2015-05-28 Unusual Options Activity (MRVL) (XOMA)

Posted on May 28th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-05-28 Unusual Options Activity (MRVL) (XOMA)

Unusual Options Activity

  1. ConocoPhillips (COP)- The June 26 weekly $62.50/$60.50 1×2 ratio bear put spread was put on 2,888 times for a $0.03 debit. Shares put in a lower high in April and are now poised to retest the low $60’s.
  2. eBay (EBAY)- Nearly 8,000 July 17 $62.50 calls were purchased for $0.70-$0.76 early this morning (13,000+ traded now), against open interest of 12,157 contracts. Axiom upgraded them to buy with a $70 price target on May 26th. They see the PayPal spinoff and other spinoffs as a positive later this year.
  3. Marvell Technology Group (MRVL)- 3,500 Aug $16 calls were purchased for $0.33, against open interest of 15,205 contracts. There was large buying in the July 17 $14 calls yesterday. The AVGO/BRCM deal is providing a lift for some of the semiconductor stocks.
  4. OvaScience (OVAS)- A rollout from 2,000 June $35 calls ($1.10 credit) into 2,000 Sep $35/$55 bull call spreads ($4.00 debit). Wedbush reiterated their outperform rating and a $52 price target on May 23rd. OVAS will present at Jefferies 2015 Global Healthcare Conference on June 1st.
  5. XOMA Corp (XOMA)- 10,000 Sep $4 calls were bought for $1.10-$1.15, against open interest of 22,425 contracts. 20,000 were bought on May 8th for $0.90-$1.20. This morning, they said their Phase 3 Eyeguard study reached its target exacerbation event. Primary endpoint result due in July.


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