $1.45, bearish action
IBM bullish flow with over 3,500 April $155 calls bought $3.60 to $4 offers
Applied Material (AMAT) interesting spread buys July $25/$30 ratio call spreads 2,300X4,600 and sells the $21 puts 2,300X
March 13th, 2015
ADT Corp (ADT) buyer 1,250 July $38 calls at $1.70 and 1,900 May $40 calls $1.25, name been seeing a lot of unusual call buys including 20,000 April $43 calls, rumors Google may make a move into home security market.
Western Digital (WDC) buyer of 3,000 April $92.5/$82.5 put spreads at $1.70
CIT Group (CIT) buyer of 2,500 October $43 puts at $2.26 and 2,500 October $41 puts at $1.63, trading 10X daily puts, bearish large put buys
High Yield (HYG) June 88/82 put spreads bought 10,000X
March 12th, 2015
Lexmark (LXK) heading lower with PC weakness comments from Intel this morning and trading 10X daily puts as 4,000 April $38 puts are bought $1.30 to $1.35, more than $500K put premium purchased
Alibaba (BABA) large buyers of 5,000 October $90 calls $5.70 offer, more than $2.7M call premium bought the first 40 minutes, shares may finally be bottoming.
Core Labs (CLB) buyer of 1,500 June $100/$90 put spreads at $3.10, a vulnerable looking chart
Pepsi (PEP) buyers of 2,500 March 27th (W) $95 calls to open $1.28 to $1.44
March 11th, 2015
Bank of NY (BK) more bullish action as 5,000 March 27th (W) $40 calls are bought to open at $0.64, a name that Marcato Capital called for the removal of the CEO earlier this week. Nelson Peltz is also involved here and has been pushing for a spin-off of the Asset Mgmt. business.
Zebra Tech (ZBRA) buyer of 1,000 March $90 calls $1.75 to open, reports on 3/17 and was also reported as a potential Honeywell target. ZBRA also has a buyer of 3,000 May $95 calls in OI.
Barnes and Noble (BKS) opening bull risk reversal 2,500X, October $25/$20 at $0.60 debit
March 10th, 2015
Philip Morris (PM) broke support today after a large roll to June puts yesterday and now 8,000 April $75 puts are bought to open $0.67 to $0.69, bearish action continues
IMAX Corp (IMAX) now with 5,000 June $36 calls bought to open at $1, shares jumping, and a name already stacked with sizable upside open interest.
Papa John’s (PZZA) unusual opening buyer of 1,500 October $55 puts at $2.85, nearly 10X average daily put volume.
Sohu.com (SOHU) jumping with other Chinese internet names as 2,000 April $50 calls are bought to open $2.90 to $3
American Express (AXP) opening buyer 10,000 March 27th (W) $80 calls at $1.11, and targets the 3-25 Investor Day catalyst
March 9th, 2015
Theravance (THRX) trading 6X daily calls with 1,500 March $20 calls bought $1.10 offer in a sweep, a name up from the $11 level when noted massive June $9 opening put sales
Philip Morris (PM) roll of 2,500 March $82.50 puts to June $80 puts that are bought $2.98, a name nearing a break of $80 that can target a fall to $75, especially vulnerable as a 5% yield name if the interest rate raise outlook speeds up
Biogen (BIIB) bullish action with 840 March 27th (W) $430 calls bought to open at $9.30t o $10, sizable trades.
MetLife (MET), one of the interest rate playbook names that popped Friday, seeing 6,500 June $57.50 calls bought to open today at $0.55. MET has some sizable bullish positioning in OI already as well.
March 6th, 2015
Qualcomm (QCOM) buyers in next week calls and also 5,000 May $77.50 OTM calls bought to open at $0.79 offer in a large multi-exchange sweep. QCOM spread bought 6,700 March 13th (W) $73 calls and sold 6,700 March $66 puts, also buyers active now for March 13th (W) $72 calls 3,000X
eBay (EBAY) buyer 2,000 March 27th (W) $61 calls to open $0.80. EBAY also a buyer of 7,500 April 24th (W) $62.50 calls to open $1.38, hot action today with the 5,000 March $62.50 calls bought at $0.25 as well.
Finisar (FNSR) opening buys of 8,350 April $23 calls at $0.65 to $0.75 with shares already up 8.85% on earnings, and a name where I have been expecting a transaction with JDSU
Santander Consumer USA (SC) with a massive spread today that sold 20,000 October $19 puts to open $1.20 and bought 20,000 of the October $23/$28 call spreads to open at $1.85, bullish covered risk reversal.
United Technologies (UTX) on day lows and seeing bearish action as 4,500 April $115 puts are bought to open at $1.23, trading 2X daily puts
March 5th, 2015
eBay (EBAY) opening buyer 1,000 October $62.50 calls at $2.90. EBAY buyer 3,000 May $60 calls $2, rolls out of April $57.50 calls.
RSP Permian (RSPP) trading 25X daily options as spread sells 2,000 June $25 puts to buy 2,000 June $30/$35 call spreads
Sea Drill (SDRL) buyers of 10,000 Jan. 2016 $8 puts at $1.40 to $1.50 with shares trading $10.80, looking for further weakness for the offshore name that is likely to slash its dividend.
ZIOPHARM (ZIOP) buyer 4,000 April $14 calls at $2.40, rolls up April $8 calls sold at $6.05
March 4th, 2015
Hewlett Packard (HPQ) trying to stabilize after its earnings sell-off and a trade today sells 2,000 August $31 puts to open $1.31, and buys 2,000 August $35/$39 call spreads at $1.30, nice structure for a trader willing to be long HPQ at $31.
Applied Materials (AMAT) buyer of 5,000 July $24 calls $2.16, looks to be rolling back the $25 calls. Applied Materials (AMAT) buyer of 10,000 July $26/$31 call spreads at $1.02
SanDisk (SNDK) action staying bullish after early weekly call buying, now April $92.50 far OTM calls being bought in size to open with 6,250X trading.
Home Depot (HD) buyer of 2,000 May $120 calls $1.30 offer with shares consolidating and nearly filling its earnings gap, remains in a powerful bull trend
March 3rd, 2015
JD.com (JD) buyer of 3,000 April $31 calls $1.07 to $1.10 to open. JD also with 3,000 April $30 calls bought to open here $1.30, buyers on the morning dip off its highs
US Steel (X) opening buys of 5,000 April $23 puts $1.31 to $1.34 in early trading, bearish positioning continues with shares ready to roll back down to low after more bearish Analyst comments regarding the Steel sector this morning
American Air (AAL) opening buy of 3,500 April $49 calls $2.815 as shares base along its 20 week EMA
Yum! Brands (YUM) buyer of 1,000 July $80 calls $4.50 offer steps in with shares down 1.8% following a downgrade
March 2nd, 2015
CST Brands (CST) buyer of 3,500 June $43/$46 call spreads at $0.69 debit, looks to close 1,000 June $44 calls that tried to buy the dip last week, but trading 40X daily calls here.
Treasury (TLT) weekly 127.5/125/122.5 put fly’s are trading 2,600X5,200 at $0.52
Actavis (ACT) large opening buy of 2,500 weekly $302.50 calls are $1.25 offer, aggressive purchase on wide bid-ask, and comes ahead of the Mylan (MYL) report this week, could see a lot more M&A in this generic drugs group, also expecting more bidders to emerge for Salix (SLXP)
Qualcomm (QCOM) buyer 20,840 April $80 calls $0.13, been activist talk here. Qualcomm (QCOM) buyer of 5,000 March $74 calls $0.68 offer after 5K bought late Friday
February 27th, 2015
Meritage Homes (MTH) opening buys for 2,000 April $45 calls $1.95 offer, trading 7X daily calls. MTH an interesting one as 675 April $47.5 far OTM calls trade as well as some June $50’s and has the large March $40 position of 16,000 contracts in OI. The $1.7B homebuilder trades 10.6X Earnings, 0.7X Sales and 1.53X Book, a cheap name and if there were to be some homebuilder M&A, a potential target. Institutional ownership in MTH rose 3.34% in Q4.
Hewlett Packard (HPQ) attracting bullish call buying for next week’s options with 3,000 of the $34 calls bought near $1.06 and 10,000 of the $35 calls bought at $0.26 to $0.35, sizable opening trades, and shares fighting back today up 2.4%. It was rumored HPQ may make an offer for Aruba (ARUN) as soon as next week
Europe Equity ETF (VGK) with nearly 15,000 Jan. 2016 $60 calls bought to open today $1.10 to $1.20. European stocks are looking cheaper to American counterparts and in early stages of stimulus with economic data turning around. Even Buffett is focusing more on European stocks according to recent reports. VGK’s largest holdings include Nestle, Novartis, Roche, HSBC, Bayer AG, BP PLC, Sanofi, GlaxoSmithKline, and Royal Dutch Shell.
Yum! Brands (YUM) buyer of 2,000 October $90 far OTM calls $1.50, also some weekly $79.50 call buying. YUM also with a buyer of 2,000 July $85 calls. YUM 5K March $80.50 calls being bought, opening, massive action here today now trading 31,000 calls, 6X average
February 25th, 2015
Catamaran (CTRX) trades 3,500 April $55/$50 bull risk reversals to open at a $0.35 debit, reports tomorrow before the open. CTRX shares have closed 12.5% higher 2 of the last 3 quarters and shares have been moving sideways for a few weeks with next major overhead resistance $57.50. The $11B Co. trades 20.45X Earnings, 2.13X Book and 22.7X FCF with 15%+ EPS growth, and could attract M&A interest. JP Morgan rated shares a Buy with a $56 target in early January.
