2014-08-20 Smart Money Report (CMLP) (FCS)
Smart Money Report
- CMLP- Another 2,500 Oct $22.50 calls were purchased for $0.70-$0.75 each, against open interest of 9,860 contracts. There was large buying these Crestwood Midstream Partners calls on 8/4 and 8/15. Open interest was only 600 on 8/3.
- EXXI- 5,000 Jan 2016 $20 calls were bought for $1.90 each, against open interest of 1,384 contracts. This was tied to a sale of 100,000 shares.
- FCS- Sizable buying in the Sep and Nov $17 puts this morning in Fairchild Semiconductor. Volume was above the open interest in both options. The put to call ratio is 3:1. Put activity is 28x the average daily volume. Implied volatility +19.5% to 33.54. The stock is nearing a retest of the $17.00-$17.30 resistance level.
- FIVE- A rollout from 12,500 Sep $40 calls (credit) into 12,500 Nov $40 calls (debit). Volume was above the open interest in Nov $40 calls. Earnings are due out on 9/9.
- TWGP- 7,000 Oct $2 puts were purchased for $0.25 each, against open interest of 3,149 contracts. Put activity is 28x the average daily volume. Tower Group faces a listing removal from the Nasdaq if they do not file a 10-Q.
Summer Sale: From now until Sunday, August 31st, annual memberships are only $225 (25% off of the regular $299.95 price). This is available for new and existing members. Check out our updated 2014 options performance page here (all stock trades are posted on the Weekend Market Updates).
1 On 1 Options Mentoring: Learn more about 1 on 1 options mentoring courses that help can you improve your trading odds and risk management skills.
Free Trial: If you would like to know more about premium content or you would like a free trial of our service, email me at Mitchell@OptionsRiskManagement.com .
Premium Membership: Join now to gain access to the all of the stock watchlist updates, unusual options activity reports, earnings trade ideas, weekend market updates, Premium Twitter feed, and more! All for just $29.95/month or save by purchasing an annual subscription. Join me and the other ORM traders in the chat room today!
