August 21st, 2014
Cornerstone On-Demand (CSOD) with an unusually large spread that buys 1000 November $40 calls at $2.40 to $2.50 and sells 500 November $35 puts to open $2.85 to $2.90. CSOD shares are trying to double bottom on the weekly with the May low. The $1.96B cloud-based talent management solutions Co. trades 8.8X Sales and at this market cap with shares -31.2% YTD, could be a buyout target. On 5-21 FBR started shares Outperform with a $48 target.
Yahoo (YHOO) active trades in October with the $40/$43/$46 butterfly call spread 25,000X50,000. YHOO shares are consolidating above the recent $37 breakout and looks to be positioning for the Alibaba IPO
Adobe (ADBE) buyer of 2,000 ITM October $70 calls at $3.65 offer
Now Inc. (DNOW) unusual buys of 830 November $35 calls at $1 offer. The $3.48B Energy and Industrial products Co. trades 0.83X Sales and 1.78X Book, a recent spin-off of National Oilwell (NOV).
August 20th, 2014
China Cache (CCIH) unusual buyer of 1,000 February 2015 $22.50 calls at $1.15, aggressive on wide bid-ask. CCIH shares have a nice weekly double bottom above $12. The $355M Chinese web content/services Co. trades 32.3X Earnings, 1.97X Sales and 2.97X Book.
Qualcomm (QCOM) first day of strength in weeks and up 1.65%, also seeing a lot of bullish options flow all day, trading 29,000 calls to 7,885 puts with 67% offer side call buys, more than $690K call premium and +515K Net Delta. Most notable 12:09pm a large sweep of September 12th (W) $77 calls with more than 4,000 bought to open at $0.52 offers.
Target (TGT) with 5,000 October $60 puts bought at $1.80 as shares rallied on weak results/guidance
Autodesk (ADSK) with another 10,000 October $57.50 calls coming in as buys $1.08 to $1.18, looking to add to the recent 10K buy
August 19th, 2014
Cameron (CAM) block of 10,000 February 2015 $75 calls bought to open $3.64, stock replacement. CAM is the 6th largest holding for JANA Partners and Viking Global also has a large stake.
RF Micro (RFMD) trade closes 16,000 January 2015 $11 calls at $1.75 and buys 22,000 January 2015 $12 calls to open at $1.25
Ubiquiti Networks (UBNT) large spread buys 2,000 December $46 calls at $5.20 and sells 2,000 Jan. 2015 $55 calls at $2.25
Sohu.com (SOHU) trading 6X daily calls with 3,000 September $60 calls bought to open at $2.95 to $3.50, 30 day IV up 8%, and shares on the move after a multi-month base above the $55 level. The next level of resistance for SOHU is $66. The $2.32B Chinese Internet Co. trades 1.59X Sales, 1.82X Book and has a healthy cash holding. On 7-24 Citi started shares a Buy with a $66 target.
Generac (GNRC) with 10,000 November $55 calls bought to open $0.90 to $1, and follows recent buy of 10,000 November $52.50 calls
August 18th, 2014
Vantiv (VNTV) stock and IV jumped as 1,000 September $33 calls bought to open $0.60 to $0.70, trading 15X daily calls. The $6B payment processing Co. trades 14.55X Earnings and 18.3X FCF with a strong 15%+ EPS growth outlook. BMO raised to Outperform on 8-1 with a $39 target. VNTC shares are in a strong uptrend and look to be putting in a higher base above $31.50.
Nucor (NUE) with over 6,000 October $55 calls bought at $0.76 to $0.80, though calls active early last week and saw no additions to OI. NUE is breaking out past trend resistance today.
Kate Spade (KATE) with an opening buy of 5,000 September $33 calls at $0.95 as shares climb back since being crushed on earnings.
Apollo (APO) shares jumping off lows here as 2,000 December $22.50 calls buy to open at $2.40/$2.45, ITM buyers
August 15th, 2014
Lowe's (LOW) September $50 calls bought to open 8,000X at $1.31 to $1.35 ahead of earnings on 8/20, a name that has previously seen the September $48 calls opened 8,000X from August rolls and broke out at $48.50, a move that targets a run to $52.50. LOW shares have closed higher on earnings 3 of its last 5 reports.
S&P Mid-Cap 400 (MDY) with 8,000 of the September $255 calls bought to open this afternoon $2.65 to $2.70 offers, more than $750K call premium purchased. MDY is trading 6X daily calls with the action.
Goldman Sachs (GS) with 2,000 of the August 29th (W) $175 calls bought to open at $1.03 offer just before 11am, now trading closer to $0.95, looking for shares to recover
Southwestern Energy (SWN) another name trying to find support in a weak group and big buyers come in for 5,500 September $40 calls at $0.73 offers, trading 3X daily calls. SWN now trades 15X Earnings and 3.39X Book.
August 14th, 2014
Baidu (BIDU) large buyer 2,055 Jan. 2016 $280 calls at $19
Occidental Petro (OXY) with more than 30,000 January 2015 $110/$120 call spreads bought at around $1.20, looking for upside from monetization of assets the remainder of the year.
Analog Devices (ADI) unusual buys of 1,175 Jan. 2016 $60 calls at $1.70 to $1.75 with shares trading $50.65. ADI has pulled off more than 10% from recent highs, and the $15.87B Semi trades 18.58X Earnings, 5.93X Sales and yields 2.93%.
Time Warner (TWX) unusual action continues as many still see a bid for the Company coming, or it making its own bid for another media Co. The Aug. 22nd (W) $76 calls bought 3,000X to open at $0.98 to $1.02 interesting.
Autoliv (ALV) with 1,860 December $110 calls bought $1.60 offer, 8X ADV, and Auto Part M&A expected to pick-up, also an inversion target
August 13th, 2014
Marathon Petro (MPC) with 5,000 September $90 calls bought at $1.55 to open and Valero (VLO) with 5,000 September $52.50 calls bought to open at $1.
