Smart Money Report

1. ZQK- Quiksilver will report Q2 earnings after the bell tonight. Analysts are looking for $0.04 in EPS and revenue of $505 million. Options traders are pricing in a $1.00 move, or 13.40%, in either direction through June options expiration. In the June options volume is light, but the put to call ratio is 1.43.
2. CTRP- The Sep. $35/$40 call spread was put on 7k times for a $1.05 debit. Volume was well above the open interest in both options. Ctrip.com International shares are up 4.01%.
3. PSUN- 2,500 Dec. $5 calls were bought for $0.25-$0.30 each, against open interest of 1,735 contracts. Shares of Pacific Sunwear have risen 108% year to date.
4. XLI- More than 14k July $45 calls were purchased for $0.16 each, against open interest of 2,242 contracts. The Industrials ETF traded down to the 50-day EMA earlier today and then recovered, now higher on the session.
5. AAPL- Shares of Apple are set to close below the 50-day EMA for the 1st time in about three weeks, currently off by 1.49%. Call to put ratio in June 7 weekly options is 1.58, led by activity in the $440 calls.

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