Smart Money Report

1. BEAV- Another 2,772 May $100 calls were bought for $2.40 each, against open interest of 4,123 contracts. There was a large buyer of 3,341 of these calls yesterday for $2.40 each.
2. GRPN- Over 4k May 9 weekly $8 calls have traded this morning with the majority being bought for $0.10 each, against open interest of 1,602 contracts. Earnings are due out tonight.  The call to put ratio is 2:1. The stock has moved higher after earnings on three out of the last four reports. Shares of the coupon company are down 42% year to date. On 5/2, Morgan Stanley maintained an overweight rating on the stock with a $13 price target.
3. KING- The May $17/$20 bull risk reversal was put on 3,032 times for a $0.35 debit. Volume was above the open interest in both options. This involves buying the May $20 calls and selling the May $17 puts to reduce the cost of the trade. Earnings are due out tomorrow morning. This will be their first report as a publicly traded company.
4. SCTY- The May 17 $60/$65 call spread was put on 6,065 times for a $0.77 debit. Volume was above the open interest in both options. Earnings are due out tomorrow afternoon. The stock has dropped after earnings on three straight reports. However, the call to put ratio is 26:1 and implied volatility is +4.3% to 69.16.
5. YELP- More than 3,000 June 21 $50 puts were bought for $2.05 each and over 1,800 June 21 $67.50 calls were sold for $1.90-$1.91 each this morning. Volume was above the open interest in both options. The put to call ratio was 1.5:1. Net call premium was -$142K vs. net put premium of +$770K. Implied volatility rose 3.3% to 68.58 in early trading. $52.40 is the next support level in (YELP) shares to watch for.

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BEAV GRPN KING SCTY Smart Money Report unusual options activity YELP