Canadian Solar (CSIQ) now up 18.9% on earnings and traders see more as 2,300+ January 2015 $30 calls buy at $4.50 to $4.90 offers, more than $1.2M call premium bought in it today
Aecom (ACM) with 3,800 December $32.50 puts bought to open $1.25 offer, trading 30X daily puts for $425K put premium, and the Street looks to have completely overlooked this major litigation impact in Australia that was released in a PR this morning that will impact results
NPS Pharma (NPSP) potential for a double bottom and 1,200 September $29 calls bought at $1.40 to $1.70 to open
August 12th, 2014
21st Century Fox (FOXA) with 4,500 September $35 calls bought at $0.90 to $1.05, the large block of 4K traded $1.05, a name that Value-Act just added a $1B stake in
Cenovus Energy (CVE) shares attempting to base above $30 and trades 10X daily calls as 3,500+ September $30 calls trade to open at $1.05 to $1.10 offers. On 6-12 a trade sold 7,500 December $25 puts at $0.15 and bought 7,500 December $35 calls at $0.45. The $23.3B Oil & Gas Co. trades 17.27X Earnings, 1.32X Sales, and 2.51X Book with a 3.18% yield.
MGM January 2015 $24 puts are sold to open 20,000X at $1.58/$1.59 and the January $27 calls are bought 10,000X at $1.01. Trades active in January $30 calls and $25 puts as well, but appear to be closing.
AMC Networks (AMCX) action in March 2015 $50 calls trading 775X, a name seen as a candidate for an acquisition in Media consolidation push
August 11th, 2014
Schlumberger (SLB) with a nice base formed last week and moving out past trend resistance today and trying to clear the 20 day EMA. A large trade bought 2,000 September 26th (W) $108 calls at $4.30 offers to open.
Under Armour (UA) buyer of 1,000 September $72.50 calls at $1.25 offer to open
Mellanox Tech (MLNX) spikes as 1,050 December $46 calls buy to open $3.10
Marvell (MRVL) running after 4,500 Aug. 29th (W) $13.50 calls bought $0.28 to $0.30, earnings 8/21
August 8th, 2014
GameStop (GME) shares remaining weak since news of the EA streaming games and today 3,000 January 2015 $38 puts are bought to open $3.80 to $3.90 offers, more than $800K put premium bought, and will report earnings on 8/21.
Delta (DAL) August 29th (W) $36.50 calls bought 3,500+ to open at $0.81 offer here on weakness with shares down 2.25% to $34.84
Kellogg (K) large buyers of 2,400 September $65 calls at $0.90, IV jumping
August 7th, 2014
Insulet (PODD) September $40 calls buy 1,200X to open at $1.15, news earlier this week on an agreement with Dexcom (DXCM). The $1.96B maker of insulin systems is trading 15X daily calls today, unusual activity. PODD was mentioned as a potential takeover target for Abbot (ABT) on 7-16 by Bloomberg M&A.
Lowe's (LOW) with a buyer of 3,000 September $48 calls at $1.48 offer, closed August $47 calls 3,000X, and 4,000 of these Sep. $48 calls added to OI yesterday on a roll as well.
Teekay (TK) opening buy of 2,500 October $55 calls $2.10 to $2.20, shares already 4 points of initial lows on earnings. The $3.95B Oil & Gas shipper trades 31.25X Earnings and 3.42X Book with a 2.3% yield.
American Air (AAL) buyer of 5,000 OTM November $43/$48 call spreads at $1 with shares at $37.85, expecting the 38.2% Fibonacci touch from yesterday to mark a low and for shares to head back to highs.
August 6th, 2014
Honeywell (HON) opening sales of 4,000 September $87.50 puts at $1.23 to $1.21, willing to be long one of the few Industrials that reported a strong quarter.
Dow Chemical (DOW) trading 9,500 calls the first hour, and daily average of 11,000, a name with sizable bullish OI in September. DOW traded 3,000 December $52.50 calls to open $1.95 this morning as shares try to hold its 20 week EMA.
Center Point Energy (CNP) shares down 0.5% with Utilities weak but a buyer of 20,000 September $24 calls pays $0.60 to open, aggressive buy. CNP actually posted a strong EPS and Revenue beat this morning and looking to put in a hammer reversal today.
YPF SA (YPF) IV jumping with more than 7,000 August $36 calls bought $1.25 to $1.35, a name that has coiled back nicely and makes big moves.
August 5th, 2014
Dresser Rand (DRC) rallying here after being down on earnings and 2,000 December $65 calls buy to open $1.90 to $2.10, also been strong talk of it being acquired
Skechers (SKX) continues to outperform after posting another blowout quarter and trading 3X daily calls today as 3,000 January 2015 $55 calls are bought to open at $4.40 to $4.50. The $2.68B footwear Co. trades 17.6X Earnings, 1.28X Sales and 2.67X Book.
CH Robinson (CHRW) with 7,000 September $65 calls bought to open $3.50 to $3.60 with shares forming a bull flag after a recent earnings breakout, and a name that saw notable call accumulation in August.
August 4th, 2014
Youku Tudou (YOKU) has been a laggard among the Chinese internet stocks and now back to May/June lows looking to make a double bottom. YOKU with bullish action today as 1,500 ITM December $16 calls are bought to open at $4.10. The $3.19B Co. trades 6.14X Sales and 2.22X Book. HSBC upgraded to Neutral on 5-27 with a $22 target. YOKU is a top 30 holding at some notable funds like Coatue Mgmt. and Discovery Capital.
AstraZeneca (AZN) large spread buys 10,000 Jan. 2015 $80/$90 call spreads and sells the $65 puts, net $0.35 debit for the spread, and apparently someone still feels AZN may be acquired after Pfizer's (PFE) failed attempt
Qlik Tech (QLIK) buyer of 3,000 November $27 calls at $2.60 as shares consolidate the earnings move nicely, and 1,400 November $21 calls bought ahead of earnings sell to close.
