Smart Money Report

1. JCP- J.C. Penney will report Q1 earnings after the bell tonight. Analysts are looking for -$0.86 in EPS and revenue of $2.70 billion. The options market is implying a $1.42 move, or 7.59%, in either direction. Call to put ratio in the May options is in favor of the bulls at 1.76.
2. JWN- Another major retailer to report tonight will come from Nordstrom. Analysts are looking for $0.76 in EPS and revenue of $2.80 billion. Options traders are pricing in a $2.38 move, or 3.87%, in either direction. Put activity is leading (JWN) options, as the put to call ratio in the May options is 7.39. According to EarningsWhispers.com, the whisper number for tonight is $0.79 in EPS.
3. QCOM- 10k July $70 calls were bought for $0.47-$0.50 each, against open interest of 30,260 contracts. Check the open interest in the morning for confirmation of new buying.
4. XLV- 2,200 Sep. $32 calls were purchased for $0.33 each, against open interest of 90 contracts. Shares of the Health Care ETF are 0.57% today.
5. AAPL- Apple shares are recovering from an initial gap lower this morning, now higher by 1.69%. Call to put ratio in the May options is 1.19, led by activity in the May $430, $435, and $440 calls.

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