2014-07-21 Smart Money Report (BIDU) (MCP)

Posted on July 21st, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-07-21 Smart Money Report (BIDU) (MCP)

Smart Money Report

  1. BIDU- A rollout from 3,745 Sep $185 calls (credit) into over 3,000 Dec $200 calls (debit). Volume was above the open interest in the Dec $200 calls. Earnings are due out on 7/24. Baidu shares have moved higher after earnings on four straight reports. They beat EPS estimates last quarter by $1.20 and was revenues rise 59% year over year.
  2. CSCO- More than 18,000 Sep $27 calls have traded with the majority being purchased for $0.44-$0.46 each, against open interest of 91,324 contracts. Cisco Systems earnings are due out on 8/13. RBC Capital maintained an outperform rating, but raised their price target to $28 from $24.
  3. IMAX- Another 2,500 Aug $26 calls were bought for $0.55 each, against open interest of 4,480 contracts. The call to put ratio is 66:1. Call activity is over 2x the average daily volume.  Over 4,000 were bought for $0.54-$0.55 each on 7/16. Earnings are due out on 7/24. IMAX was upgraded this morning to buy at Stifel Nicolaus ($32 price target) and B. Riley this morning.
  4. MCP- 6,000 Sep $2 calls were bought for $0.29-$0.30 each, against open interest of 8,064 contracts. There has been large Sep $2.50 call buying this summer. Molycorp earnings are due out on 8/6.
  5. RF- 4,000 Aug $10 puts were purchased for $0.19-$0.21 each, against open interest of 3,970 contracts. Earnings are due out tomorrow morning. Regions Financial shares have only dropped on two out of the last seven reports.

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