Chicago Bridge and Iron (CBI) opening buys of 3,000 October $65 calls at $1.50 to $1.60
August 1st, 2014
C&J Energy Services (CJES) shares down hard this week but trading 50X daily options as 5,000 December $35/$26 bull risk reversals are opening at net credits. CJES as potential support at $28.25 as a 38.2% Fibonacci retracement. The $1.66B Oil & Gas Equipment & Servcies Co. trades 13.9X Earnings, 1.5X Sales and 2.25X Book. CJES recently made news when it purchased the completion and production services of Nabors (NBR). On 7-22 Jefferies reiterated a Buy on CJES with a raised $40 target and on 5-5 Global Hunter upgraded to Buy with a $35 target.
Aetna (AET) pulled back big this week and now near a re-test of the major May Breakout. Traders were active on Thursday as 23,000 calls traded, 15X average, including 5,000 January 2015 $80/$90 call spreads.
Depomed (DEPO) IV jumping as 2,950 August $11 calls are bought $0.55 to $0.65
Bill Barrett Corp (BBG) shares are on lows down 10% after earnings but large trades open 2,000 March $25/$17.50 bull risk reversals at $0.90 to $1.10 debits, confident bets that this move is overdone. The $1.19B Oil & Gas Co. trades 30.4X Earnings and 1.16X Book.
July 30th, 2014
Workday (WDAY) shares 4.6% higher as we are seeing a rotation to growth stocks today and WDAY will report in late August. WDAY is trading 2X daily calls with 1,800 September $90 calls bought $3.05 to $3.20.
Hologic (HOLX) September $26 calls buy 2,200X at $1.15 offer and also buyers in the $27 and $28 calls, trading 8X daily calls with 92% offer ahead of earnings tonight after the close. HOLX shares have formed a great bull flag and closed 7.95% higher last quarter on earnings.
Soda Stream (SODA) shares up 9% on earnings and recent reports it could be acquired. A large trade today puts on 5,000 September $35/$30 bull risk reversals at zero cost.
RF Micro (RFMD) with 5,000 September $13 calls bought $0.35, rumors that TXN looking to acquire the Co. yesterday and overall RFMD has seen large bullish options positioning for weeks.
July 29th, 2014
Dollar Tree (DLTR) buyer of 3,500 August $55 calls at $1 offer as shares gave up all of yesterday's gain on the Family Dollar (FDO) deal and some
E-Trade (ETFC) September $20 calls buy 2,500X at $1.50, bigger sized Delta than Schwab (SCHW) trade. E-Trade (ETFC) opening buy of 8,000 January 2015 $23 calls at $1.35 as 4,000 of the $20 calls look to be closing and rolling up
Huron Consulting (HURN) with unusual buying of 1,550 September $70 calls at $1.40 into earnings after the close, trading 75X daily calls and aggressively bought on wide bid-ask spreads. HURN shares have closed higher 5 of the last 6 reports. The $1.52B provider of operational and financial consulting trades 17.8X Earnings, 1.82X Sales and 14X FCF and after growing EPS 81.4% in 2013 expecting 10-12% forward growth. HURN posted blowout numbers in Healthcare and Legal last quarter.
Salesforce.com (CRM) with 2,000 November $55 calls bought $4.25 offers today and follows recent buying of October $52.50 calls 3,000X, ahead of earnings in late August
July 28th, 2014
Google (GOOG) large trade sold 1,250 September $160 calls $6.80 (likely to close), and bought the January 2015 $610/$675 call ratio spread 1,000X1,250 while also selling 1,000 of the $500 puts at $6.50.
Dollar Tree (DLTR) moving off lows and 4,500 August $57.50 calls popular with large buys at $0.85 to $1.30 since touching a day low on the CSFB downgrade, option traders seeing the Family Dollar (FDO) acquisition as a positive.
RF Micro (RFMD) opening buys of 8,000 January 2015 $12 calls at $0.75 offers as bullish action keeps coming for this name
Pulte Homes (PHM) shares down sharply the last 3 days and buyers come in now for 5,500 August $18.50 calls at $0.50 offers expecting shares to recover
July 25th, 2014
Informatica (INFA) shares down 13.8% on earnings that did not look that bad to justify the move, and the 15% growth Software Co. now trading 18.8X earnings. INFA is attracting buyers of 1,000 December $30 calls at $2.40 offer, and the 2,000 short Dec. $30 puts in OI may also help rebound shares.
Tesoro (TSO) unusual spread, and a bullish one, as August $57.50 puts are sold to open and the Jan. 2015 $65/$80 call spreads are bought to open, 3000 contracts just ahead of 7/30 earnings.
Michael Kors (KORS) with 3,000+ of next week $85 calls bought $0.50 offer to open, and then another 2,000 bought taking the total above $5,000
Delta Air (DAL) next week $39 calls being bought in size with 5,400 trading, buyers paying $0.57 to $0.59 offers
July 24th, 2014
Salesforce.com (CRM) a name that has been very quiet lately but a buyer of 1,000 September $62.50 calls at the $0.62 offer, and larger Delta buys of 2,000 October $52.50 ITM calls at $4.55 to open, bullish action with earnings due out in late August.
Wisconsin Energy (WEC) buyer of 3,000 January 2015 $50 calls at $0.30, seen as a potential buyout target in Utility space
Danaher (DHR) with 2,300 December $77.50 calls bought $2.45 offer to open, stock down big since earnings but likely will announce a big acquisition by year-end. Danaher (DHR) volume has really picked up now as 10,000 of the December $77.50 calls are trading, big blocks at $2.60 and $2.65 just traded
Ann Taylor (ANN) with buyers of 2,000 September $41 calls earlier at $0.85 to $0.95, a name highlighted in Bloomberg Real M&A this morning as a likely LBO target. Golden Gate disclosed a 9.5% stake in ANN back in March.
July 23rd, 2014
Trip Advisor (TRIP) bullish spread for earnings bought 600 August $110 calls and sold 400 September $95 puts, a trade that cost $93,000 to put on, and looking for a breakout of this cup and handle pattern. A spread like this into earnings typically a good signal.
