2014-09-18 Smart Money Report (ETP) (SHLD)

Posted on September 18th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-09-18 Smart Money Report (ETP) (SHLD)

Smart Money Report

  1. BAC- Another 10,000 Jan 2016 $20 calls were purchased for $0.85 each, against open interest of 446,194 contracts. Earnings are due out on 10/15.
  2. BCS- The Jan 2016 $15/$15 bull risk reversal was put on another 5,000 times for a $0.25-$0.30 debit. Volume was below the open interest in both options. This trade has now been done 25,000 times since 9/12.
  3. ETP- 5,000 Dec $60 calls were bought for $1.40 each and 5k Dec $62.50 calls were bought for $0.65 each. Volume was above the open interest in both options. Energy Transfer Partners and  Energy Transfer Equity could be the next to consolidate in the MLP space (similar to the Kinder Morgan consolidation).
  4. RAD- 10,000 Jan 2015 $5.50 puts were sold for $0.43 each, against open interest of 7,972 contracts. (RAD) beat Q2 EPS and revenue estimates this morning, but it currently down 18% on weak FY15 guidance.
  5. SHLD- 3,000 Jan 2016 $18 puts were purchased for $4.10 each, against open interest of 3,843 contracts. Sears Holdings continues to burn through cash and recently borrowed $400M from Eddy Lampert’s hedge fund.

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