Praxair (PX) unusual opening buyer of 2,500 July $140 calls at $1.08 to $1.10 and on 2-20 a buyer of 3,500 April $135 calls near $1.80, so a trend developing. PX shares have basically been moving sideways the last few months and the $37.4B Co. trades 18.3X Earnings and 3.05X Sales with a 2.23% dividend yield. A potential PX upside catalyst would be if it makes an acquisition, which many industry peers have been doing.
Consumer Discretionary (XLY) buyer of 20,000 April $78 calls $0.51, closes out 10,000 March $75 calls $1.49 where 40K are in OI. XLY’s largest holdings include DIS, HD, CMCSA, AMZN, MCD, SBUX, LOW, TWX, NKE, and FOXA
WhiteWave Foods (WWAV) spread sells 2,500 Jan. 2016 $32.50 puts to buy 2,500 Jan. 2016 $45/$55 call spreads, net debit around $0.75 for the spreads.
Seattle Genetics (SGEN) a strong Biotech mover today up 6.7% and climbing out of a multi-week base above the $30 level. A large trade today sold 3,000 June $33 puts to open at $2.35, always a bullish signal in a Biotech. SGEN has formed a large weekly falling wedge and above $36.25 would clear this pattern as well as the 50 week EMA, key for a breakout. The $4.18B Biotech does have 20.1M shares short, 21.5% of its float and at a 1 year high for short interest. SGEN will present at the Cowen Healthcare Conference on 3-3 and Barclays on 3-11.
February 24th, 2015
Rockwell Automation (ROK) opening buys of 1,000 April $130 calls for $0.35/$0.40 stand out as unusual with the stock at $118 and $126 its lifetime high. The $16B machinery Co. for automation controls trades 16.47X Earnings, 2.4X Sales and 31.25X FCF with a 2.2% yield and 7-10% EPS growth. ROK has previously been discussed as a potential M&A target for Emerson, Honeywell, or ABB Ltd.
Ensco (ESV) with 3,000 April $27 puts bought to open at $1.75, another offshore name targeted with puts and looking ready to break its lows from December.
Morgan Stanley (MS) buyer of 5,000 March 6th (W) $37 calls at $0.40 to $0.45. MS with a nice cup and handle set-up, so a break above $37 can target a run to $40
Autohome (ATHM) buyer of 2,500 March $40/$45 call spreads at $1.40, reports earnings on 3-4
February 23rd, 2015
Walgreen (WBA) opening buys 2,500 weekly $79 calls $0.60 in large sweep. WBA hot chart as well, pulled back to 20 SMA and bouncing here, looking for new highs. WBA April $80 calls active trading 5,970X vs. OI 9,994 after early morning hot weekly call buys
ZIOPHARM (ZIOP) opening buy of 5,000 March $13 calls at $0.55 as large OTM bets continue to pile up and shares back over $10
3D Systems (DDD) opening sale of 4,000 August $30 puts at $4.10 at the PHLX, signal that the pain may be over for this 3D leader, shares held the 20 day SMA test last week and now looking for continuation higher out of its long base. DDD will report earnings on 2/26.
Computer Sciences (CSC) buyer of 5,000 March $75/$85 call spreads at $1.65 with report the Company may sell itself
February 20th, 2015
First Solar (FSLR) buyer of 7,350 March $50 puts at $3.65, rolled from February $50 puts, earnings on 2/24.
ZIOPHARM (ZIOP) opening buyer of 5,000 OTM March $12 calls at $0.55
Qorvo (QRVO) opening buy of 7,000 May $70/$80 call spreads at $2.15.
Finish Line (FINL) opening buys of 3,500 March $25 calls late in the session at $0.40 to $0.60, trades 20X daily calls.
Intrexon (XON) broke to a new high yet again and traded 4X daily calls as 4,350 March $45 calls bought to open at $1.35 to $1.50
February 19th, 2015
Applied Material (AMAT) opening buyer 10,000 next week $24.50 calls at $0.55 offers. AMAT also a massive buyer 20,000 next week $24 calls at $0.87, looking like big bets that Tokyo Electron deal gets approval. AMAT also with 5,000 March 13th (W) $26 calls bought $0.40 now
Facebook (FB) buyer of 4,000 October $82.50 calls at $5.45 offer, the stock strong today with a large +1.3M Net Delta in options trades after Cowen noted around 30% upside potential in shares on a Sum of the Parts valuation method.
Twitter (TWTR) shares have consolidated the earnings move for over a week now and a big buyer steps in for 10,000 March 6th (W) $50 calls at $0.56/$0.57
CSX Corp (CSX) March $37 calls OTM getting action today with 5,000 bought at $0.21 to $0.32, a name with a recent buyer of 3,000 May $36 calls, and also formerly connected to some takeover interest
February 18th, 2015
Panera (PNRA) with 1,250 Aug. $150 puts sold to open at $8.10 may mark a bottom in shares after a recent thrashing
NRG Energy (NRG) working on a multi-week base and trading 4X daily calls today as 5,000 March $25 calls are bought to open $1.40 to $1.43. The $8,45B Utility trades 16.8X Earnings and 0.85X Book with a 2.32% yield.
US Steel (X) seeing bearish action as its rally may be getting tired, and 5,500 April $24 puts are bought to open at $1.14 today.
Home-Away (AWAY) on 2-12 with a buyer of 6,500 March $30 calls at $1.80 and also traded 3,150 March $28 puts to open. A spread today sold 3,250 March $30 calls to close and 2,500 March $28 puts to close and bought 3,500 March $31 calls to open $2.05, earnings on 2-24. AWAY shares have rallied 20% in February.
February 17th, 2015
Zillow (Z) has given back much of its early positive reaction but has broken out of a weekly wedge down pattern in a longer term uptrend, powerful set-up, and now 2,000 Jan. 2016 $150 calls buy to open $9.30 offer at the PHLX, a $1.86M trade.
Cavium (CAVM) opening buys 925 March $65 calls at $1.60, name nearing key $64 breakout
Array Bio (ARRY) trader take profits of 2,500 February $4 calls and opens 5,000 June $7/$6 bull risk reversals at a $1.75 debit, placing a big bet this small cap Bio continues to be a winner
S&P (SPY) with 35,000 March 31st (Q) $204 puts bought $2.58 to open in early trading, could be some hedging with markets extended. SPY Mar. 31 (Q) $205 puts now with a big purchase of 40,000 at $2.64
February 13th, 2015
Celgene (CELG) large buyer of 15,000 March 27th (W) $105/$85 put spreads at $1.90, a name trading weak the last two days and seeing elevated put buying. CELG also with a buyer of 2,000 July $90 puts at $2.47 earlier.
Euro Stoxx 50 (FEZ) opening buy of 12,000 May $38 calls $1.75, plenty of tailwinds for Europe’s economy into 2015 after recent easing
American Express (AXP) on lows but 2,500 Feb. $78 calls buy to open $1.44 offer in a sweep here. AXP now with a buyer of 2,000 February 27th (W) $78.50 calls to open $1.53 offer
February 12th, 2015
Sealed Air (SEE) opening buy of 3,000 July $47 OTM calls $2.37, a name strong on new highs and looking for more.
SYSCO (SYY) with a buyer of 4,000 May $41 calls $1.14 to $1.20, rolling out from February as we still await the US Foods deal approval
Semi (SMH) buyer of 50,000 March $54 puts at $1 to $1.05, group back near a double top level
Devon Energy (DVN) buyer of 5,000 March $67.50 calls $1.79, closes out 8,800 February $67.50 calls, reports on 2/17
February 11th, 2015
Gartner (IT) had a rare earnings miss and shares have pulled back to its 50 week EMA and trend support of a 1 year channel up pattern. A trader today opens 1,000 June $80/$75 bull risk reversals at $1.05 debit, the trade is more than 2X total open interest in the name. The $6.87B IT Research Co. trades 25.1X Earnings, 3.4X Sales and projecting 15% forward EPS growth. IT will host an Investor Day tomorrow. IT tempered growth forecasts for both its research and consulting businesses.
ZIOPHARM (ZIOP) buyer of 5,000 March $11 calls at $1, closes out 3,750 of the February $10 calls at $0.40
Go-Pro (GPRO) attempting to bottom near the $45 level, and trading higher today, the February 27th (W) $46.50 calls seeing some size buyers for 3,150X at $1.75 to $1.85
Goldman Sachs (GS) with 500 July $185 calls bought for the second straight day, pricey contracts at $9.35. GS also a buyer of 1,000 Jan. 2017 $210 calls $12.60
February 10th, 2015
Agilent Tech (A) massive spread buys 15,000 August $42.5/$50 call spreads at $1.67 and sells 15,000 of the August $35 puts to open $1.77, closes out of some February risk reversals, earnings 2/17
Teva Pharma (TEVA) buyer of 2,000 June $57.5/$65 call spreads at $2.03
Bruker Corp (BRKR) buyer of 5,000 March $20 calls to open at $0.48 to $0.60, sending IV jumping, 150X daily calls, earnings to be reported on 2/19. Goldman cut shares to a Sell in December but BRKR is in an industry where M&A is expected with Agilent (A) and Thermo Fisher (TMO).
Oil Exploration (XOP) buyer of 20,000 March $43/$38 put spreads $0.70
February 9th, 2015
Zillow (Z) rising to day highs and a spread sold 1,500 March $130 calls $0.99 to buy 1,500 May $125 calls at $4.44
KKR Corp (KKR) opening buys of 3,000 February $25 calls at $0.20 into earnings tomorrow morning. KKR (KKR) also with 5,000 June $26 calls bought to open $0.55/$0.60
Penn Virginia (PVA) rising as 10,000 March $5 calls trade $2.50/$2.55 offer
NCR Corp (NCR) buyer of 10,000 March $27 calls to open $1.20 at the PHLX, tied to stock, long considered to be an activist target for a break-up
February 6th, 2015
Demand-Ware (DWRE) now trading 2,000 OTM Feb. $65 calls that started at $0.45 around Noon on a $0.25-$0.45 bid-ask and now trading as high as $0.70, sharp rise in IV, and a name that has seen peers like Hybris and Micros Systems acquired in the past year. DWRE action looks very suspicious into the weekend, worthy of a lottery play.
