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Unusual Options Activity
Johnson & Johnson (JNJ)- 6,100 May 22 weekly $98.50 puts were sold for $1.23. They had a slight beat on Q1 results this morning, but they lowered FY15 EPS guidance on FX concerns.
JPMorgan Chase (JPM)- 5,500 May 22 weekly $61.50 puts were sold for $0.77. They beat Q1 EPS estimates by $0.05 today; equity market revenue was up 22%. The stock is breaking out above the $62 resistance level.
NetApp (NTAP)- Nearly 7,000 May 15 $36 calls were bought for $0.67-$0.82 in early trading (now more than 12,000 traded). Call activity was 8x the average daily volume as implied volatility spiked 10.6% to 24.78. NTAP has no major resistance until the 50-day EMA (currently at $37).
Skyworks Solutions (SWKS)- 2,500 May 15 $100 puts were bought for $7.10-$7.90. Earnings are due out on April 30th (shares have moved higher after … Read More »
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Open Interest Updates From The Previous Trading Days Action
HollyFrontier (HFC)- Mar 20 $40 call open interest went from 1,625 to 4,681 contracts (buying yesterday).
Intel (INTC)- Mar 20 $33.50 call open interest went from 3,823 to 28,567 contracts (buying yesterday).
McDonald’s (MCD)- June $97.50 call open interest went from 9,588 to 17,290 contracts (buying yesterday).
Marvell Technology (MRVL)- Apr 17 $18 call open interest went from 3,042 to 10,549 contracts (buying yesterday).
Nucor (NUE)- Mar 20 $47 call open interest went from 452 to 6,007 contracts (buying yesterday).
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Smart Money Report
CSCO- Cisco Systems will report Q4 earnings after the bell tonight. Analysts are looking for $0.51 in EPS and revenue of $12.4 billion. Options traders are pricing in a $1.68 move, or 6.43%, in either direction. The call to put ratio in the Aug. options is in favor of the bulls at 2.28.
NTAP- Another large tech name to report tonight is NetApp. Analysts are looking for $0.49 in EPS and revenue of $1.5 billion. The options market is implying a $1.98 move, or 4.69%, in either direction. Put to call ratio in the Aug. options is 1.09.
HOV- 2,400 Sep. $6 calls were bought for $0.15 each, against open interest of 2,200 contracts. Hovnanian Enterprises are near the lows of the day, but remain higher by 0.58%.
PPC- Over 7,500 Dec. $15 calls were purchased for $3.30-$4.80 each, against open interest of 455 … Read More »