2015-05-05 Unusual Options Activity (AAP) (BLMN)

Posted on May 5th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-05-05 Unusual Options Activity (AAP) (BLMN)

Unusual Options Activity

  1. Advanced Auto Parts (AAP)- A rollout from 3,500 May $150 puts ($5.10 credit) into 3,500 June $135/$145 put spreads ($3.90 debit). The May $150 puts were initially bought for $4.00-$4.10 on April 23rd. Earnings are due out on May 21st (shares dropped on the last two reports). The stock is starting to breakdown below the 40-week SMA (200-day SMA).
  2. Bloomin’ Brands (BLMN)- 2,100+ Oct $20 puts were sold for $0.85-$0.90. He/she sees the downside risk being limited to about $2 (already down $4 from the March high). The company reported Q1 US comps at +3.6%, but the light 2015 revenue guidance is weighting on shares today.
  3. Dillard’s (DDS)- The June $110/$125 bear put spread was put on 1,000 times for a $3.15 debit. Earnings are due out on May 14th. The stock has been rolling over in recent weeks, which could lead to a test of the $125 support level.
  4. Spectra Energy (SE)- A rollout from 10,000 May $38 calls ($0.05 credit) into 10,000 June $35/$38 bull risk reversals ($0.02 debit). Earnings are due out tomorrow morning.
  5. Workday (WDAY)- Another 1,100+ Sep $105 calls were bought for $3.50, against open interest of 3,828 contracts. The Sep $80/$105 bull risk reversal had been put on about 3,600+ times in the last week.
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