2014-08-19 Smart Money Report (EXAS) (KNDI)
Smart Money Report
- BURL- The Sep $35 straddle was put on 3,000 times for a $3.35 credit. Volume was above the open interest in both options. Earnings are due out on 9/9. The trader is betting on the stock staying around the $35 level through Sep options expiration. Breakevens are at $38.35 and $32.65. The stock has moved $2-$4 the day after reporting on the 3 reports as a public company.
- DKS- 3,000 Sep $46 calls were sold for $0.65 each, against open interest of 1,917 contracts. The stock has resistance in the $46-$47.50 range. They reported Q2 EPS of $0.67 vs the $0.66 estimate and revenue of $1.69B vs the $1.65B estimate this morning. They repurchased $100M in stock in the quarter. Sporting Goods comps were+4.1% while Golf Galaxy comps came in at -9.3%.
- EXAS- 2,000 Oct $17 puts were sold for $1.40 each, against open interest of 682 contracts. On 8/12, the FDA approved a DNA test to screen for colon cancer (Cologuard), which is made by EXACT Sciences.
- KNDI- Sizable buying in the Sep $20 and $25 calls today. Volume was above the open interest in both options. The call to put ratio was 25:1 in Kandi Technologies. Call activity was 4x the average daily volume. Implied volatility +20.3% to 95.72.
- TASR- 1,300 Dec $17 calls were purchased for $1.10 each, against open interest of 173 contracts. On 7/30, they reported in-line Q2 results. Last week they announced they sold 100 body-worm cameras to the Fresno Police Department (could be a driver if other police departments adopt this technology) On the daily chart, the stock recently broke out above the $14 resistance level.
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