2014-09-24 Smart Money Report (EGO) (WFC)

Posted on September 24th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-09-24 Smart Money Report (EGO) (WFC)

Smart Money Report

  1. EGO- 8,000 Apr 2015 $7 puts were sold for $0.77-$0.78 each, against open interest of 798 contracts. There was selling in the Nov $7 puts today as well. Put activity in Eldorado Gold is 23x the average daily volume.
  2. MU- 9,000 Oct 18 $29 calls were purchased for $3.45 each, against open interest of 24,535 contracts. Earnings are due out tomorrow afternoon. The options market is implying a $2.50 move. The stock has moved higher after earnings on 4 out of the last 7 reports (up after the last one). Micron Technology shares held on the retest of the 100-day SMA yesterday.
  3. TMUS- The Jan 2015 $27/$28/$32 bull risk reversal was put on 5,000 times for a $0.38 debit. Volume was above the open interest in the Jan 2015 $28 and $32 calls. There have been reports that Iliad is looking into raising their bid from $33 per share for T-Mobile US to $35-$40 per share for up to 90% of the company.
  4. WFC- Another 8,500 Oct 10 weekly $51.50 puts were sold for $0.38 each, against open interest of 11,028 contracts. 10,000 were sold for $0.36 on 9/16. Wells Fargo earnings aren’t due out until 10/14.
  5. XOP- A rollout from 10,000 Oct 18 $73 puts (credit) into 15,000 Oct 18 $69 puts (debit). Volume was above the open interest in the $69 puts. Green Plains (GPRE), VAALCO Energy (EGY), and Emerald Oil (EOX) are the three largest weightings in the ETF.

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