Unusual Options Activity
C- Roughly 20,000 Mar 2015 $52.50 calls were bought for $0.55-$0.70 each, against open interest of 9,485 contracts. The call to put ratio was 2:1 and call activity was 3x the average daily volume. This morning, Citigroup missed Q4 EPS and revenue estimates, sending shares lower. The stock is now coming in for a retest of the $46 support level that has held for nearly two years. Tangible book value of the company is now $56.83 per share.
CSCO- A likely rollout from 15,000 Mar 2015 $30 calls ($0.32 credit) into 15,000 Mar 2015 $28 calls ($0.96 debit) today. Volume was above the open interest in the Mar 2015 $28 calls. He/she is likely doing a roll down to get a higher delta on the trade and is willing to pay up for it. Q2 earnings are due out … Read More »