McDonald’s (MCD) buyer of 5,300 Jan. 2017 $105 calls $3.75 and 7,200 Jan. 2017 $110 calls $2.73, closes 16,000 Jan. 2016 $100 calls $2.80
Gap (GPS) opening Feb./March $42 put calendar spreads at $0.80, target 2/26 earnings, interesting strategy
Reliance Steel (RS) bearish flow trading 25X daily puts, the February $55 puts bought 2,600X to open $1.65 offer in a sweep
February 5th, 2015
First Republic (FRC) with the unusual buyer of 1,000 February $55 calls at $0.60 to $0.75, 40X daily calls and 30 day IV jumping 10%. The $6.8B regional bank was reportedly a target for Royal Bank of Canada, but it chose City National instead.
Ralph Lauren (RL) reversing red to green today after being slammed on earnings yesterday, and one key large spread sold 1,500 April $135 puts $3.20 to buy 1,500 July $155 calls $3.70.
Fire-Eye (FEYE) with the breakout move today and potential short-squeeze into 2-11 earnings, in focus after another large hacking headline. A trader closes out 2,500 June 35 calls $5.75 and buys 4,000 June $40 calls to open at the $3.70 offer
Kraft (KRFT) buyer of 3,500 June $65 calls at $4.40 to $4.50 is rolling out from February $65 calls, not sure why rolling out before 2/12 earnings, so could see a pullback, which would be buying opportunity again
January 22nd, 2015
Manitowoc (MTW) opening buy of 5,000 March $19 calls at $1.25 in a multi-exchange sweep, trades 3X daily calls, earnings on 1/29. MTW is a breakup target that Carl Icahn recently filed a 13D, and the Food-Service segment seen as a spin-off play. CSFB rates shares Outperform with a $27 target.
Oil & Gas Exploration (XOP) has a double bottom in place at $42.50 and today a buyer of 15,000 March $46/$52 call spreads at $1.95 to open.
Treasury (TLT) spread bought 5,000 March $133 calls at $2.95 offer, traded 5,000 March $137 calls at $1.60 mid-market, and 5,000 March $141 calls closer to bid at $0.90, likely targeting a move up to $140.
Discover Financial (DFS) shares down 7.35% on earnings, but now trades 2,500 April $60/$52.50 bull risk reversals to open at a $0.05 credit, a willing buyer of the stock at $52.50, but wanting to participate in the upside if shares were to recover.
January 21st, 2015
Tile Ship (TTS) shares jump as 1,860 August $10 calls are bought at the $1 offer to open, aggressive buyer with the bid having been at $0.50. TTS has spent a lot of time trying to hold above the $8 level and the $415M Co. at 26.4X Earnings, 1.65X Sales and 4.45X Book still does not look all that attractive on valuation, but some traders expecting the stock to recover.
Cypress Semi (CY) opening buy of 10,000 June $14 calls $1.50, this on top of the large call buys highlighted this morning from recent action, ahead of earnings tomorrow morning
Tidewater (TDW) unusual bullish action with 1,400 April $35 calls bought to open at $1. The $1.5B offshore Oil name trades 8X Earnings and 0.54X Book with a 3.3% yield. TDW has put in a nice base the last few weeks with a double bottom W pattern.
Men’s Wearhouse (MW) with an opening spread for 5,000 Jan. 2016 $50/$38 bull risk reversals at $0.90 debit
January 20th, 2015
Rayonier Advanced Materials (RYAM), earnings on 1/28, trades a lot of 2,250 February $22.50 calls to open $0.85 offer, 25X daily calls. The $917.5M Co. hit a new low last week but trades just 11.55X Earnings and 0.93X Sales.
ZIOPHARM (ZIOP) touched its 8 day EMA today on lows and rebounding, also seeing a big buyer of another 5,000 February $10 calls $0.40
Intel (INTC) buyer of 5,000 October $37 calls at $2.53, closes some April $32 calls that are now ITM, shares down on a JMP downgrade this morning
Liberty Global (LBTYA) opening buys of 2,400 April $50 calls at $1.30 to $1.45, bullish action, and a name with 15,000 July $55/$65 call spreads in OI
January 16th, 2015
Flir Systems (FLIR) with an unusual buyer of 1,000 April $32 calls $0.75, which will just about double total call open interest. FLIR recently launched a bunch of new products at CES 2015. Imperial raised shares to Outperform with a $40 target in October, noting new products boosting shares. The $4.2B Co. trades 17.7X Earnings, 2.8X Sales, and 2.6X Book with a 1.34% dividend yield.
Northwest Bio (NWBO) strong Biotech chart and has seen call buying in the past, and today with the bullish signal as 5,500 April $5 puts are sold to open $0.40/$0.45
Euro (FXE) March $114 calls bought 10,000X today looking for a bounce
Impax Labs (IPXL) opening bull risk reversal 2,000X at $2.90, March $35/$30, closes 1,500 Jan. $30 calls
January 15th, 2015
Scorpio Tankers (STNG) trading 20X daily calls as 2,400 April $10 calls are bought to open at $0.50. STNG is a $1.53B tanker Co. trading 11.87X Earnings and 1.25X Book with a 5.39% yield, and calls have been hot in peers like FRO, NAT, and DHT, but STNG yet to make a run.
ConAgra (CAG) with a surge in IV as 3,000 Jan. $36 calls trade and also buyers active for 3,500 February $37 calls at $0.35 on a day that Kraft (KRFT) calls are active on potential for M&A. CAG’s IV ramped sharply higher and the $37 calls more than doubled in minutes, trading 18,850 calls as of 2pm, 15X average.
WisdomTree Investments (WETF) March IV spiking as 3,500 March $17.50 calls are bought at $0.40 this morning, earnings on 2/6. WETF shares are consolidating in the $14/$16.50 range the last 11 weeks. The $2B Asset manager trades 32.15X Earnings and 29.2X FCF with a 2.11% yield and targeting 30%+ EPS growth this year.
American Air (AAL) buyer of 10,000 February $52.50 calls at $1.56 to $1.59. American Air (AAL) ITM February $49 calls being bought 3,000X as well $3.25
January 14th, 2015
EXACT Sciences (EXAS) buyer of 3,565 February $25 calls $3.30, rolls from January $25 calls
ZIOPHARM (ZIOP) buyer of 3,810 July $9 calls $2.21, rolled from Jan. $7 calls
Kraft (KRFT) buyer of 1,500 March $65 calls at $1.20, been action in this one, potential activist or 3G Capital target
Six Flags (SIX) buyer of 3,905 February $40 calls $4.20, rolled from Jan. $40 calls
January 13th, 2015
Level 3 Comm. (LVLT) shares have re-tested the major breakout at $47 and trying to move higher today, and an opening buy of 5,000 February $48 calls at $1.80 is looking for a move higher, earnings on 2/4.
Healthcare (XLV) near a new high but puts trading 12X average with 25,000 February $69 puts bought at $1 and 20,000 March $69 puts at $1.61
InvenSense (INVN) looking ugly and 10,000 February $15 puts buy to open at $2
Monsanto (MON) February $120 straddle sold to open 6,000X at $5.15, expecting the $115/$125 range to hold
January 12th, 2015
Dish Network (DISH) buyer of 4,000 March $75 calls $3.50, rolls out of January $70 calls at $2, a name with a ton of size projecting major upside in shares the next few months
Frontline (FRO) with 20,000 February $5 calls bought today $0.40 to $0.50, large roll from Jan. $2 calls for 18,500X here, the tanker stocks staying hot
Brinker (EAT) with a buyer of 1,750 Jan. $60 calls at $1.45 that expire this Friday, ahead of its presentation at the ICR-XChange
Microsoft (MSFT) bullish action into early weakness as 5,000 February $47 calls are bought $1.20 to $1.25 offers, more than $500K call premium bought in the opening 30 minutes
January 9th, 2015
MoHawk (MHK) breaking out and 1000 February $155 calls are bought at $8.10 for a name that has seen strong call accumulation.
Oil Services (OIH) with 11,000 February $32/$29 put spreads bought at $0.63 today with earnings season nearing and a lot of guidance cuts likely
American Air (AAL) opening buy of 5,000 May $60 calls $2.85, closes out 3,500 February $48 calls
Nuance (NUAN) buyer of 2,000 February $15 calls $0.25 to $0.30 after shares fell 3.4% on a downgrade, also large short put OI at the Feb. $14 strike of more than 45,000 which favors a rebound.
Impax Labs (IPXL) , after making new highs this week, trades 1,000 March $35/$30 bull risk reversals today at $2.20 debit, expecting this momentum to continue. IPXL jumped after the FDA approved RYTARY for Parkinson’s. The $2.47B drug Co. trades 21X Earnings, 4.36X Sales, and 2.66X Book. Wallach-Beth raised its target on IPXL to $42 this morning.
January 8th, 2015
Wal-Mart (WMT) continues to be a hot mover as consumer spending is on the rise and its target market benefits from lower fuel costs. The March $92.50 OTM calls are bought to open $1.31 today 10,000X, and also a name I still think could see activist pressures to spin-off Sam’s Club.
DuPont (DD) bullish flow with 6,500 Jan. 23rd (W) $74.50 calls bought to open $0.79 offers and then buyers paid up to $1.04 offer. DuPont (DD) trader that bought 28,000 Jan. 23rd (W) $72 calls earlier this week takes profits and rolls up to the $74.50 calls, buying 28,500X at $1.70
Take Two (TTWO) buyer of 5,000 March $30 calls at $1.45, closes out March $24 calls
Enbride Energy (EEP) opening trade for 5,000 February $40/$37.5 bull risk reversals at a small credit.
