2014-05-16 Smart Money Report (CLF) (GLD)

Posted on May 16th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-05-16 Smart Money Report (CLF) (GLD)

Smart Money Report

  1. BKS- 4,400 June $15 puts were bought for $0.45 each, against open interest of 153 contracts. Shares of Barnes & Noble have struggled to hold above the $17 level on several attempts over the last month.
  2. CLF- A rollout from 5,100 July $19 puts (credit) into 9k July $17 puts (debit). Volume was above the open interest in the July $17 puts. The trader is taking profits on the initial short position, but remains bearish on Cliffs Natural Resources as the stock hits new lows.
  3. DIA- Large buying in the June 21 $164 and $165 calls today. Volume was above the open interest in both options. Net call premium was +$1.0M vs. net put premium of +$286K. These buyers are looking for a retest of the all-time highs in the Dow Jones Industrial Average.
  4. EOG- A rollout from 3k May 17 $100 calls (credit) into 3k July $100 calls (debit). Volume was above the open interest in the July $100 calls. (EOG) trades at a P/E ratio of 19.36x (2014 estimates), PEG ratio of 0.67x (2014 estimates), 16.7% revenue growth, and has an average analyst price target of $107.75. The long-term uptrend on the weekly chart remains intact.
  5. GLD- 10k Dec. $130 calls were purchased for $3.50 each, against open interest of 57,008 contracts. This was tied to a sale of 330k shares for $124.53 each.

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