Apple (AAPL) making a strong post-earnings move and trading 670,000 calls to 300,000 puts just an hour into the day, big buyers highlighted this morning on September $105 calls at $0.70 up to $0.85 with more than 30,000 now trading. AAPL call premium bought is at $9M right now, extremely high, and a +4.4M Net Delta, one of the highest readings I've seen intraday in any name.
AngioDynamics (ANGO) buyer of 1,000 October $15/$12.50 bull risk reversals $1.10 debit into earnings and also 1,000 January 2015 $17.50 OTM calls opening $1.20 to $1.35. ANGO closed lower last report after closing higher the prior 3. The $528M medical device Co. trades 37.25X Earnings, 0.98X Book and 1.5X Sales with double digit EPS growth. Canaccord upgraded to Buy with a $20 target on 6-19.
Atmel (ATML) big buyers stepping in for 7,000+ August $9 calls $0.50 offers ahead of 8/6 earnings
July 22nd, 2014
Baidu (BIDU) August $200 calls sell to close 7,800X at $8.225 and the August $220 calls buy to open 15,000X at $2.475, taking a lot off the table into earnings on 7/24, but still long a significant position
Darden (DRI) August $44 calls buy 2,000X to open at $1 offer with stock on LOD
TE Connectivity (TEL) opening buy of 2,050 October $70 calls with stock at $64.80, and ahead of 7/23 earnings, buyers paying $0.65 for the calls and a Swiss-domiciled Co. that may be a tax inversion target
Anadarko Petro (APC) January 2016 $160 calls bought to open 7,500X around $1.50 with shares at $109, expecting major upside in this name and we have seen constant upside call buying
July 21st, 2014
Baidu.com (BIDU) shares very strong today breaking to new highs ahead of earnings, a top set-up into the week, and today a trader closes out 3,750 September $185 calls at $18.75 but stays bullish buying 3,000 December $200 calls at $17.55. BIDU also saw plenty of upside call buying last week.
InterXion (INXN) trading 20X daily calls as 1,300 October $30 calls are bought $0.55 to $0.60, looking to add to 2,764 in OI that were bought recently. The $1.88B data center Co. trades 29X Earnings, 4.4X Sales and 3.45X Book with 20% EPS growth, and as a Netherlands domiciled Co. it could make for a tax inversion takeover target.
Twitter (TWTR) shares put in a hammer on Friday that re-tested its key breakout from June, and now look positioned to rally into 7/29 earnings. Traders are active in the first 30 minutes with 7,500 August $42 calls trading, large block buys near $1.05 account for most of the action in a large sweep. TWTR shares should be able to make a run back to $42.50 highs and may move with Facebook (FB) results this week. The $21.86B Co. trades 140X Earnings, still in the early stages of monetization and the key is user engagement, and recent moves with Ads should boost results, also helped by the World Cup. On 6-26 Barclays started coverage at Overweight with a $46 target, and on 5-29 Cantor Fitzgerald upgraded to Buy.
Lannett Co. (LCI) spread sold 1,200 August $35 puts $1.20 and bought 1,200 September $40/$50 call spreads at $2 into recent weakness, a very bullish signal
July 18th, 2014
Terex (TEX) buyer of 1,000 August $40 calls at $1 offer, stock back near support, and one of the cheaper value names at 10.6X Earnings, 0.6X Sales and 1.95X Book with 25%+ EPS growth, earnings on 7/23.
Schlumberger (SLB) with a big buy of 5,000 Jan. 2016 $135/$165 call spreads at $3.35, shares recovering off lows after posting another solid quarter
NiSource (NI) trading 10X daily calls as 13,000 August $41 calls are bought at $0.25 to $0.30 offers and 30 day IV jumps more than 25%. NI has been a tease before, but seen as an acquisition target with an uptick in Utility M&A lately
JinkoSolar (JKS) trading 1.5X daily calls as 2,000 August $30 calls are bought to open $1.15 offer in a large sweep, shares forming an inverse H&S bottom.
July 17th, 2014
FMC Tech (FTI) with a buyer of 6,250 January 2015 $67.50 calls at $1.85 to $1.90 right into the bell. FTI shares are flagging below new highs and the $14.23B Co. will report on 7/22, trading 18.15X Earnings, 1.95X Sales, and 25.7X FCF with above-average EPS growth. On 7-15 SIG boosted its target to $72 and on 4-25 CMO Capital raised shares to Outperform with a $75 target.
Weatherford (WFT) trading 5,500+ January 2015 $26/$20 bull risk reversals
Ulta Salon (ULTA) with an unusual spread 3,000X as the December $105 calls were sold to open at $2.55, and September $85 puts bought at $3.60, potentially a collar on a long stock holding, but the way retail has been weak, could be a large bearish risk reversal playing for new lows.
BlackBerry (BBRY) with 20,000 of the September $12 calls seeing action, buyers pay $0.25 up to $0.29
July 16th, 2014
Envision Healthcare (EVHC) unusual buys of 1,000 August $35 calls at $1.70 to $1.85. EVHC can be seen to have a positive read-through from the HCA Corp (HCA) guidance, and a fairly attractive growth story trading 23.85X Earnings and 3.79X Book, also potential for it to separate it's multiple business units to unlock shareholder value.
21st Century Fox (FOXA) shares pulling back 2.1% after Time Warner (TWX) snubbed a takeover deal and will likely have to pay a much higher price. Into weakness a trade sells 15,000 October $33 puts at $0.85 and buys 10,000 October $36 calls at $1, so the overall view on FOXA remains very bullish. 21st Century Fox (FOXA) now trades 20,000 January 2016 $40/$28 bull risk reversals at $0.35 debit
Mid-Caps (MDY) near day lows and 10,000 August $250/$235 put spreads buy at $1.45
Macquarie Infrastructure (MIC) with a big move recently and today a buyer of 5,000 October $75 calls at $1 to open, trade is 25X daily call average. On 7-7 MIC spent $910M to acquire the remaining 50% stake of International-Matex Tank Terminals and the market cheered the deal. MIC day highs since call buy earlier and now 5,000 October $75/$65 bull risk reversals trade for a $0.30 credit.
