1. AAPL- Apple will release Q3 earnings after the bell tonight. Analysts are looking for $1.23 in EPS, revenue 0f $37.98B, and iPhone sales of 35.9M. The options market is implying a $4.38 move, or 4.64%, in either direction through Friday’s close. The call to put ratio is currently 2.02. The whisper number for tonight is for a $0.10 beat on EPS according to earningswhispers.com. The stock has dropped after earnings on five out of the last seven reports. View recent Apple options activity in Smart Money Reports from the last two months.
2. FCX- Freeport McMoRan Copper & Gold will release Q2 earnings before the bell tomorrow morning. Analysts are looking for $0.53 in EPS and revenue of $5.2B. The options market is implying a $0.96 move, or 2.46%, in either direction through Friday’s close. The call to put ratio is currently 2.06. The whisper number for tonight is for a $0.05 beat on EPS. The stock has moved lower after earnings on five out of the last seven reports. My analysis on Freeport McMoRan Copper & Gold for TraderPlanet.com from 7/3.
3. KS- 2,116 Feb 2015 $30 calls were bought and 4,232 Feb 2015 $25 puts were sold, resulting in a bull risk reversal for a $0 debit. This trade was done about 6,000 times earlier this month across different days.
4. MGM- Nearly 4,000 Aug 16 $26.50 calls were bought for $0.61 each, against open interest of 54 contracts. Earnings are due out on 8/5. The stock retested the three month support level last week and is now starting to move higher.
5. MSFT- A rollout from 70,000 Aug 16 $45 calls (credit) into 70,000 Aug 16 $47 calls (debit). Volume was above the open interest in the Aug 16 $47 calls. Earnings are due out tonight. Despite the run up in the last two weeks the options market remains bullish for the 3-4 weeks. There were also 16,110 Aug 29 weekly $42.50 puts sold for $0.51 each, against open interest of 145 contracts today.

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AAPL FCX KS MGM MSFT Smart Money Report unusual options activity