Unusual Options Activity
Conn’s (CONN)- The July $40/$45 bull call spread was put on 2,500 times for a $1.25 debit. On March 27th, Piper Jaffray upgraded the stock to overweight from neutral and on April 3rd, B. Riley kept their buy rating and a $52 price target.
DICK’S Sporting Goods (DKS)- The Jan 2016 $52.50/$60 bull risk reversal was put on 4,600 times for a $0.73 debit. Yesterday, the company forecast that sales would hit $9B annually by 2017. The stock is coming in for a retest of the 50-day EMA.
Freeport McMoRan (FCX)- 7,500 Aug $16 puts were purchased for $0.65, against open interest of 4,176 contracts. The May 15 $15 and Jan 2016 $20 puts have saw big buying recently (unlocked Options Report from March 16th). Earnings are due out on April 23rd.
Market Vectors Gold Miners ETF (GDX)- 10,000 May 1 … Read More »