January 7th, 2015
Resolute Forest Products (RFP) spiking with IV surging as 200X daily calls trade, the January $17.50 and February $17.50 calls each bought 5,000X at $0.30 and $1 respectively, opening action.
Infinera (INFN) buyer of 5,000 April $13 calls to open $1.70, rolls back some of the $15 calls
Oil Services (OIH) bear pressing more lows as 20,000 February $34 puts close and 30,000 April $30 puts are bought to open $1.25
Treasury (TLT) buyer of 4,200 March $135/$145 call spreads earlier at $1.27
ITC Holdings (ITC) traded 50X daily calls with large buyer 3,000 August $45 calls $1.35. The $6.5B Midwestern Utility trades 19.95X Earnings, 6.2X Sales and 3.98X Book with a 1.56% yield, and unusually strong double digit EPS growth that makes it a leader versus peers. Senator Investment Group took a new 2.65M share stake in ITC in Q3. ITC shares are trading near all-time highs, and $42 recent high resistance for a measured move to $45 yet to be met from its $40 breakout.
Aaron’s (AAN) traded 60X daily calls as 3,500+ February $30 calls were bought to open $1.50 to $1.70 this afternoon, next earnings report scheduled for around 2/5. The $2.19B retailer that also leases products trades 14.1X Earnings, 0.87X Sales, and 1.82X Book with a small 0.3% yield and positioned for double digit EPS growth this year. KeyCorp upgraded AAN to Buy on 12-17 with a $34 target and is a name likely to see a Holiday boost along with other retailers due to the low gas costs. AAN is the 4th largest holding for Shapiro Capital, a known activist, and also Starboard Value has a position. AAN has come off the October low and recently cleared $29 and re-tested that this week, and now looking to clear $31 for the next leg higher to $35.
January 6th, 2015
Huntington Bancshares (HBAN) pulled back to trend support and its rising 20 week EMA and buyers active for 3,500 Jan. 2016 $10 calls today at $1.04
Eli Lilly (LLY) buyer of 2,000 Jan. 30th (W) $72.50 calls to open at $1
Vertex Pharma (VRTX) trade opens 1,000 Feb. 13th (W) / February $130 call calendar spreads
McDonald’s (MCD) buyer of 35,000 February $95 calls $2.27, rolls out Jan. $95 calls at $0.90
January 5th, 2015
Control-4 (CTRL) one of the stronger Tech names today and breaking out, trading 8X daily calls with 1,300 July $20 calls bought to open $1.30 to $1.90, very unusual action for the home automation play.
Tower Semi (TSEM) with a 1,000 contract spread that sold the July $10 puts to open and bought the $12.50/$20 call spread, $1.10 debit for the spread
Omeros (OMER) seeing some unusual buys of 1,000 May $28 calls at $3.10 after 800 were bought Friday
Qiwi Plc (QIWI) February IV diving with 3,000 February $20 puts trading to open, indications of an opening seller
December 22nd, 2014
DuPont (DD) buyer of 30,000 Jan. 2015 $74.50 calls at $1.19, rolling up from $72.50 strike with shares remaining strong to new highs
Johnson & Johnson (JNJ) weekly $106 calls buy to open 3,000X at $1.06 just before the close
Bed Bath and Beyond (BBBY) one of the nicest daily charts out there and traded 2,000 Jan. 2015 $79/$66.5 bull risk reversals to open $0.79 debit ahead of 1/8 earnings.
Walgreen (WAG) shares bull flagging ahead of 12/23 earnings and more bullish options action today as 5,000 April 2015 $80/$67.50 bull rise reversals trade to open at net credits.
December 19th, 2014
Chicago Bridge and Iron (CBI) buyer of 12,500 Jan. 2015 $40 puts $1.70, closes out 4,950 of the Dec. $44 puts $2.98, staying bearish with Energy projects likely to impact its outlook
Yelp (YELP) buyer of 500 next week $53 calls at $1.30 this morning and now buyers surfacing for 2,500+ Feb. 2015 $67.50 OTM calls, speculative OTM calls, a name that has shown plenty of technical weakness, but remains on the radar as a potential acquisition target
Rice Energy (RICE) buyer of 17,500 April 2015 $25 calls $3.70, rolls out of 20,500 Jan. 2015 $25 calls $1.60
Burlington Stores (BURL) buyer of 3,500 March 2015 $50 calls at $2.50, rolling up some of the March $45 calls
Mead Johnson (MJN) opening buy of 2,000 May 2015 $110 calls $4 to $4.50, trading 3X daily calls, a name always seen as a takeover target for Danone
December 18th, 2014
Alibaba (BABA) buyer of 20,000 March 2015 $120/$140 call spreads at $3.75, stock replacement with a lot of big hedge funds buying this name in Q3
Russell 2000 (IWM) bulls looking for it to finally clear 2014 highs and run, more than 65,000 Dec. 31 (Q) $121 calls bought $0.32 to $0.38
American Air (AAL) buyer of 5,000 Feb. $55 calls at $2.07 offer, over $1M call premium bought, as traders buy the Airline dip seeing as every Oil bounce is being sold into
EOG Resources (EOG) buyer of 1,850 April 2015 $100 calls $5.50 offer, over $1.1M call premium bought in early trade. EOG now trading over 6,000 April $100 calls with buyers, some now rolling back from Jan. 2016 $100 calls.
December 17th, 2014
Chevron (CVX) with a buyer of 10,000 Jan. 2015 $110 OTM calls after COP and XOM saw Jan. 2015 call buying yesterday
Stillwater Mining (SWC) buyer of 5,000 July 2015 $16 calls $1.45 offer, upgraded at Goldman Sachs this morning, and recently buyers of 3,500X in this contract
Ctrip.com (CTRP) buyer of 12,000 June 2015 $50 calls $4.20 to open, stock replacement
Weight Watchers (WTW) pops as 2,500 Jan. 2015 $27.50 calls buy $1.30
December 16th, 2014
Conoco Phillips (COP) buyers of 15,000 Jan. 2015 $67.50 calls $1.66 to $1.73 and Exxon Mobil (XOM) buyers of 15,000 Jan. 2015 $92.50 calls at $1.21 to $1.23 as the large cap Oil names are picked as turnaround candidates with this reversal in Oil today.
Yum! Brands (YUM) trades 2,500 July 2015 $72.5/$60 bull risk reversals at net debits around $1.90, bullish positioning into recent weakness.
Huntsman (HUN) buyer of 3,500 May 2015 $22 calls $2.40 offer to open in a sweep, Chemical names seeing plenty of call buying today
Men’s Wearhouse (MW) buyers active for 1,700 ITM Jan. 2015 $39 calls at $2.80 and a block of 2,500 Jan. 2015 $41 calls $1.55, trading 15X daily calls in the first hour of trading.
December 15th, 2014
Ophthotech (OPHT) buyer of 500 Mar. $50 calls $3.20 offer, $160K bullish trade in the $1.64B eye-disease Biotech
Carnival (CCL) continues to see a good amount of bullish action ahead of 12/19 earnings, buyers of 3,700 Dec. $43 calls and 800 Jan. $43 calls, already a name with sizable bullish bets in OI
Golar LNG (GLNG) big bet buys 10,000 March 2015 $40/$60 call spreads $3.80, may also be rolling back strikes
AGCO Corp (AGCO) buyer of 4,000 Dec. $45 calls at $0.30
December 12th, 2014
Black Hills (BKH) buyer paid $3.65 for 1,800 Jan. 2015 $50 calls, trade is large considering average daily volume of 16 calls, but also a name with more than 3,600 Feb. 2015 $60 calls in OI. The $2.36B Utility trades 1.73X Book with a 2.95% yield.
Prudential (PRU) shares pulling back as the market worries about Insurance exposure to Energy, but a buyer comes in for 6,250 June 2015 $90 calls $4.95, closes 5,000 Jan. 2015 $87.50 calls $3.10.
Michael Kors (KORS) opening sale of 10,500 Jan. 2015 $75 puts $1.70 bid, showing a lot of confidence as shares look great on the chart now and retail/apparel seeing positive tailwinds from gasoline costs.
Gilead (GILD) buyers of 2,000 Jan. 9th (W) $105 calls $4.05 to $4.10, posted strong prescription data this morning
December 11th, 2014
Eli Lilly (LLY), after an epic run, seeing bearish flow come in now as 7,000 Jan. 2015 $75 puts buy to open $2.12 to $2.15 and 1,450 of the April 2015 $75 puts at $3.90, more than $1.7M put premium purchased, a very extended name at this point.
Armstrong Worldwide (AWI) unusual opening buy of 1,150 March 2015 $50 calls at $3.80. Value-Act has been raising its stake and now has a 16.8% stake in the Co. The $2.62B flooring and ceiling products Co. trades 20.5X earnings, 0.96X sales, and 3.38X book.
Dick’s Sporting Goods (DKS) bullish action as 2,000 Jan. 2015 $47 calls are bought to open $2.50, trading 2.5X daily calls the first 30 minutes and already size sitting in December call OI. DKS shares re-tested a key breakout and held, not looking to bounce as retail strengthens.
WhiteWave Foods (WWAV) trading 3X daily calls in early action with 2,000 of the Jan. 2015 $40 OTM calls bought $0.15-$0.20, considered a takeover target
December 10th, 2014
Freescale Semi (FSL) opening buyers of 4,050 Jan. 2015 $25 puts at $1.55 to $1.60, trades 3X daily puts. FSL shares are trading up to major resistance at $25.
Parsley Energy (PE) with 5,000 June 2015 $10 puts bought $1.15 to $1.25 today, bearish action in the Energy name. The $1.57B Permian Basin Co. trades 1.75X Book and Debt/Equity at 0.84, another name that could be in serious trouble with Crude Oil $60.
