Unusual Options Activity
Anika Therapeutics (ANIK)- More than 1,300 June $50 calls were bought for $1.50-$1.55. Call activity was 17x the average daily volume. Short interest in the stock stands at roughly 16% of the float.
Fidelity National Financial (FNF)- 2,500 July $36 calls were bought for $2.45 (this was tied to 162,500 shares). Earnings are due out on May 4th. A close above the $38.00-$38.21 resistance level would setup for a move to the low $40’s. FNF currently has an average analyst price target of $40.53.
SPDR KBW Regional Banking ETF (KRE)- The May 15 $38/$43 bull risk reversal was put on 5,000 times for an $0.11 debit. The ETF is closing in on a retest of the $41.50-$42.00 resistance level ahead of Q1 earnings season. At a 1.30% weighting, Cathay Bancorp is the largest holding in the ETF (M&T Bank is … Read More »
Smart Money Report
ASH- A rollout from 12,050 July $105 calls (credit) into 19,000 Oct. $110 calls (debit). Volume was above the open interest in the Oct. $110 calls. The call to put ratio was 226:1. Call activity is 28x the average daily volume. Earnings are due out on 7/24. The uptrend on the daily and weekly charts remains intact. Ashland trades at a P/E ratio of 14.85x (2015 estimates), PEG ratio of 0.75x (2015 estimates), -2.1% revenue growth (-17.6% this year), P/S ratio of 1.08x, 1.27% dividend yield, and has an average analyst price target of $120.
BCS- 2,500 Jan. 2016 $15 calls were bought for $1.50 each, against open interest of 4,525 contracts. New York Attorney General Eric Schneiderman sued British banking giant Barclays PLC for allegedly lying about how it favors high-frequency players in the firm’s stock-trading business.
COCO- 2,425 … Read More »