2014-05-21 Smart Money Report (GES) (SHLD)

Posted on May 21st, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-05-21 Smart Money Report (GES) (SHLD)

Smart Money Report

  1. SHLD- Sears is set to announce Q1 earnings before the bell tomorrow morning. Analysts are looking for -$1.77 in EPS and revenue of $7.7 billion. Option traders are pricing in a $5.75 move, or 15.73%, in either direction through June options expiration. The put to call ratio in (SHLD) options is currently 1.54, led by a seller of 3,000 July $32 puts for $1.75 each. There has sizable June call buying in recent weeks too. The stock has dropped after earnings on five out of the last six reports.
  2. BBRY- 9k Sep. $7 puts were sold for $0.63 each, against open interest of 58,634 contracts. Earnings are due out on 6/19. The stock retested the $7 level in April and held as support.
  3. CLF- A rollout from 17,820 July $18 puts (credit) into 25,034 Aug. $16 puts (debit). Volume was above the open interest in the Aug. $16 puts. CLF shares are on pace to snap a four day losing streak, but the downtrend from November remains intact. (CLF) EPS is expected to decline 93.2% this year with revenues declining 14% and 3.2% expected next year. On 5/15, Macquarie downgraded the stock to underperform with a $10 price target.
  4. CNQ- 5,000 Jan. 2015 $40 calls were bought for $2.65-$2.70 each, against open interest of 28,848 contracts. The stock trades at a P/E ratio of 11.20x (2014 estimates), 32.6% revenue growth, and has an average analyst price target of $46.
  5. GES- Large buying in the June $26 and $27 puts today. Earnings are due out on 5/29. Put activity is 12x the average daily volume. The stock has dropped after earnings on the last two reports.

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