July 15th, 2014
Motorola Solutions (MSI) breaking down and 3,500 August $65 puts bought to open $1.48 to $1.55, earnings on 8/5, and a name with 13,920 January 2015 $60 puts bought to open recently.
Valero (VLO) January 2015 $55 calls bought 4,500X at $2.41 offers, more than $1.2M call premium purchased
Cerner (CERN) shares move off day lows as 2,000 September $55 calls are bought to open at $1.05 to $1.15 on the offer, and follows action recently that bought 5,000 of the August $55 calls, a name considered by some to be a potential buyout target for IBM or Oracle.
Deere (DE) buyer of 4,800 Sep. $87.5/$82.5 put spreads at $1.26 vs. long stock buy
July 14th, 2014
Mellanox Tech (MLNX) opening buy of 1,500 September $35 calls at $3.50, large order with shares strong this morning, and more than 2,500 in September $38 call OI from former large buys as well, earnings 7/24.
Colgate (CL) breaking to new highs and the August $72.50 calls hot again with more than 8,000 bought, a name with size in the Aug. 70 and 72.50 call OI already from former large buys
Skyworks Solutions (SWKS) forming a long consolidation flag, and today a trader buys 3,500 August $49 calls $1.75 and closes out the July $47 calls at $1.90, ahead of earnings on 7/17, and SWKS already pre-announced strong numbers.
Sun Edison (SUNE) buyer of 5,000 January 2016 $25/$35 call spreads at $3
July 11th, 2014
Bed Bath and Beyond (BBBY) trading 1.7% higher on rumors it may be an activist target, and holding onto the move well with 30 day IV climbing nearly 30%, and trading 37,000 calls, 7X average and some large buys in the July $59 calls at $0.86 to $1.15, and also August $60 calls trading 8,000X including a big buyer of 4,000+ at $1.10, so not the average speculator bets, real size involved here. BBBY has seen plenty of former positioning since the move to new lows to suggest it may be a target, most notable the 6/27 Jan. 2015 $60/$52.50 bull risk reversals that opened for more than 4,000X.
Zeltiq (ZLTQ) trying to form a weekly hammer reversal above its 50 week EMA and trading 13X daily calls today as August $15 calls are bought to open $0.95 to $1.20 for 3,500 contracts. ZLTQ reports in late July and shares closed lower the last two reports after closing 32% and 40% higher the prior two reports. The $518M Co. makes fat-reduction non-invasive devices and trades 4.23X Sales, set to nearly turn a profit this year.
InterContinental Exchange (ICE) opening trade for 2,000 December $195/$170 bull risk reversals at a $0.20 debit, another bullish risk reversal for ICE as it tried to bottom.
Sun Edison (SUNE) with big opening buys of 5,000 July 25th (W) $24.50 calls at $0.75 offers. Sun Edison (SUNE) August 1 (W) $24.50 calls with buyers now as well for 4,050 contracts
July 10th, 2014
Abbott Labs (ABT) buyer of 9,000 August $41 calls at $0.92 as the July $41 calls close 10,500X at $0.62, staying bullish and extending despite earnings coming next week on 7/16
Teradyne (TER) strong move off 20 EMA today and 6,250 August $20 calls are bought at $0.85 as the July $20 calls close at $0.35.
Celgene (CELG) July 25th (W) $88.75 calls bought 2,000X to open for 7/24 earnings
Barnes and Noble (BKS) rallying as 4,000 January 2016 $22 calls are bought at $5.70, already more than 15,000 in OI from large buys recently
July 9th, 2014
Morgan Stanley (MS) tested near $31.50 support again and held, the August $32 calls active with 5,000 bought to open today at $0.84/$0.85, ahead of 7/17 earnings, and the name among the big Banks seeing consistent upside bullish bets.
EnCana (ECA) buyer of 6,250 January 2015 $23 calls at $1.60, closes same number of July $22 calls at $0.55
Adobe (ADBE) buyer of 4,150 August $67.50 puts $0.80 as stock nears a move into the large earnings gap below
Sun Edison (SUNE) buyer of 5,000 October $24/$28 call spreads at $1
Linear Tech (LLTC) breaking out past multi-week highs today and late day buyers of 10,000 August $50 calls at $0.45/$0.50 on the PHLX, opening upside plays with earnings expected around 7/22. On 5/7 LLTC with a buyer of 5,000 August $44 calls at $1.95, and that remains in OI. LLTC also with a buyer of 5,000 August $47 calls at $1.15 on 5-8 and remains in OI.
July 8th, 2014
Calpine (CPN) gaining 2.5% with Utilities a strong group on the flight to safety and trading 7,230 calls, 10X average with 95% offer side, the January 2015 $20 calls bought 3,300X at $3.70 and $21 calls 2,740X at $2.90, large opening buys.
Ally Financial (ALLY) back near lows and 5,000 December $25/$22 bull risk reversals trade for a $0.10 debit, a recent popular strategy in December options for ALLY
Delta (DAL) trading 37,000 calls into weakness the first 90 minutes, big buyers of calls as 12,000 July $36 calls now trade to open near $0.70
Beazer Homes (BZH) buyer of 2,500 August $19 calls $1.55 as shares pull back to prior breakout and trend support
July 7th, 2014
United Therapeutics (UTHR) with a bullish spread in November as 1,000 $75 puts are sold to open at $2.45 to $2.60, and the $100/$130 call spread bought 1,000X at $5.85
Coca Cola Enterprise (CCE) buyer of 1,800 August $49 calls at $0.95 to $1 to open, earnings on 7/24 with shares near a new high.
Freeport (FCX) seeing more bullish action in September with 5,000 of the September $39 calls bought in the first 90 minutes of trading with traders paying $1.38 to $1.42 offers for more than $570K call premium bought
KLA Tencor (KLAC) buyers of 3,500 July $75 calls $1.30 offer into SEMICON. KLAC also could be a mover on Samsung update and Intel (INTC) earnings. KLAC was an Option Radar highlight on 6-10 when 2,150 Jan. 2015 $80 calls bought to open, and action remains very bullish.
