Smart Money Report

1. ADTN- ADTRAN is set to announce Q2 earnings before the bell tomorrow morning. Analysts are looking for $0.16 in EPS and revenue of $154 million. The options market is implying a $2.25 move, or 8.97%, in either direction through July options expiration. Put to call ratio in the July options is 10.02, led by activity in the July $25 and $26 puts.
2. FDO- Family Dollar Stores is another big name expected to release earnings in the morning. Analysts are looking for $1.03 in EPS and revenue of $2.6 billion. Options traders are pricing in a $4 move, or 6.27%, in either direction through July options expiration. The put to call ratio in the July options is 1.35, led by activity in the July $65 calls and $60 puts.
3. FSL- 1,500 Aug. $14 puts were bought for $0.65-$0.75 each, against open interest of 90 contracts. Freescale Semiconductor shares are up over 10% on the day, so he/she could be buying these puts for protection against stock or is making an outright bearish bet.
4. MCP- Over 13k Aug. $7 calls have traded today, with the majority being bought for up to $0.33 each. Open interest is only 2,699 contracts. Shares of Molycorp are near the highs of the day, up 5.10%.
5. AAPL- Apple shares found support at the $410 level once again, now up 1.11%. The call to put ratio in the July 12 weekly options is 1.27, again led by activity in the July 12 weekly $420 and $425 calls.

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