2015-05-19 Unusual Options Activity (BGCP) (BK)

Posted on May 19th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-05-19 Unusual Options Activity (BGCP) (BK)

Unusual Options Activity

  1. BGC Partners (BGCP)- Another 2,500+ Aug $10 calls were sold for $0.25, against open interest of 23,553 contracts. There was selling in these yesterday. On May 6th, roughly 10,000 of these calls were sold as well. The large trader who built up this position in late 2014/early 2015 appears to be in the process of closing it out.
  2. Bank of New York Mellon (BK)- A rollout from 2,500 June 19 $42 calls ($1.72 credit) into 1,700 July $44 calls ($1.00 debit) and 1,700 July $45 calls ($0.65 debit). The $49B global investments firm hit a new high early this morning.
  3. DSW Inc (DSW)- 1,500 July $35 calls were purchased for $2.20-$2.45. Call activity was 4x the average daily volume. Q1 results are due out on May 27th (shares have moved higher after earnings on 3 consecutive reports). This morning, Sterne Agee reiterated their buying rating and a $45 price target.
  4. Coca-Cola (KO)- 10,000 Aug $43 calls were bought for $0.39-$0.41, against open interest of 13,900 contracts. There has been massive bullish options activity recently (July call buying and June put selling).
  5. Pfizer (PFE)- 10,000 June 19 $34.50 calls were bought for $0.40-$0.43, against open interest of 6,073 contracts. 200,000+ combined are in open interest in the June 19 $34 and $35 calls. Would look for them to step into the biotech M&A arena like others have (possibly within the next month given the order flow into June calls).
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