2014-10-14 Smart Money Report (ABG) (CHK)

Posted on October 14th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-10-14 Smart Money Report (ABG) (CHK)

Smart Money Report

  1. ABG- The Apr 2015 $60/$65 bull risk reversal was put on 1,600 times for a $0.90 debit. Volume was above the open interest in both options. On average, only 22 options trade per day. Asbury Automotive Group has earnings due out on October 21st. The stock has only dropped once after earnings in the last six reports.
  2. AMJ- A rollout from 11,000 Nov $48 puts (credit) into 20,000 Nov $44 puts (debit). Volume was above the open interest in the Nov $44 puts. Top ten holdings in the Alerian MLP Index: EPD KMP ETP PAA MMP MWE BPL RGP OKS WPZ
  3. CHK- A rollout from 6,952 Nov 22 $19 puts (credit) into 6,952 Nov 22 $17 puts (debit). Volume was above the open the open interest in Nov 22 $17 puts. The Nov 22 $19 puts were initially bought on 10/9-10/10. Chesapeake Energy has earnings due out on November 5th.
  4. JCP- A likely rollout from 12,000 Jan 2016 $5 puts (credit) into 15,000 Jan 2017 $4 puts (debit). Volume was above the open interest in the Jan 2017 $4 puts. J.C. Penney announced that Marvin Ellison (from Home Depot) would become the next CEO yesterday.
  5. SUNE- 15,000 Jan 2015 $12 puts were bought for $1.11-$1.20 each, against open interest of 18,373 contracts. Falling oil prices continue to weight on solar companies like SunEdison.

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