2015-03-31 Unusual Options Activity (TAP) (YHOO)

Posted on March 31st, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-03-31 Unusual Options Activity (TAP) (YHOO)

Unusual Options Activity

  1. Huntsman (HUN)- Another 1,500 Jan 2016 $22 calls were bought for $2.50-$2.55, against open interest of 10,601 contracts. This is the 3rd straight day of buying (open interest was just 571 contracts on March 27th). Earnings estimates have fallen, but shares currently trade at a P/E ratio under 10x (2015 estimates), price to sales ratio of 0.46x, and a price to book ratio of 3.01x.
  2. Lumber Liquidators (LL)- The Apr 10 weekly $31/$36 bull call spread was put on another 3,000 times for a $2.20 debit. This trade was done yesterday as well.
  3. Molson Coors (TAP)- 11,000+ May $77.50 calls were purchased for $2.40-$2.60. Just a few minutes later 16,000 Apr $77.50 calls were sold for $0.85-$1.00 (likely a roll from Apr calls into May calls). Call activity was 9x the average daily volume.
  4. United States Steel (X)- 4,000 May 15 $25 puts were purchased for $1.91-$2.00. The put to call ratio was 2:1. Earnings are due out on April 28th. On February 18th, Citigroup lowered their price target to $17 from $19, keeping the sell rating.
  5. Yahoo! (YHOO)- 2,500 June $44 calls were bought for $3.05-$3.15. Last week, the board of directors approved a new $2B share repurchase program.
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