Smart Money Report

1. DHI- 2,000 Aug. $24 calls were purchased for $0.64-$0.66 each, against open interest of 1,310 contracts. RD Horton shares are down over 24% in the past five weeks.
2. HOLX- 3,000 Sep. $22 calls were purchased for $0.44-$0.45 each, against open interest of 2,661 contracts. We highlighted large buyers yesterday in the same option.
3. HYG- 8,000 Dec. $94 calls were purchased for $0.50 each, against open interest of 121 contracts. Shares of the high yielding corporate bond fund hit a new low for the year today.
4. WM- A roll up from 23k July $35 calls into 23k July $38 calls for roughly a $2.77 credit. Volume was well above the open interest in the July $38 calls. He/she is taking profits off fo the table, but remains bullish into next month’s option expiration. Waste Management shares are finding support around the $39.40 level.
5. AAPL- Shares of Apple are setting up for a test of the $400 level and possibly a retest of the 52-week lows. The call to put ratio in the June 28 weekly options is 1.11, led by activity in the $410 puts and the $420 calls.

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