Smart Money Report

1. ZNGA- 3,000 May $3.50 calls were bought for $0.26-$0.27 each, against open interest of 12,737 contracts. Check the open interest in the morming for confirmation of new buying.
2. INTC-Intel is set to announce Q1 earnings after the bell, as analysts are looking for $0.41 in EPS and revenue of $12.6 billion. Call to put ratio in the Apr. options is currently 1.72. April options are implying a 3.94% move following the Q1 report.
3. YHOO- Yahoo is also going to report Q1 earnings after bell. Analysts are looking for $0.24 in EPS and revenue of $1.1 billion. Currently the call to put ratio is around 1.21 in Apr. options as shares are down 0.38% today. The Apr. $24 straddle is implying a 4.85% move.
4. XLE- 10k June $80 calls were purchased for $0.52-$0.53 each, against open interest of 36,431 contracts. Shares of the Energy Select Sector SPDR ETF are up 0.83%.
5. AAPL- Shares of Apple are rebounding today, following yesterday’s test of the $419 support level. Total volume in the Apr. options is lead by calls, but the Apr. $420 puts remain the most strike today.

Updates: The open interest on the (ZNGA) May $3.50 calls went from 12,737 contracts to 14,828 contracts this morning. While the open interest in the (XLE) June $80 calls dropped from 36,431 contracts to 27,476 contracts.

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