Smart Money Report

1. GWRE- Guidewire Software will announce Q1 earnings after the bell tonight. Analysts are looking for $0.03 in EPS and revenue of $63.6 million. The options market is pricing in a $4.35 move, or 10.92%, in either direction through June options expiration. Only the June $35 and $40 puts were active ahead of the report.
2. UNFI- Another earnings release tonight will come from United Natural Foods. Analysts are looking for $0.64 in EPS and revenue of $1.60 billion. Options traders are pricing in a $3.80 move, or 6.86%, in either direction through options expiration.
3. BID- 9,000 July $40 calls were bought for $0.80 each and 3,500 July $37 puts were sold for $1.65 each, creating a bull risk reversal. This trade was put on for roughly a $0.40 debit. He/she needs shares of Sotheby’s above $40.40 on July options expiration or losses will occur. Volume was well above the open interest in both options.
4. TYC- Someone rolled up 3k July $35 calls into 3k July $38 calls for $0.15 each, against open interest of 26 contracts. Tyco International shares are up 0.67% today.
5. AAPL- Shares of Apple have turned negative this afternoon, after gapping higher at the open on a strong U.S. equities futures session. The call to put ratio in the May 31 options is 1.38, led by activity in the $450 and $460 calls.

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