Smart Money Report

1. YUM- Yum! Brands will report Q2 earnings after the bell tonight. Analysts are looking for $0.54 in EPS and revenue of $2.9 billion. Options traders are pricing in a $3.00 move, or 4.16%, in either direction. The put to call ratio in the July 12 weekly options is currently at 1.15.
2. ABX- 6,000 Jan. 2014 $14 puts were sold to open for a $2.27-$2.28 credit, against open interest of 2,773 contracts. He/she is betting on Barrick Gold shares being above the $14 level on the January 2014 options expiration.
3. BKLN- For the second day in a row, someone bought 3k Jan. 2014 $23 puts for $0.25 each, against open interest of 9,030 contracts. This could someone hedging a large stock position or it could be someone using the recent strength to put on a bearish position via options.
4. FITB- The Aug. $19 straddle was sold 10,250 times for a $0.94 credit. Volume was well above the open interest in both options. He/she thinks shares of Fifth Third Bancorp will trade around the $19 level through August options expiration.
5. AAPL- Apple shares are hovering around the flat line today, following a brief run up to the $425 level. The call to put ratio in the July 12 weekly options is 1.62, led by activity in the $425 and $430 calls.

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