AT&T (T) slammed the last two days and now trading 12.65X Earnings with a 5.6% dividend yield. T is already trading its 34K daily average calls today with March active, the $33 and $34 calls each with 4,500+ trading and 12,000 of the $35’s. T shares hit trend support on lows this morning.
Home Depot (HD) buyer of 2,000 Dec. $100 calls $1.11
December 9th, 2014
HR Block (HRB) shares hit 5.5% on earnings today but a trader opened 2,500 April $34/$30 bull risk reversals at $0.10 debit, seeing a nice reward/risk ratio at this level.
Infinity Pharma (INFI) bullish signal as 2,000 Dec. $16 puts sell to open $0.30 and 5,000 Jan. 2015 $14 puts sell to open at $0.28. INFI shares are coming out of a major bottoming pattern that targets a return to $21.
WhiteWave Foods (WWAV) has traded back to support and today 1,000 April 2015 $35/$30 bull risk reversals open at $0.90 debit at the PHLX.
Zoes Kitchen (ZOES) with 1,000 Jan. 2015 $30 puts bought $1.80/$1.85 to open, 3X daily puts as shares make multi-week lows
December 8th, 2014
Liberty Global (LBTYA) with 2,000 April 2015 $55 calls bought to open $1.50, reports recently of potential Vodafone (VOD) takeover interest, and last week 15,000 July $55/$65 call spreads bought to open.
Hewlett Packard (HPQ) weekly $38.50 calls hot with 3,500 bought $0.28 to $0.38
Tesoro (TSO) with 5,500 Dec. $75 puts bought to open $1.40 to $1.47 as one of the last remaining Energy names yet to break down hard
Axalta Coating (AXTA) a recent IPO and sees unusual action here as 1,900 April 2015 $25 calls are bought to open $1.65 to $2. The $5.73B Co. trades 1.3X Sales and 4.8X Book.
December 5th, 2014
Dish Network (DISH) with a seller in the March 2015 $62.50 puts that buys 3,750 of the March 2015 $77.5/$90 call spreads at $3.30. DISH shares have pulled back a bit since a big run last month with the Spectrum auction results.
National Oilwell Varco (NOV) longer term upside bet puts on 3,700 Jan. 2016 $77.5/$57.5 bull risk reversals at a net $0.60 credit, basically willing to be long stock around $57, but wanting to capture any potential upside move with M&A activity in the Oil Services group recently.
CBS Corp (CBS) buyer of 5,000 Dec. 26th (W) $56 calls $1.05 to open, rolls out of this week’s $55 calls, and also a buyer of 5,000 Jan. 2015 $60 calls $0.525
Omnicare (OCR) with a bull flag set-up and size in Dec. $70 and $75 call OI attracts a buyer of 2,000 March 2015 $75 calls $1.80 with a $0.40/$1.80 bid-ask, aggressive buyer
December 4th, 2014
Quest Diagnostics (DGX) struggling to clear yesterday’s high and now trades 8X daily puts as 5,000 May 2015 $60 puts are bought to open $2.50 to $2.60, bearish position expecting shares to move lower the next few months. The $9.5B Co. trades 15X Earnings, 1.3X Sales and 2.28X Book with a 2% yield. DGX has 16M shares short, 11% of its float, though down from over 21M shares in August.
Wal-Mart (WMT) buyer of 10,000 Jan. 2015 $85 calls $1.29 after shares pulled back on a UBS downgrade, but longer term bullish call OI remains and the Company is doing very well
Adobe (ADBE) buyer of 3,000 April 2015 $80 calls at $2 at the PHLX, stock replacement ahead of 12/11 earnings, and big buyer of 5K Dec. 70 calls remains in OI
Teck Resources (TCK) buyer of 4,500 May 2015 $13 puts at $0.86 as Coal stocks crumble
December 3rd, 2014
Caterpillar (CAT) with a buyer of 4,500 May 2015 $95 OTM puts at $4.25 offer to open at the PHLX with shares at day highs, but a name hit hard last week and its exposure to Energy a concern for a Co. already struggling for organic EPS growth.
Zynga (ZNGA) bullish flow today with 5,500 Feb. 2015 $2 calls bought to open around $0.65. ZNGA is now trading 2.7X cash value with no debt.
Sanchez Energy (SN) Dec. 2015 large bullish spread sells 3,000 of the $8 puts at $1.80 and buys 3,000 of the $10/$20 call spreads at $2.70
Microchip Tech (MCHP) shares up 2.85% after a minor guidance boost but buyers of 4,500 Jan. 2015 $45 puts at $1.15 to $1.20 in sizable lots looking to fade the strength, much like the guidance cut in October saw shares sell off initially, but have now made it all back.
December 2nd, 2014
Raptor Pharma (RPTP) with 5,000 Jan. 2015 $10 calls bought to open at $1 offer, over $500K call premium, while 5,000 Feb. 2015 $7.50 puts trade to open at $0.80 at the CBOE, an opening seller, so very bullish flow in the recently struggling Biotech. The $555M Biotech trades 8.87X Sales and not yet profitable, also over 30% of its float is short. OpCo started coverage on shares at Perform on 10-31.
P&G (PG) a strong breakout last week and today an opening buy of 5,000 Feb. 2015 $92.50 calls $1.15 at the PHLX as shares press new highs
Walgreen (WAG) selling off to LOD but a buyer comes in for 3,500 Jan. 2015 2nd (W) $68.50 calls at $1.60 offer, closes out 2,500 of this week’s $65 calls, staying bullish, earnings 12/23
December 1st, 2014
Comcast (CMCSA) bullish action with 5,000 July 2015 $60/$52.5 bull risk reversals trading to open for small net credits.
Whiting Petro (WLL) one of the struggling Oil E&P names that made a poorly timed deal for Kodiak (KOG), but buyers stepping in today for 5,000 Jan. 2016 $60 calls at $2.90 with shares trading $39
Yahoo (YHOO) down 3.5% and testing the 20 day EMA, and 5,000 March 2015 $50 calls buy at $3.95, sets up for a bounce and a name with sizable upside call positioning for weeks now, and will confirm OI change tomorrow.
Liberty Global (LBTYA) with a buyer of 15,000 July 2015 $55/$65 call spreads at $2.05, closes out 15,000 Jan. 2016 covered bull risk reversals. LBTYA was mentioned late Friday as a Co. that Vodafone (VOD) may be looking to make an offer.
Genesis Energy (GEL) unusual opening buy of 1,000 March 2015 $37.50 puts $1.35, an Oil & Gas midstream Co. with room to fall
November 26th, 2014
Mylan (MYL) active buyers of 2,700 Jan. 2015 $57.50 calls in early action paying $2.47 to $2.53, and comes after Jefferies laid out the case for Pfizer (PFE) buying out MYL around $70/Share
Schlumberger (SLB) roll down of 7,000 Dec. $95 puts to the $90 strike
Assured Guaranty (AGO) running with buyers active for 2,500+ Jan. 2015 425 calls at $1.35 offers, a name with large longer dated size in OI, bullish
Family Dollar (FDO) jumps as 9,000 Jan. 2015 $80/$85 call spreads buy at $1
November 25th, 2014
Zoetis (ZTS) with an opening buy of 1,000 April 2015 $50 OTM calls at $1.30 with stock trading $44.25, a recent new position for Bill Ackman’s Pershing Square and expected to be bought out in 2015.
CNOOC (CEO) a weak Energy play and 2,500 June $155 puts bought today at $12, rolled from Dec. $165 puts. The $67.6B Chinese Oil & Gas Co. is nearing a major technical breakdown on the long term chart.
BioMarin (BMRN) with a buyer of 1,500 April 2015 $90 calls at $9.20, closes out 1,000 of the Jan. 2015 $70 calls, similar roll recently took place as well, shares at new highs following it’s RNA acquisition to start the week.
Akamai Tech (AKAM) shares approaching the September highs and 1,500 Feb. 2015 $65 puts buy to open at $4.10 offers, more than $500K put premium bought today, bearish action into this move
Devon Energy (DVN) down 2.25% on day lows but seeing some more bullish options flow, a buyer of 2,700 Dec. $66 calls at $1.62 to open and also bull covered risk reversals in April 2015 trading 1,500X, buying the $70/$80 call spreads and selling the $60 puts.
November 24th, 2014
ON Semi (ONNN) running with 2,750 Jan. 2015 $9 calls bought $0.35, recent new 15M share stake for Greenlight Capital
Actavis (ACT) with more large bullish covered risk reversals, the Jan. 2015 $280/$310 call spread bought 2,000X with the $240 puts sold to open, net debit of $1.09 per spread
T-Mobile (TMUS) with 5,000 Feb. 2015 $29 calls bought to open at $1.65/$1.70 after 5,000 of the $30’s bought last week. Another 5,000 bought later in the day at $1.60.
McDonald’s (MCD) large roll of 8,000 Dec. $92.50 calls to Jan. $95 calls, expecting JANA Partners to make some noise in this name after initiating a position recently
November 21st, 2014
Infoblox (BLOX) buyer of 2,500 Jan. 2015 $15 calls $2.35 offer, reports 11/25 and size already in OI from large buys. BLOX Jan. $17.50 calls actively bought as well now with 3,500 trading.
Applied Materials (AMAT) with 14,500 April 2015 $25 calls bought $1.05, rolled out of 25,000 Jan. 2015 $24 calls, been a lot of large rolls to April lately, awaiting Tokyo Electron deal approval
Lululemon (LULU) continues to trade well since clearing $42.25 and 2,350 Dec. $47.50 calls bought today at $2.45 to $2.50, reports on 12/11
Agilent (A) trades 5,000 Jan. 2015 $60/$50 bull risk reversals in the chain not ex the Keysight spin-off, trades $1.175 debit, more bullish action
November 20th, 2014
Teva Pharma (TEVA) with a buyer of 6,000 Jan. 2015 $57.50 calls at $2.15 offer, already 10,439 in OI, and a rumored buyout target earlier this week with so many deals going down in this industry.
