2014-09-05 Smart Money Report (LGF) (PVH)
Smart Money Report
- ATW- 3,000 Oct $50 calls were bought for $0.50 each, against open interest of 7 contracts. The call to put ratio is 104:1. Call activity is 36x the average daily volume. Implied volatility rose 14% to 26.86. Total call open interest is 2,587 contracts.
- FB- A rollout from 6,383 Sep 5 weekly $74 calls (credit) into 7,660 Nov $77.50 calls (debit). Volume was below the open interest in both options. The call to put ratio is 2:1.
- FTI- 2,000 Oct $60 calls were purchased for $0.70 and 4,000 Oct $52.50 puts were sold for $0.25, resulting in a bull risk reversal. Volume was above the open interest in both options. Option activity is 18x the average daily volume.
- LGF- 3,000 Jan 2015 $30 puts were sold for $1.34-$1.38 each, against open interest of 2,071 contracts. After coming out of the base that was put in this spring, Lions Gate Entertainment shares have been slowly trending higher. The stock has major support around the $30 level.
- PVH- The Oct $130/$135 call spread was put on 5,000 times for a $1.75 debit. Volume was above the open interest in both options. On 9/3, PVH Corp reported Q2 EPS of $1.51 vs the $1.42 estimate and revenue of $1.98B vs the $1.99B estimate. Calvin Klein sales +1% vs 0% estimate and Tommy Hilfiger sales +9% vs +9% estimate. They expect Q3 EPS of $2.45-$2.50 vs the $2.49 estimate and revenue of $2.25B vs the $2.33B estimate.
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