Smart Money Report

1. SNDK- 3,800 July $65 calls were bought for $0.70-$0.75 each, against open interest of 4,989 contracts. Sandisk has since lost the morning gains, now down 0.66%.
2. HES- The Jan. 2014 $80/$90 call spread was put on 2k times for a $1.52 debit. Volume was less than the open interest in both options. Shares of Hess have been stuck in a $8 range for the last four months.
3. HD- Over 6,000 June 14 $82.50 weekly calls were purchased for up to $0.24 each, against open interest of 610 contracts. Home Depot shares successfully tested the 50-day EMA yesterday and are adding to those gains this session.
4. CTRX- The Oct. $50/$60 call spread was put on 4,000 times for a $3.26 debit and at the same time 4,000 Oct. $45 puts were sold for $3.36 each, creating a bull call spread risk reversal. This trade was put on for a $0.10 debit. He/she stands to make money as long as shares of Catamaran stay above the $45 level through October options expiration. Shares of Catamaran are up over 3% on the day.
5. AAPL- Apple shares are on pace to close lower for the fourth consecutive day, but it is finding support at the 50-day simple moving average. The call to put ratio in the June 14 weekly options is 1.75, led by activity in the June 14 weekly $450 calls.

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