Pioneer Natural (PXD) working on a double bottom and action hot in December $190 OTM calls with 6,000 bought to open at $1.15 to $1.45.
Dollar Tree (DLTR) shares up 4.75% after a very strong earnings report, and a buyer of 10,000 May 2015 $67.50 OTM calls opens at the $3 offer at the PHLX, stock replacement strategy
Axiall (AXLL) unusual buyer of 1,000 May 2015 $50 calls at $2.05, shares moving out of post-earnings consolidation
Gran Tierra Energy (GTE) traded 28X daily calls with 2,800 May $5 calls bought $0.40 to $0.45. GTE has a $1.34B market cap and is basing at 2012 lows, and very cheap at 8.85X Earnings and 0.9X Book without any debt and a strong cash holding. CSFB recently lowered its target on shares to $7.50 as did Citi.
November 19th, 2014
Kellogg (K) with 4,500 December $67.50 OTM calls bought at $0.40 offers, one of the names rumored of interest to 3G Capital who is raising funds for a buyout of a key American consumer brand.
Jet Blue (JBLU) buyer of 10,000 March 2015 $14 calls $1.05 offer, rolls out Jan. 2015 $13 calls that were bought in size, and comes after the Company announced moves to boost profitability
McDonald’s (MCD) trades 10,000 Jan. 2015 $100/$90 bull risk reversals at $0.48 debit, a recent new position for JANA Partners
International Paper (IP) buyer of 10,000 April 2015 $55 calls at $2.96 offer to open, closes the Jan. 2015 $52.50 calls, looking for more upside as the Company evaluates a MLP
November 18th, 2014
Avago Tech (AVGO) breaking out today and now 2,000 Dec. $95 calls buy to open $1.90 to $2 ahead of 12/3 earnings
AT&T (T) opening spread trades 10,000X20,000 at the ARCA, Feb. 2015 $35/$32 ratio spread at $0.48 debit, a good strategy when the name gets overbought, also willing to be long the stock at $32 considering the yield.
Viacom (VIAB) large opening March 2015 $77.5/$70 bull risk reversal 2,000X at $0.10 debit, second large r/r in March in a week.
Masco (MAS) opening buy of 7,000 Feb. 2015 $24 calls at $1.03, closes out 7,000 Jan. 2015 $23 calls $1.14
November 17th, 2014
Unum Group (UNM) trading 3,500 December $34 puts bought $0.85 to $1.30 offers to open, 40X daily put volume and more than 2X total put open interest as 30 day IV jumps 32% on the day. UNM will hold its Annual Investor Day 12-16 at 2pm which looks to be the catalyst these put buys are targeting for a move lower.
Microsoft (MSFT) seeing an insane amount of call buying today trading 135,000 calls 2.5 hours into the day and 61% offer for $1.8M call premium bought and a +1.7M Net Delta, large buyers in December $49 and $50 calls, and the most notable 45,000+ November $50 calls trading to open. MSFT 30 day IV up 13.5% on the day. MSFT present at UBS Tech Conf. on 11-19 and CRM reports this week, who it has partnered with in the cloud.
Associated Estates Realty (AEC) a very strong move today out of consolidation and trades over 4,000 March 2015 $20 calls to open at $1.10 to $1.25, and total OI in calls was 1,542 into today, very unusual position. The $1.13B Midwest REIT trades 1.82X Book with a 4.07% yield. AEC is an event play after Jonathan Litt launched an activist campaign to replace the Board of Directors, and he has had success in the past pushing REITs to be sold.
November 14th, 2014
Kinder Morgan (KMI) opening buy of 5,000 November 28th (W) $38.50 calls $1.25, massive size remains in OI, nearing $39 breakout
Yahoo (YHOO) with an opening buy of 10,000 April 2015 $65 calls at $0.95 at the PHLX, and lately YHOO’s performance has been closely tied to Alibaba’s (BABA), so expecting more momentum.
Baker Hughes (BHI) large spread trades amidst deal talks with Halliburton (HAL), the December $50 puts are sold to open 10,000X at $0.63 and December $62.5/$75 call spread bought 10,000X, both legs actually appear bought, overall a very bullish spread.
DreamWorks (DWA) buyer of 3,500 December $28 calls at $1.35, rolls out of November $28 calls, seeing potential for a takeover by Hasbro (HAS), but wanting more time, and Dec. $24 call OI above 9,000 from a 10-23 buyer of 5,000 at $1.40 to $1.85 and another 3,000 at $1.55 on 10-27.
November 13th, 2014
Reading International (RDI) very unusual action with 800 April 2015 $12.50 calls bought today at $0.65 offers and has seen elevated call buying the past week. RDI shares have been strong, up 50% YTD to new highs, and the $270M owner of Cinemas and Theaters trades 1.05X Sales and 2X Book. RDI has been moving on unusually heavy volume lately, very unusual and suspicious. RDI posted +288% revenue growth in Q2 and its CEO stepped down due to health concerns.
Dealer Track Tech (TRAK) unusual opening buys of 1,000 December $45 calls $2.50 to $2.55, a name I’ve always seen as a likely takeover target as a niche player
BioMarin (BMRN) opening buy of 1,500 April 2015 $90 calls at $7 offer, closes out 1,000 of the Jan. 2015 $70 calls at $17.70, looking for even more upside
EOG Resources (EOG) with 2,750 OTM Dec. $90 puts bought to open $1.99 to $2.05 with Crude Oil breaking lower
November 12th, 2014
Chicago Bridge and Iron (CBI) more bearish flow today with a buyer of 2,500 Nov. 28th (W) $52.50 puts and 2,000 of the Jan. 2015 $55 puts bought $3.30 offer.
Weatherford International (WFT) trades 3,160 Feb. 2015 / May 2015 $16 call calendar spreads to open at $0.56 debit, expecting limited upside the next few months, but expecting shares to hold up.
Mylan (MYL) bullish options positioning remains active with 1,000 December $55 calls bought $1.11-$1.13 and now 2,000 December $57.50 calls paid up to $0.70 to open.
Valeant Pharma (VRX) December IV surges higher as 5,000 Dec. $135 calls are bought $5.90 to $6.30, trading 2X daily calls in early action. VRX on 10-29 saw large opening buys of Dec. $145/$160 call spreads at $2.85 for 6,000 contracts, and remain in OI
November 11th, 2014
Leggett & Platt (LEG) opening buys of 2,000 November $40 calls $1.15 offer, 20X daily call volume. The $5.6B furnishings Co. is trading to new highs, and trades 19.65X Earnings, 4.7X Book and 39X FCF with a 3% yield.
ACADIA Pharma (ACAD) buyer of 1,500 March 2015 $30 calls $3 to open, closes 3,025 Jan. 2015 $30 calls $1.45. ACAD is coming off earnings and delayed the timing of NUPLAZID NDA Submission.
Realogy (RLGY) has been on a strong run with housing strength and today 10,000 Jan. 2015 $45 calls are bought to open $1.30 offer, rolled up from Jan. 2015 $40 calls closed $3.80.
Carnival Corp (CCL) with 5,000+ Jan. 2015 $41.50 calls bought at $1.30 to $1.33, look to be adding to the current OI above 10,000
November 10th, 2014
Tableau Software (DATA) November $85 calls bought 2,000X at $2.15 offer in a multi-exchange sweep, opening action, shares pulled back some off recent earnings high.
Schlumberger (SLB) bearish action coming in as shares move back below $100, the December $95 puts are bought to open 6,000X at $1.70 to $1.72.
Walgreen (WAG) buyers of 20,000 Jan. 2015 $70 calls at $1.31 to $1.40 as the December 5th (W) ITM $63 calls close 11,500X at $4.45, shares continue to climb
NCR Corp (NCR) now trading 2X daily calls with 3,850 December $29 calls bought to open at $1.40, shares quickly closed its earnings gap as investors see the eventual potential for a Company break-up as a catalyst to unlock value. NCR is Marcato Capital’s top holding, a known activist.
November 7th, 2014
Shutterfly (SFLY) looks to be stabilizing after a sharp drop when Silver Lake failed to reach a deal toa cquire the Company. SFLY December $45 calls with 1,000 bought today at $1.30 offers. SFLY remains an attractive asset for a takeover, and could end up finding other buyers, though the Board recently said it plans to remain independent.
Motorola Solutions (MSI) strong today after two days of weakness giving up its earnings move, and 1,000 April 2015 $67.5/$60 bull risk reversals open at a $0.55 credit.
Belmond (BEL) unusual buyer of 1,000 December $10 calls at $1.10 to open yesterday, ITM calls after shares were volatile post-earnings. The $1.35B Hotel/Resort Co. trades 2.27X Sales and 1.34X Book. BEL also has 5,000 March 2015 $10 puts in OI that were sold to open. BEL shares are in a falling wedge on the weekly, and above the trend line and 8 week EMA at $11.75 would trigger a buy signal. ong>November 7th, 2014
November 6th, 2014
Lyondell (LYB) shares holding above recent lows and the March 2015 $100 calls are bought 8,000X to open at $1.61, look to be rolling out of Jan. 2015 $100 calls
Polaris (PII) now trading 4X daily calls with 500 each of the December $155 and $160 calls bought
Voya Financial (VOYA) buyer of 3,000 Dec. $39 calls $1.55 offer, rolls out of November $39 calls
Horizon Pharma (HZNP) buyer of 3,000 Feb. 2015 $14 calls at $1.65, closes out 2,000 November $10 calls $3
November 5th, 2014
S&P (SPY) December $215 far OTM calls with 50,000 bought at $0.14 and now over 350,000 are trading, and these serve virtually no purpose as hedges, so lottery tickets, likely catalyst being European and China stimulus kicking in like Japan recently performed.
