Smart Money Report

1. SNDK- Sandisk is set to announce Q1 earnings after the bell tonight, as analysts are looking for $0.77 in EPS and revenue of $1.3 billion. In the options market, the Apr. $55 straddle is implying a 6.93% move after the announcement. Currently the call to put ratio in the Apr. options is around 1.67. Shares of Sandisk are down 4.21%.
2. EBAY- eBay is also set to announce Q1 earnings after the bell tonight, as analysts are calling for $0.62 in EPS and revenue of $3.8 billion. The options market is implying a 4.69% move in either direction following the report. There is a slight edge in calls to puts, but most of the activity is split between the Apr. $55 put and the Apr. $57.50 calls. eBay shares are down 2.18%.
3. GME- 2,000 June $32 calls were bought for $2.44 each, against open interest of 103 contracts.
4. EL- Over 2,100 May $57.50 puts were sold for $0.57-$0.63 each, against open interest of 7,502 contracts. Check the OI tomorrow morning for confirmation of whether this was a new bullish trade or was a closing out of a bearish trade.
5. AAPL- Shares of Apple broke the $400 level for the first time since January 2012, falling 5.65% on the day. Currently the put to call ratio in the Apr. options is around 1.20, led by activity in the Apr. $400 and $405 puts.

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