Smart Money Report

1. BEN- The Nov. $45/$50 put spread was put on 1,000 times for a $1.13 debit. Volume was above the open interest in both options. He/she is looking for a move down to $45 by November options expiration in Franklin Resources shares.
2. JCP- The May 2014 $8/$13 call spread was put on 5k times for a $1.44 debit. Volume was above the open interest in both options.  He/she is looking for a move up to $13 by May 2014 options expiration in shares of J.C. Penney.
3. WWW- 1,500 Oct. $55 puts were purchased for $0.70-$0.80 each, against open interest of 1,870 contracts. Wolverine World Wide will report Q3 earnings tomorrow morning before the bell.
4. AAPL- Apple shares are up 1.73%, following an upgrade at Jefferies to a Buy rating this morning. The call to put ratio in the Oct. 11 weekly options is 1.87, led by activity in the $490, $495, and $500 calls.

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AAPL BEN JCP Smaer Money Report unusual options activity WWW