2015-06-02 Unusual Options Activity (BIG) (HRTX)

Posted on June 2nd, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-06-02 Unusual Options Activity (BIG) (HRTX)

Unusual Options Activity

  1. Big Lots (BIG)- Roughly 1,200 July $47.50 calls were bought for $1.00-$1.20, against open interest of 1,690 contracts. Call activity was 6x the average daily volume. On May 4th, 1,600+ of these calls were bought on $2.05. Barclays upgraded them overweight from equal weight today with a $53 price target. Comps were +1.6% for Q1 last week.
  2. Citigroup (C)- 12,000+ June 19 $55 calls were bought for $0.72-$0.77, against open interest of 40,017 contracts. They got an upgrade from Goldman Sachs yesterday to buy with a $61 price target.
  3. Heron Therapeutics (HRTX)- A rollout from 2,500 Sep $17.50 calls ($6.80 credit) into 5,000 Sep $25 calls ($3.40 debit). Later in the day, there was another rollout from 1,250 Sep $17.50 calls ($6.35 credit) into 2,500 Sep $25 calls ($3.05 debit). Traders have been rolling call positions and buying calls prior to their Phase 3 study results and afterwards.
  4. Kroger (KR)- Nearly 2,000 June $72.50 calls were bought for $1.55-$1.60, against open interest of 3,136 contracts. Earnings are due out on June 18th (has moved higher after earnings on 4 straight reports).
  5. Energy Select Sector SPDR Fund ETF (XLE)- A rollout from 15,000 June 5 weekly $79.50 puts ($1.60 credit) into 15,000 June 5 weekly $77.50 puts ($0.55 debit). The $79.50 puts were initially bought on May 18th for $0.89-$0.97, but he/she is still willing to hold a put position into tomorrow’s weekly crude oil inventory report at 10:30 A.M. EST.
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