Smart Money Report
BAC- The Nov $16/$17 bull risk reversal was put on 10,000 times for a $0.20 credit. Volume was below the open interest in both options. There were nearly 20,000 Oct 18 $17 calls bought yesterday.
GPS- 4,906 Mar 2015 $48 calls were sold for $2.15 each, against open interest of 8 contracts. Given the rise from $39 to $46 in Gap shares over the last month, selling these calls against a long stock position allows you stay in the trade with upside to effectively $50.15.
HLF- More than 4,400 Sep 20 $55 calls have traded with the majority being purchased for $1.07-$1.10 each, against open interest of 2,006 contracts. The call to put ratio in Herbalife is 3:1. Call activity is over 2x the average daily volume.
TRW- 2,500 Jan 2015 $100 calls were bought for $4.10-$4.25 each, against open interest … Read More »