Smart Money Report

1. CRM- The biggest earnings report after the bell tonight will come from Salesforce.com. Analysts are looking for $0.10 in EPS and revenue of $887 million. The options market is implying a $3.46 move, or 7.61%, in either direction. Call to put ratio in the May 24 weekly options is heavily in favor of the bulls, currently at 1.91. Early this morning, a buyer paid $1.01-$1.40 each for nearly 2k of the May 24 weekly $45 calls.
2. GPS- The Gap will also report after the bell tonight. Analysts are looking for $0.69 in EPS and revenue of $3.70 billion. Options traders are pricing in $1.43 move, or 3.46%, in either direction. The call to put ratio in the May 24 weekly options is 1.29.
3. HALO- 5,000 July $10 calls were bought for $0.25-$0.30 each, against open interest of 2,784 contracts. Halozyme Therapeutics shares have dropped over 20% from the May highs.
4. NUAN- 2,500 Oct. $22 calls were purchased for $0.94-$1.05 each, against open interest of 848 contracts. Shares of Nuance are up fractionally today.
5. AAPL- Apple has reversed off of the early losses, now up 0.50%. The call to put ratio in the May 24 weekly options is 1.15, led by activity in the $450 calls.

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