2014-05-12 Smart Money Report (IYR) (WB)

Posted on May 12th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-05-12 Smart Money Report (IYR) (WB)

Smart Money Report

  1. IYR- 10k May 30 weekly $70 puts were bought for $0.25-$0.26 each, against open interest of 37 contracts.The real estate ETF is set to close at a new high today with RSI overbought at 74+. This is likely a hedge against an existing long position.
  2. TWTR- A rollout from 4k May 17 $34 calls (credit) into 4k May 23 weekly $33 calls (debit). Volume was above the open interest in the May 23 weekly $33 calls. Twitter has near-term upside potential to $36-$37 (gap fill). Current support is at $29.50.
  3. VGR- More than 2,000 Aug. $22.50 calls were purchased for $0.48-$0.55 each this morning, against open interest of 1,199 contracts. Earnings are due out tonight. Implied volatility rose 13% to 34.31 with call activity over 5x the average daily volume. The stock has moved higher after earnings on three straight reports.
  4. VIX- Call activity is over 2x the average daily volume (call to put ratio is over 5:1) with more than 1M traded. This is largely due to buying in the June, Aug, and Sep. $20 calls. Net call premium is $2.0M vs. net put premium of $105.
  5. WB- 2,500 May $20 calls were purchased for $0.30-$0.35 each, against open interest of 219 contracts. This morning Weibo was initiated with an overweight rating and a $25 price target at Piper Jaffray.

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