2014-08-20 Smart Money Report (CMLP) (FCS)

Posted on August 20th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-08-20 Smart Money Report (CMLP) (FCS)

Smart Money Report

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

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