Smart Money Report

1. MU- Micron Technology will report Q3 earnings after the bell tonight. Analysts are looking for $0.02 in EPS and revenue of $2.2 billion. The options market is implying a $1.13 move, or 8.21%, in either direction. Call to put ratio in the June options is 1.33.
2. RHT- Another big earnings report released tonight will come from Red Hat. Analysts are looking for $0.31 in EPS and revenue of $360 million. Options traders are pricing in a $3.60 move, or 7.73%, in either direction. The call to put ratio in the June options is currently 1.38.
3. DFS- 3,600 June $48 calls were bought for $0.45-$0.75 each, against open interest of 2,579 contracts. Shares of Discover Financial Services are up 0.46% today.
4. LO- Over 6k July $42.50 puts were purchased for up to $0.72 each, against open interest of 1,145 contracts. Lorillard shares are up 17% year to date.
5. AAPL- Shares of Apple are down 1%, breaking through the $430 support level. The call to put ratio in the June options is 1.05, but the June $425 puts are the most active Apple option contract.

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