2014-11-21 Smart Money Report (APC) (GME)
Posted on November 21st, by Mitchell Warren in Free Articles, Options Risk Management, Trade Ideas. Comments Off on 2014-11-21 Smart Money Report (APC) (GME)
Smart Money Report
- APC- The May 2015 $110/$125 call spread was put on another 3,000 times for a $2.00 debit. Volume was below the open interest in both options. On Wednesday, there were about 10,000 Jan 17 2015 $95 calls purchased for $2.55 each. Shares of Anadarko-Petroleum remain in the $87.50-$95 range.
- GLW- 10,000 Jan 2017 $25 calls were bought for $1.85 each, against open interest of 28 contracts. The call to put ratio in Corning is nearly 10:1. This call buyer is making a long-term bet on the stock hitting levels not seen since prior to the recession.
- GME- A rollout from 16,200 Jan 17 2015 $37 puts (credit) into 16,200 Jan 17 $33 puts (debit). Volume was above the open interest in the Jan 17 $33 puts. Last night, GameStop missed Q3 EPS and revenue estimates (comps -2.3%). They also issued weaker than expected Q4 and FY15 EPS and comp guidance.
- OC- 2,000 Dec $36 calls were purchased for $0.95-$1.00 each, against open interest of 147 contracts. Call activity is over 5x the average daily volume. My commentary on Owens Corning for TraderPlanet on November 13th.
- UBNT- Sizable selling in the Dec $28 and $29 puts this morning. Volume was above the open interest in both options. Put activity in Ubiquiti Networks is 5x the average daily volume.
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