2014-06-13 Smart Money Report (AAPL) (CLF)

Posted on June 13th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-06-13 Smart Money Report (AAPL) (CLF)

Smart Money Report

  1. AAPL- A rollout from 8,389 Jan. 2015 $77.86 calls (credit) into 22,500 Jan. 2015 $95/$110 call spreads (debit). Volume was above open interest in the Jan. 2015 $95 calls. There was a big call spread trade yesterday in Apple.
  2. BAC- 14,000 July 19 $16 calls were bought for $0.22 each, against open interest of 73,169 contracts. Implied volatility rose 4.9% to 22.39. Bank of America shares have short-term support at $15.25. It trades at a P/E ratio of 10.16x (2015 estimates) with 65.2% EPS growth, 3.7% revenue growth (-0.6% this year), P/B ratio of 0.74x, 0.26% dividend yield, and has an average analyst price target of $17.25.
  3. CLF- A rollout from 10,000 Aug 16 $16 puts (credit) into 10,000 Aug 16 $14 puts (debit). Volume was above the open interest in the Aug 16 $14 puts. Cliff Natural Resources remains in a three year downtrend.
  4. COH- 4,000 July 19 $41 calls were bought for $0.50 each, against open interest of 4,252 contracts. This is the second straight day of buying in these calls. Shares of Coach are down 29% year to date. It trades at a P/E ratio of 14.02x (2015 estimates), -2.2% revenue growth (-6% this year), P/S ratio of 2.17x, and has an average analyst price target of $47.
  5. VEEV- More than 2,000 June $20 puts were purchased for $0.25 each, against open interest of 1,470 contracts. $22.50 has acted as resistance for more than two months now in Veeva Systems.

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