Infinera (INFN) bulls look to be adding to positions with the stock off 5.5%, coming off a great quarter and big rally, the Jan. 2015 $13 calls with 5,000 trading $1.25 to $1.35, look to add to a recent buy of 5,000.
Green Dot (GDOT) unusual buyer of 900 March 2015 $22.50 calls $2.65 offer after 1,000 bought to open on 10-31
Medtronic (MDT) buyer of 5,000 Feb. 2015 $70 calls $2.18, rolls out from Jan. $67.50 strike. MDT shares are breaking to new highs after Covidien (COV) posted a strong quarter, a Company it is merging with, and MDT already with sizable upside call OI. MDT also with a roll of 5,000 Jan. 2015 $70 calls to Feb. 2015 $70 calls where 10,000 now bought.
November 4th, 2014
Halliburton (HAL) buyer of 2,000 April 2015 $57.50 calls at $2.02 offer with the stock off 5.5% and Baker Hughes (BHI) with a buyer of 2,000 April 2015 $57.50 calls at $1.64 with the shares off 3.9%.
Kellogg (K) opening buy of 7,500 Jan. 2015 $65 puts at $2.55, closes out 5,000 December $67.50 puts $4.10
Athersys (ATHX) opening buy of 2,000 April 2015 $4 calls $0.45/$0.50 offers
UAL Corp (UAL) opening buy of 10,000 Jan. 2015 $57.50 calls at $3.20, and earlier a buyer of 3,000 March 2015 $57.50 calls at $5.42 that rolled out of December $47 calls
November 3rd, 2014
Dover (DOV) trading 4,150 calls in the first hour, running 30X average, and 30 day IV is up 16.9%, shares popped off the lows this morning. Buyers are active for 2,200 November $80 calls and 1,300 of the November $85 calls. The $13B Industrial trades 15X Earnings, 1.6X Sales and 3.39X Book with a 2% yield.
Deere (DE) shares down today and 3,000 November 28th (W) $83 puts are bought to open at $1.21 to $1.25, bearish flow continues in the name, earnings on 11/26.
Medivation (MDVN) a consistently strong Biotech and today a buyer comes in for 3,000 Jan. 2016 $120 calls at $17.75, a $5.325M position, and closes out 2,700 of the Jan. 2016 $82.50 calls.
Bristol Myers (BMY) opening buy of 7,500 Jan. 2016 $57.50 puts at $6.45 today, looking to fade the recent surge in shares
October 31st, 2014
Large cap Energy plays seeing OTM calls opened in December. Exxon (XOM) block of 10,000 December $100 calls at $0.48, Chevron (CVX) block of 10,000 December $125 calls $0.52, and Conoco (COP) with 10,000 December $77.50 calls at $0.41.
Qlik Tech (QLIK) November IV jumping as 3,000 Nov. $27 calls are bought $1.85 offer
Neurocrine (NBIX) shares falling and trading 20X daily puts as 4,000 Jan. 2015 $17/$10 put spreads are bought to open $2.60, bearish position after shares reached a high this morning, and now fading.
Crown Castle (CCI) buyer of 4,000 Jan. 2015 $82.5/$90 call spreads at $1.35 with shares down 4.8% at $79.25 on earnings. CCI also buyer of 5,000 Nov. $80 calls to open $1.20, closes 6,500 of the Nov. $85 calls
October 30th, 2014
Zebra Tech (ZBRA) buyer of 4,000 November $75 calls $1.50 to open, closes 2,000 November $65 calls $7.10 that were bought to open at $2.50 on 10-13, catching the bottom well. ZBRA closed lower last report after closing higher the prior 3 reports. The $3.62B Co. trades 17.84X Earnings, 3.2X Sales and 3.44X Book with double digit EPS growth.
Chart Industries (GTLS) down 8.5% on weak earnings but trades 3X daily options as 500 Jan. 2016 $40 puts sell to open $6.60 and 1,000 June 2015 $50 calls buy at $3.65. GTLS now has a $1.4B market cap at 13.2X Earnings, 1.2X Sales and 1.66X Book.
Best Buy (BBY) ITM November $30 calls are bought 1,650X to open at $3.10. BBY also with 4,025 November $32.50 calls being bought to open $1.80 to $1.90, bullish action, shares upgraded earlier and reports on 11/20.
Entergy (ETR) with 6,000 December $87.50 OTM calls bought, seeing OTM call buying in a few utilities today, a group that M&A has been active.
October 29th, 2014
C&J Energy (CJES) on the move trading 7X daily calls with 2,400 November $18 calls bought $1.65 to $2 ahead of earnings after the close, one of the many beat down Oil related names.
Google (GOOG) large buys to open for 2,000 December $580 calls at $5.10 to $5.50, nearly $1M call premium bought. GOOG shares have been recovering strong since trading down to support after earnings. Action continued to come into these with 3,000 trading by Noon.
Toll Brothers (TOL) buyer of 25,000 Jan. 2015 $34 calls at $0.80 to $0.85, roll out from 35,000 December $36 calls
Applied Materials (AMAT) opening buy of 5,000 April 2015 $20 calls at $2.66, will report earnings on 11/13
October 28th, 2014
GlaxoSmithKline (GSK) opening buyer of 3,500 Feb. 2015 $47 calls at the $0.90 offer as well as 2,000 Jan. 2015 $45 calls at the $1.30 offer, trading 3X daily calls, the underperforming Pharma may become an activist target.
Toll Brothers (TOL) opening buys of 3,000 December $34 calls at $0.70/$0.75 offers,, a name with more than 35,000 of the Dec. $36 calls in OI.
KAR Auction Services (KAR) unusual buyer of 3,000 November $30 calls at $1.30, 10X daily and reports on 11/4. KAR has closed higher on earnings the last 3 reports.
HCA Corp (HCA) big buyers of 6,500 November 14th (W) $70 puts at $1.55 to $1.70, shares reversing off highs after announcing earnings and a $1B buyback
October 27th, 2014
AIG buyers of 2,450 Feb. 2015 $50 calls at $3.85 offers today, comes ahead of 11/3 earnings. AIG shares are red today but the Insurance ETF is one of the strongest in the market today.
Informatica (INFA), a stock that showed strong price-action despite disappointing earnings, trades 1,000 Jan. 2016 $40/$30 bull risk reversals to open today, a stock considered the next likely buyout target after the TIBCO (TIBX) deal in that industry,
Finisar (FNSR) opening buys of more than 3,000 December $17 calls at $0.80 offer, a name that has seen a lot of December and Jan. 2015 call accumulation.
October 23rd 2014
PAREXEL (PRXL) with 1,200 December $65 calls bought to open $2.50 to $2.60, trading 25X daily calls ahead of 10/29 earnings. PRXL was a top small cap pick for this year and the $3.48B biopharmaceutical outsourcing Co. trades 20X Earnings and 16.2X FCF with strong growth, and trading right near a new high.
Chicago Bridge & Iron (CBI) buyer of 5,000 Jan. 2015 $55 calls at $2.90 as 2,000 of the Jan. 2015 $47 calls are sold to close $7.64, shares a bit higher despite posting weak revenues.
Burger King (BKW) trades 5,000 November/December $30 put calendar spreads at $1.15, earnings late October, but puts been rising in BKW due to concerns Tim Horton’s (THI) deal falls apart.
October 22nd, 2014
Boeing (BA) weak response to earnings reversing from up more than 2% to down 3%, price-action that may be indicating we are at a peak for jet demand, and seeing buyers active for 2,800 Feb. 2015 $120 puts today.
Monsanto (MON) bearish spread with shares well off recent lows, the November $115 puts bought 6,000X at $2.62 and the Jan. 2015 $115 calls sold 4,000X at $3.26.
NPS Pharma (NPSP) buyers of 1,225 February 2015 $36 OTM calls $2.10, speculative plays looking for Shire (SHPG) buyout
ï»¿Hill-Rom (HRC)ï»¿ unusual opening buy of 1,400 December $45 calls at $1.55 with shares set to report on 11/5, already trading up near 2014 highs. The $2.45B provider of hospital equipment trades 16.57X Earnings, 1.49X Sales and 2.95X Book with a 1.43% yield. Care Fusion (CFN) was recently acquired in a $12.2B deal by Becton Dickinson (BDX), so HRC may be another name someone is looking at for ana cquisition.
October 21st, 2014
International Paper (IP) with buyers of 2,400 ITM December $48 calls at $2.41 this morning, and also seeing 10,000 Jan. 2015 $45 short puts rolled up to the $49 strike, which were part of bull risk reversals with the $49 calls back in early September.
Colgate (CL) reports 10/24 before the open and a spread today trades 2,750 each of November $65 calls ($1.43) and May 2015 $65 calls ($3.38), both legs trade mid-market, potential calendar spread. CL has closed lower its last 4 reports.
Wells Fargo (WFC) trading 12,000 November $50 calls with buyers at $0.78, accumulation of 20,000 already in OI from the past week. WFC shares were down sharply into earnings and now with housing strength shares are recovering.
Coca Cola (KO) big buyers step in for 7,500 October 31st (W) $40 calls to open $1.08 offer
October 20th, 2014
Clovis Oncology (CLVS) buyer of 3,000 November $50/$70 call spreads at $4.20
Deckers Outdoor (DECK) buyer of 1,500 November $90/$100 call spreads ahead of 10/23 earnings
Rice Energy (RICE) Jan. 2015 $25 calls bought 12,500X at $2.20, looks to close 15,030 of the $30 calls
Linn Energy (LINE) has bounced around 20% off recent lows but buyers come in here for 3,500 April 2015 $23 puts at $2.65/$2.70 offers
October 17th, 2014
PennyMac (PMT) large buyer 3,000 November $20 calls $1.25/$1.30, trading 150X daily call volume with the trade. The $1.53B mortgage investment Co. trades 7.55X Earnings and 0.97X Book with an 11.8% yield. PMT may be getting a lift from the falling mortgage rates. On 10-10 Piper started shares Neutral with a $23 target.