July 3rd, 2014
Joy Global (JOY) rallying as 1,750 August $62.50 calls are bought to open at $1.48 to $1.50 and 550 July 25th (W) $60.50 calls at $2.17 to 2.20. Coal names have been turning around which typically translates into JOY moving higher, and also always the potential for M&A in this name.
Qualcomm (QCOM) ITM October $77.50 calls bought 3,850X into this strength
Morgan Stanley (MS) will report on 7/17 and August $33 calls hot this morning with 2,900 bought, trading 73% of its 4,355 calls the first 30 minutes on the offer
July 2nd, 2014
Akorn (AKRX) unusual opening buys of 1,800 September $40 calls at $0.70 to $0.75, a name that has been hot and generic M&A expected
Tenaris (TS) with 3,000 September $50 calls bought today at $0.90, trading 16X daily and 30 day IV up 13.7%, and this after 1,900 August $50 calls bought to open yesterday. The $27.65B Steel Pipe Co. trades 14.93X Earnings, 2.63X Sales and 2.18X Book with a 2.56% yield and 8-12% EPS growth.
Penn Virginia (PVA) August $17 calls bought to open 3,500X at $1.31 to $1.33 as July $16 calls close, a name that Soros is pushing to sell itself
Noble Energy (NBL) opening buy of 5,160 November $77.50 calls at $3.75, stock replacement
June 30th, 2014
Cameron (CAM) trading 2,000 Jan. 2016 $80/$57.50 bull risk reversals, 5th largest holding at JANA Partners
Royal Dutch Shell (RDS.B) looking to take out recent highs and trades 10X daily calls as 2,390 October $90 calls are bought to open at the $1 offer at the CBOE, bullish action, and a name seen to be selling assets this year.
Expedia (EXPE) buyer of 2,750 August $85 calls at $2.40 offer after large October $95 call buys last week, bullish action continues
Apple (AAPL) September $105 calls bought in size lots early with 8,000 trading first 5 minutes at $0.80. AAPL traders now paying $0.85 for the Sep. $100 calls with another 4,000 bought.
June 27th, 2014
Take Two (TTWO) trades 2,500 January 2016 $25/$17 bull risk reversals to open at a $1.25 debit, longer term bullish outlook with a strong recovery underway in video games
E-Trade (ETFC) opening buys of 2,500 August $20 calls at $1.85 to $1.90, bullish action with shares coiled back and looking to make another run at the $22 level for a break to $23.
Bio Delivery (BDSI) buyers of 4,000 July $12.50 calls at $1.05 to $1.15 as 1,500 of the $10 calls close
King Digital (KING) now trading 5,000 July $18 calls at $0.40 to $0.60 offers with 30 day IV climbing 16.5% in the first 45 minutes of trading
June 26th, 2014
Dish Network (DISH) with 2,000 of the July 3 (W) $64 calls bought to open $1.15 to $1.30, and also the August $65/$60 bull risk reversal trades 2,000X to open at a $1 debit.
Dick's Sporting Goods (DKS) with 4,000 July $45 calls bought at $0.80 as IV jumps sharply, shares still basing from the earnings weakness, and already 6,873 in OI for these calls from a buyer of 5,000 in late May
Dresser Rand (DRC) large buy of 7,500 July $65 calls at $0.50, a name long considered a buyout target since the Lufkin (LUFK) deal
Barnes and Noble (BKS) trades 5,000 January 2016 $22 calls $5.10, mid-market, and over 8,000 of these recently bought to open, will confirm OI change tomorrow. Barnes and Noble (BKS) also trades 5,000 January 2015 $24/$20 bull risk reversals to open at $0.70 debit.
June 25th, 2014
JP Morgan (JPM) strong bounce off its 20 day EMA and 4,932 August 1st (W) $57 calls are bought to open $1.14, rolled from this week $56.50 calls closed at $0.93, and earnings due out on 7/15
National Oilwell Varco (NOV) November $90 calls bought 5,500X to open at $0.78 in one block, trading more than 6,500X
Halliburton (HAL) July $70 calls being bought in size to open here as 5,500 trade $1.18 offer with Schlumberger (SLB) shares rallying sharply today after providing guidance at a conference
YUM Brands (YUM) trade closes 4,000 July $72.50 calls with shares breaking out to new highs and opens the January 2015 $82.5/$75 bull risk reversal 2,000X2,500
June 24th, 2014
International Gaming (IGT) buyer of 3,550 August $16 calls $1.40, closes 5,000 July $16 calls $0.80, expecting the buyout to take some more time
Raptor Pharma (RPTP) aggressive buyer of 1,500 February 2015 $15 calls at $2.65 to $2.70 to open in a sweep
Walgreen (WAG) with the October $72.50 calls sold to close 61,685X at $4.13 and August $72.50 calls bought to open 68,000X at $3.10 offer with shares off 2% on earnings. Earlier the August $85 calls bought to open 10,000X, and seen as a tax inversion play for the eventual Alliance Boots full takeover.
General Motors (GM) opening buys of more than 8,000 August 1st (W) $37.50 calls at $0.82, earnings date is 7/24
Hess (HES) shares down 1.9% with Energy weak but August $105 calls hot today with more than 5,500 bought at $0.51
Chico's (CHS) with a sharp rise in IV as more than 5,000 July $18 calls are bought to open at $0.20 offers. On 6/9 FT reported that Chico's held talks with Private Equity firms regarding a buyout.
June 23rd, 2014
Deere (DE) quietly trading 700 December $95/$87.50 bull risk reversals
Vertex Pharma (VRTX) buyer of 3,000 July $90/$105 call spreads at $2.20 ahead of expected key Phase 3 data that may come as soon as this week
Perrigo (PRGO) opening buys of 1,050 August $155 calls at $2.90 offer
Oracle (ORCL) with a buyer of 5,000 January $42 straddles at $5.27
June 20th, 2014
Dollar General (DG) large covered bullish risk reversal, sold 5,000 January 2015 $57.50 puts to open $2.80/$2.85 and bought 5,000 January 2015 $62.5/$70 call spreads to open at $3.10.
