2014-12-18 Smart Money Report (BBRY) (COP)

Posted on December 18th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2014-12-18 Smart Money Report (BBRY) (COP)

Smart Money Report

  1. BBRY- A rollout from 30,000 Dec 20 $10 puts (credit) into 30,000 Feb 2015 $10 puts (debit). Volume was above the open interest in the Feb 2015 $10 puts. Earnings are due out tomorrow morning. BlackBerry shares have moved higher after earnings on 4 out of the last 7 reports, which could be why they are rolling out the trade to February.
  2. COP- A rollout from 15,000 Jan 17 2015 $67.50 calls (credit) into 30,000 Jan 17 2015 $70 calls (debit). Volume was above the open interest in the Jan 17 2015 $70 calls. Despite the weakness in oil prices today, ConocoPhillips is up over 2% and nearing a retest of the 50-day exponential moving average.
  3. FEYE- The June 2015 $35/$45 call spread was put on 4,000 times for a $2.00 debit. Volume was above the open interest in both options. Net call premium in FireEye is +$1.7M vs net put premium of -$136K.
  4. HCBK- 10,000 Jan 2015 $10 calls were bought for $0.35 each, against open interest of 325 contracts. This was tied to 500,000 Hudson City Bancorp shares. Typically trades 76 calls per day. The $5B bank is nearing a retest of the $10 level. On December 17th, Zacks upgraded the stock to outperform from neutral with a $10.50 price target.
  5. MDR- A rollout from 3,750 Jan 2016 $7 puts (credit) into 4,000 Jan 2016 $4 puts (debit). Volume was above the open interest in the Jan 2016 $4 puts. Put activity is over 2x the average daily volume. He/she is taking profits on the $7 puts, but still believes there could be more downside to come in McDermott International shares over the next year.

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