Smart Money Report

1. ASH- 2,500 July $85 puts were sold for $1.85-$1.96 each, against open interest of 337 contracts. He/she is betting on Ashland shares staying above the $85 level through July options expiration.
2. FXI- The Sep. $35.50/$38.50 call spread was put 30k times and at the same time 30k Sep. $29.50 puts were sold, creating a call spread risk reversal. The trade was put on for a $0.19 debit. Volume was well above the open interest in both options. Shares of the China equity ETF are down 14.39% year to date.
3. KGC- 2,000 Aug. $8 calls were purchased for $0.07 each, against open interest of 12,540 contracts. Kinross Gold shares are flat on the day.
4. NRG- 5,000 Jan. 2015 $25 puts were bought for $3.20 each, against open interest of 30 contracts. Shares of NRG Energy continue to trade in the $26-$27.50 range.
5. AAPL- Apple shares are bouncing off of the $430 level, up 1.18% on the day. The call to put ratio in the June options is 1.40. Also, 10k July $470 calls were bought for $2.26-$2.30 each, against open interest of 9,557 contracts.

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