Emerson Electric (EMR) with 5,000 September $70 calls bought to open at $1.30 after recent July call accumulating, bullish action with shares set to break out on the weekly, a name that could make an acquisition
Goodrich Petro (GDP) buyer of 5,000 September $27.50 calls at $4.70 offer, a strike that has seen prior accumulation, as trader closes 5,000 June $22.50 calls at $6.45
Molson (TAP) more bullish action, single buyer of 1,000 October $80 calls at $2.20 and October $77.50 calls bought 700X at $3 offers
June 19th, 2014
Move Inc (MOVE) with 1,500 July $15 calls bought to open at $1 to $1.10, rumors that Trulia (TRLA) may take it over earlier this week at $18/share, and makes some sense with prior positioning seen.
Assured Guaranty (AGO) October $27/$31 call spread bought 10,000X at $1.19 as 12,500 of the July $26 calls are sold to close, also the July $27 calls bought to open 8,000X in a block at $0.59/$0.60
Chicago Bridge and Iron (CBI) fighting back from the short-seller research that hit shares and a large spread today should confirm the lows are in, July $65 puts sold to open 1,500X at $0.75 and the October $70/$82.50 call spread bought 1,500X at $4.65
Michael Kors (KORS) weak with Coach (COH), though that rationale makes little sense, and the July $90 puts are sold to open 11,500X at $3.30, rolled from June
June 18th, 2014
Wendy's (WEN) November $9/$8 bull risk reversal opened 2,500X at $0.05 debit with shares moving nicely out of a base. WEN based on its 50 week EMA and now moving out above the 20 week EMA. The $3.07B restaurant trades 21.2X earnings, 1.28X Sales, and 1.85X Book with a 2.39% yield and double digit EPS growth. WEN also has 14.1% of its float short, though a collar on a short would not make a lot of sense using these strikes, and looks to be an outright bullish play. Argus recently downgraded WEN with a lowered $8.50 target. WEN is the 5th largest holding for Trian Fund.
Soda Stream (SODA) 30 day IV jumping 12% this afternoon with shares climbing, trading 9,375 calls, 2X daily, notable buying of 4,000+ October $45 calls to open at $1.50 to $1.70
China CSI 300 ETF (ASHR) with 7,000 October $22 calls bought to open at $1.40 to $1.60, trading 75X daily calls, unusual activity. ASHR has based for awhile above the $21.50 level and looking to rally. ASHR's top holdings include Ping An Insurance, China Merchants Bank, Industrial Bank, Haitong, and Gree Electric Appliances.
Autodesk (ADSK) traders attacking July $60 calls today with more than 8,000 bought, shares up after the Adobe (ADBE) report and Architecture Billings Index surged, already size in July $55 call OI above 16,750
June 17th, 2014
Affymetrix (AFFX) opening buys of 4,500 November $7.50 calls at $2.20 to $2.65, strong ITM action, and a name with sizable August $10/$5 bull risk reversals in OI. AFFX shares have been rallying off the April lows and looking for 5 year highs and a move into double digits. The $635M maker of products for the life sciences industry trades 51X earnings, 1.89X Sales and 2.38X Book with double digit EPS growth. On 5-5 Leerink boosted its target to $7.50.
Molina Health (MOH) trading 60X daily calls as 3,000 June $40 calls are sold to close at $4 and 3,000 December $45 calls bought to open at $2.20. MOH has a $2B market cap in a managed care industry seeing consolidation, and at 15.88X earnings, 2.26X Book and 7.4X FCF, it could be a deal name.
Amazon.com (AMZN) massive opening sale of 12,640 January 2015 $285 puts at $13.15 at the PHLX, tied to some large blocks of stock buying the day low as well
Ubiquiti Networks (UBNT) opening buys of 1,350 September $40- puts at $3.30 to $3.50, second day of put buying into strength, shares running into $45 resistance today
June 16th, 2014
St. Jude Medical (STJ) buyers of 2,600 July $70 calls at $0.65 with more than 11,600 already in OI from buys, a large medical device Co. that could also be active in M&A
Center Point Energy (CNP) size buyers of 8,500 July $25 calls at $0.25 to $0.40 in early trade after shares were upgraded at BMO this morning.
Chicago Bridge (CBI) a buyer of 1,000 July $77.50 calls at $1.30, name has been extremely weak, but noted as a potential tax inversion takeover name this morning
Yahoo (YHOO) with 1,250 July 3rd (W) $35 calls and 4,900 of the $35.50 calls bought to open the first 10 minutes of trading with shares down 5.5%
June 13th, 2014
Uranium (URA) opening sales of 7,000 October $14 puts at $0.80 today an interesting trade, has nice support at $14
Web-MD (WBMD) moving nicely off a strong weekly base above its 50 week rising EMA, and the September $50 calls are bought 1,090X to open this morning, trading 5X daily calls. The $1.73B Co. trades 38.35X earnings and 3.2X Sales, but if Internet names start to see more M&A, it is a likely candidate as a niche player. WBMD also has 26.3% of its float short.
Microsoft (MSFT) strong after Intel guidance and opening buyers active for nearly 10,000 June $41.50 calls in the first 45 minutes of trading. Microsoft (MSFT) large buyers in August $43 calls with 18,000 trading $0.68 to $0.70
Cummins (CMI) trading 4,725 puts the first hour, already 3X daily and 82% offer side for over $600K put premium purchased, bearish action in June and July $155 puts.
June 12th, 2014
Dollar General (DG) action heating up as more than 10,000 August $67.50 calls are bought to open at $0.60 to $0.70. DG briefly jumped to a record high after Icahn disclosed plans to push for Family Dollar (FDO) to seek a merger, but since have pulled back to nearly filling its gap.
Alaska Air (ALK) shares 4.28% lower, down with the rest of the airlines, but July $95 calls actively bought 3,000X with over 5,000 in OI, looking for a recovery. ALK announced a 2:1 split this morning.