Mylan (MYL) is trading 2X daily calls early with 2,000 each of the November $52.50 and $55 calls bought, shares rebounding strong this week and in early October upped its outlook, earnings on 10/30. There also has been some talk that TEVA could take a look at MYL for a game-changer acquisition.
Dow Chemical (DOW) trades 10,000 November $49/$43 bull risk reversals at $0.15 debit, and after recent accumulation of over 25,000 November $45 calls
US Steel (X) big buyer of 3,000 November 7th (W) $33 calls at $3.05 offer, reports on 10/28
October 16th, 2014
Visteon (VC) buyer of 2,500 Jan. 2015 $90 calls at $4.70, looks to be closing out some Dec. $110 and Jan. $105 calls. The $3.72B auto parts Co. trades 0.52X Sales, 2.98X Book and 7X trailing earnings.
Dish Network (DISH) November $60 calls hot with buyers at $2.80 to $2.95, a day after 6,000 of these calls bought to open. DISH remains a prospective M&A name and now testing its low from April providing a nice entry.
Assured Guaranty (AGO) trades 3,200 April 2015 $23/$18 bull risk reversals at $0.33 debit
October 14th, 2014
Express (EXPR) buyer pays $1.30 for 4,000 Jan. 2015 $15 calls, stock trying to double bottom with the $14 low and was reported to be in the sights for Private Equity.
BE Aerospace (BEAV) large spread in Jan. 2015 sold 5,000 of the $65 puts at $2.66 and bought 5,000 of the $85/$95 call spreads at $1.56, net credit on the spread.
Air Gas (ARG) with another 1,000 Jan. 2015 $115 calls bought $1.25 to open
Home Depot (HD) well off its lows after a downgrade this morning and 4,500 October $91 calls bought just before Noon at $0.64 offers in large lots, expecting a three day bounce, likely housing data this week a catalyst.
October 13th, 2014
Sumitomo Mitsui Financial (SMFG) trading unusual options action today as 13,500 April 2015 $7.50 puts are sold to open at $0.50. The $54.1B Japanese Bank trades 8.37X Earnings and 0.77X Book with a 6.24% dividend yield. SMFG recently sought to raise its stake in Bank of East Asia and is considered a top bidder for Citi’s Diners Club card business in Japan.
Petrobras (PBR) earlier with 10,000 November $21/$24 call spreads bought at $0.76, and now a large buy of 15,000 December $18 calls spread vs. a sale of November $12 puts at $0.39.
Citi (C) green and going for day highs ahead of earnings tomorrow, and a block of 7,500 Jan. 2015 $50 calls bought at $3, also 4,000 December $50 calls bought today
Shutter Stock (SSTK) trading 35X daily calls as a trader bought 1,000 November $70/$85 call spreads at $2.65
October 10th, 2014
MasterCard (MA) spread sold 3,350 Jan. 2016 $62 puts and bought 3,350 Jan. 2016 $72/$82 call spreads, net cost of $0.00 for the spread, and in this case was rolled from Jan. 2015. The $83.2B Co. trades 20X Earnings, 9.35X Sales and 26.7X FCF with 15%+ EPS growth.
Golar LNG (GLNG) trades 5,000 Jan. 2016 $60/$40 bull risk reversals at $3.30 debit
Morgan Stanley (MS) with opening buys of more than 15,000 Jan. 2015 $37 calls at $0.60 to $0.62 as shares test the 20 week EMA and trend support off April and August bottoms, earnings on 10/17, and has seen substantial call buying recently.
Conoco Phillips (COP) buyer of 5,000 November $67.50 puts $1.15 offer, more than $540K put premium bought, and aligns with the Chevron (CVX) put buying.
October 9th, 2014
Energy Transfer (ETE) buyer of 2,500 October $57.50 calls $1.40 offer and Energy Transfer Partner (ETP) buyers of 3,500 October $67.50 calls $0.40, both names have seen large longer term calls accumulated and could set up for a Kinder Morgan type deal.
Actavis (ACT) buyer of 500 November $250 calls $11 offer, also trades 480 Dec. $255/$235 bull risk reversals, bullish trades piling up in this name as shares flag tightly.
Aruba Networks (ARUN) opening buy of 2,000 November $22 calls at $1.15 to $1.20, and a recent large roll to 5,000 April 2015 $24 calls.
Perrigo (PRGO) with 815 Jan. 2015 $160 calls bought $5.20, a name not to be forgotten as a likely M&A name, whether as the acquirer or the acquired
October 8th, 2014
Signet (SIG) with 1,350 November $115 calls bought to open at $2.40, a name that has not shown much weakness. The $9.1B jewelry store Co. trades 17.1X Earnings, 1.98X Sales and 3.39X Book.
Outer Wall (OUTR) trading 2X daily puts with 3,000 November $50 puts bought to open $1.70/$1.75, bearish action with shares taking out the July lows.
NXP Semi (NXPI) buyer of the November $67.5/$72.5 call ratio spread 2,500X5,000 at $0.50 debit, earnings on 10/22
Dow Chemical (DOW) buyer of 4,000 November $50 calls $1.25 and large action comes in buying as more than 14,000 trade
October 7th, 2014
Salix (SLXP) spread sold 1,000 Nov. $130 puts $3.50, bought the Nov. $155/$175 call ratio spread 1,000X2,000 at $4.30, pro-trade, likely seeing potential for a deal at $175.
Applied Materials (AMAT) more bullish action as 4,000 April 2015 $22 calls buy to open $1.38 offer, more than $600K call premium bought in it this morning.
Limited Brands (LB) bearish action with 2,000 Oct. $65 puts bought $0.65 to $0.85 ahead of same store sales
Interxion Holdings (INXN) buyer of 5,000 Jan. 2015 430 calls at $1.65/$1.70 as the October $30 calls close at $0.15, buying more time.
October 6th, 2014
Universal Display (OLED) trading 7X daily puts with 5,000 November $30 puts bought to open $1.45 to $1.55. OLED will next report earnings in early November. The $1.53B flat-panel display Co. trades 20.6X Earnings, 3.4X Book and 31.2X FCF with no debt. OLED has 9.13M shares short, 26.8% of the float, and the timing of the puts today is interesting considering another display Co. filed for bankruptcy, also one often rumored to be in Apple products.
Southwestern Energy (SWN) trades 3,000 Jan. 2016 $40/$30 bull risk reversals to open. SWN saw a lot of November call buying last week as well. Range Resources (RRC), another natural gas play, also trading 3,000 Jan. 2016 $75/$57.50 bull risk reversals. Natural Gas is near support and could be the seasonal trade if weather turns cold faster than anticipated.
Constellium (CSTM) shares hammered since announcing a $1.4B deal for Wise Metals and today longer term action attracting over 2,000 February 2015 $21 calls bought to open $1.85. The $2.3B metals Co. trades 9.6X Earnings, 0.53X Sales and 24.7X FCF.
October 3rd, 2014
YUM Brands (YUM) traded 2,500 November $70/$65 bull put spreads yesterday ahead of 10/7 earnings, and also opened another 2,500 April 2015 $72.5/$65 bull risk reversals. YUM shares have been flat for weeks and the China issues are well known at this point, and potential for it to spin-off its China assets to unlock shareholder value, so overall seeing bullish positioning into earnings next week.
Receptos (RCPT) with a large bullish spread for a Biotech already trading near highs, the December $50 puts sold to open 1,000X at $2.94 and the December $70/$85 call spread bought 1,000X at $5.94
Integrated Devices (IDTI) buyer of 4,000 March 2015 $16 puts at $1.72, closes out 4,000 of the November $14 puts at $0.32. IDTI Nov. $16 puts are bought 10,000X to open here as well at $1.10
EMC opening buy of 5,000 October 24th (W) $30 calls at $0.42. HPQ holds an Analyst Day on 10-8 and could combine about the merger it reportedly attempted with EMC. EMC Corp (EMC) now with an opening buy of 30,000 April 2015 $31 calls at $1.125, looks to be closing 30,000 Jan. 2015 $31 calls
October 2nd, 2014
Darling International (DAR) trading 12X daily calls as 4,000 October $19 calls buy to open at $0.30 offer and 30 day IV jumps over 25%. DAR shares are moving strong today up 2.5%, and the $3B Co. trades 14.75X Earnings and 1.48X Book.
Actavis (ACT) spread bought 1,000 May 2015 $250/$300 call spreads at $16 and sold 1,000 May 2015 $215 puts at $12.20
Vulcan Materials (VMC) with an opening buy of 5,000 November $60 calls at $2.15 offer, nearly $1M call premium purchased. VMC shares are re-testing the prior breakout from late 2013 and looking to possibly form a base around this $58 level.
North-Star Asset Mgmt. (NSAM) buyer of 2,500 December $20 calls $0.45/$0.50 offers with shares putting in a reversal hammer today off familiar support.
October 1st, 2014
American Air (AAL) fighting back and 10,000 October $35.50 calls buy to open
Texas Roadhouse (TXRH) bounces after more than 2,400 December $30 calls are bought at $0.50, a recent breakout name in the hot restaurant space.
Borg Warner (BWA) buyer of 1,800 Oct. $55 calls $0.40 offer. BWA a $12B auto parts Co. at 13.26X Earnings, 1.5X Sales, 3.1X Book with 0.99% yield and 15%+ EPS growth, shares down 15% in a month
Finisar (FNSR) bullish action as 2,350 November $17 calls are bought to open at $0.85. FNSR shares are -30% YTD and trade 11.3X Earnings, 1.36X Sales and 1.56X Book with a strong balance sheet.