2014-08-28 Smart Money Report (FRO) (QIHU)

Posted on August 28th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-08-28 Smart Money Report (FRO) (QIHU)

Smart Money Report

  1. AMAT- 5,000 Apr 2015 $25 calls were purchased for $1.24-$1.25 each, against open interest of 76 contracts. Large open interest still remains in upside calls in the Jan 2015 options expiration.
  2. CTL- 2,000 Jan 2016 $40 calls were bought for $3.50 each, against open interest of 5,824 contracts. This was tied to a sale of 110,000 shares.
  3. FRO- 10,000 Jan 2015 $2 puts were purchased for $0.30 and 10,000 Jan 2015 $2 calls were sold for $0.45-$0.50 each. Volume was above the open interest in both options. This bear risk reversal (or collar) in Frontline is profitable below $2.20 on Jan 2015 options expiration.
  4. GES- The Jan 2016 $20/$28 bull risk reversal was put on 2,000 times for a $0.65 debit. Volume was above the open interest in the Jan 2016 $28 calls. Guess? missed Q3 EPS, revenue estimates and lowered FY15 EPS and revenue guidance this morning.
  5. QIHU- 2,000 Mar 2015 $90 calls were purchased for $11.70 each, against open interest of 133 contracts. This was tied to a sale of 112,000 shares. On 8/25, Qihoo 360 Technology reported Q2 EPS of $0.50 vs the $0.48 estimate and revenue of $317.9M vs the $310.5M estimate. They issued Q3 revenue guidance of $360-$365M vs the $357.66M estimate. Total monthly active users in June 2014 was 496M vs 461M in June 2013. The stock is down nearly 13% from the close on Friday.

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