YRC Worldwide (YRCW) shares jumped with 2,500 January 2016 $25/$17.50 bull risk reversals opened at $2.40, already has the 5,000 $25/$15 bull risk reversals in OI.
Apple (AAPL) April 2015 $110/$130 call spread bought 10,000X at $1.91
June 11th, 2014
Allergan (AGN) January 2015 $180/$145 bull risk reversals opened 2,000X today at $1 debits, positioning for upside in shares whether this Valeant (VRX) deal happens or not.
American Airlines (AAL) November $40 calls bought to open 10,000X with shares down 2.1%, paying $5.52 to $5.60 for the calls, the airline group down today, but bullish action remains active in the options.
Molson Coors (TAP) October $70 calls bought 3,500X to open at $3.70 offer, large trade, and follows the upside call buying yesterday. Molson Coors (TAP) now with a massive trade that buys 9,500 October $75 calls at $1.85
Altria Group (MO) bullish action for the second straight day with 4,500 July $43 calls bought at $0.42/$0.45 in the first 20 minutes of trading, 30 day IV rising sharply again with shares breaking out yesterday
June 10th, 2014
American Realty Capital (ARCP) with an opening buy of 80,000 January 2016 $12.50 calls at $1.05, traded vs. 3.84M shares, a name Marcato Capital is active in, and on 6-2 BAM started coverage at Buy with a $15.50 target. ARCP also has over 100,000 Jan. 2015 $12.50 calls in OI from large buys.
Coca Cola (KO) trades 12,500 August/January 2015 $41 calendar call spreads at a $0.72 debit, an interesting approach with shares trapped in a narrow $40.50/$41.25 range the last few weeks, expecting shares to stick around this level through August.
Kinder Morgan (KMP) with 3,500 July $80 calls bought to open at $0.75 offer, and shares clearing a long downtrend with $80.50 and $83 the next two resistance levels, a name with 30 day IV at 12.4%, cheap options. The $35.67B Oil & Gas MLP trades 27.97X earnings, 2.5X Book and yields over 7%.
22nd Century (XXII) shares moving out of a long base and the January 2015 $4 calls bought 2,000X at $1 as 1,375 June $2.50 calls are sold to close at $1.15. The $204M Biotech focuses on tobacco harm reduction and smoking cessation products.
June 9th, 2014
Industrials (XLI) roll out of 8,500 June $55 calls to the September $57 calls bought 8,500X to open at $0.75 offer
Walgreen Co (WAG) buyer of 16,100 January 2015 $75 calls at $5.55 offer to open, rolls from January $70 calls closed 11,100X at $8.15
Nektar Therapeutics (NKTR) buyer of 2,100 September $13 calls at $1.55 to open, and with the big premium for IDIX this morning, expect to see more speculative action in small cap Biotechs for a M&A surge
Salix Pharma (SLXP) buyer of 2,000 July $120/$135 call spreads at $3.50
June 4th, 2014
Nike (NKE) spread closes 8,000 of this week $75 calls $1.25 and buys 8,000 of the June 27th (W) $77/$80 call spreads at $1.03 with earnings on 6/26.
Nuance (NUAN) with nearly 3,500 October $18 calls bought to open at $0.70 offer for more than $265K call premium, shares looking to clear $16.50 resistance
Walgreen Co (WAG) trades 10,000 October $90 calls to open at $0.45. Walgreen (WAG) with another large trade as 10,000 August $80 calls sell at $1 and 10,000 September $85 calls buy at $0.65. Walgreen (WAG) buyer of 60,000 October $72.50 calls to open $5.82, closes large July $67.5 call position
Sinclair Broadcasting (SBGI) buyer of 4,600 July $31 calls $1.40, rolls from the June $30 calls sold at $1.05. SBGI recently with a large buy of 3,000 July $32 calls as well.
June 3rd, 2014
Marathon Oil (MRO) buyer of 25,500 October $38 calls at $0.86 and 2,000 October $33 puts at $0.58, the Company sold its Norwegian assets yesterday and Barron's was out positive seeing 20% upside in shares
Hess (HES) buyers of 2,400 November $92.50 calls at $4.10 to $4.15, a name with notable bullish OI in longer term options already, and clearing to new highs
Energy (XLE) with a large block of 40,000 July $93 puts bought to open at $1.18 this morning
Hertz (HTZ) traded 5,000 June/July $29 call calendar spreads at $0.40 debit, may be rolling out the recent June call purchase
June 2nd, 2014
China Ming Yang Wind Power (MY) unusual action trading more than 15X daily calls as 2,500 December $2.50 calls are bought to open in the $1.55 to $1.65 range, and 30 day IV jumps 23.7% today. MY shares have been strong on volume the last two weeks and looking to make a move back to March highs at $4.25. MY's Q1 earnings jumped 800% and sales rose 52%, an order backlog of 3.3GW. The $408.6M maker of wind turbines for China and India trades 0.9X Sales, 0.82X Book and 2.41X Cash.
Silver (SLV) looking to hold above $18 after recent weakness and leading bullish Deltas in the first 90 minutes of trading today, the January 2015 $20 calls bought 10,000X at $0.63 and the September $18 calls with a buyer of 3,000 at $0.91 offer to open.
Tyson Foods (TSN) more large buys of June $43 calls with 3,500+ trading, announced the superior bid for Hillshire (HSH) last week and traders paying $1.05 to $1.10 for the calls this morning. On 5-27 TSN October $42/$40 bull risk reversals opened 5,000X at $0.40 and on 5-29 the June $43 calls were bought 4,000X to open.
Textura (TXTR) bearish action trading 15X daily puts as 3,000 December $17.50 puts are bought to open $2.95 to $3.20. TXTR shares are off 8% today after rallying sharply off May lows the last few weeks. TXTR missed growth expectations last quarter and the $520.75M Software Co. trades 92.2X earnings, 12.2X Sales and 3.88X Book with 25.6% of its float short.