2014-06-02 Smart Money Report (CFX) (EWJ)

Posted on June 2nd, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-06-02 Smart Money Report (CFX) (EWJ)

Smart Money Report

  1. CFX- 4,000 July $67.50 puts were sold for $0.50-$0.55 each, against open interest of 6 contracts. Colfax trades at a P/E ratio of 22.67x (2015 estimates), PEG ratio of 0.97x (2015 estimates), 7.2% revenue growth, and has an average analyst price target of $75.
  2. EPI- 15,000 June 27 weekly $22.50 calls were purchased for $0.35 each, against open interest of 414 contracts. Look for a retest of $23 in the near-term in the India equity ETF.
  3. ESI- 1,500 July $19 calls were bought for $0.89 each, against open interest of 25 contracts. Typically trades 367 calls per day. Shares of ITT Educational Services are down 64% from the January highs.
  4. EWJ- A rollout from 250,000 June 21 $11 calls (credit) into 250,000 July $11 calls (debit). Volume was above the open interest in the July $11 calls. The Japan equity ETF brokeout above the $11.50 resistance level last week. The trader is extending his/her trade by one month and is likely looking for a retest of the $12.00-$12.15 level.
  5. WU- 9,035 Aug. $16 calls were sold for $0.60 each, against open interest of 2,503 contracts. This is likely done against a long stock position, which creates a covered call. Western Union shares are on pace to snap a six day losing streak, down 0.71% today.

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