2015-06-04 Unusual Options Activity (ADI) (CSCO)

Posted on June 4th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-06-04 Unusual Options Activity (ADI) (CSCO)

Unusual Options Activity

  1. Analog Devices (ADI)- Roughly 5,000 Sep $72.50 calls were bought for $1.55-$1.60. There has been large buying in the Sep $70 calls since May 20th (open interest north of 13,000). On May 19th, the company reported better than expected Q1 results (trades at a reasonable PEG ratio of 1.09x).
  2. Cisco Systems (CSCO)- 100,000 Aug $30 calls were sold for $0.50-$0.54. The stock has struggled this year to close above $30 on a weekly basis. He/she is likely selling these calls against an existing stock position, creating a covered call.
  3. Mattel (MAT)- The Jan 2016 $18/$25 bear put spread was put on 3,153 times for a $2.00 debit. Shares trade at a rich 18.87x 2015 earnings for a company that is projected to see both the top and bottom shrink compared to 2014. The long-term downtrend remains intact (next major support level is at the April lows near $22).
  4. Mobileye NV (MBLY)- A rollout from 2,200 June 19 $41 calls ($5.00 credit) into 5,000 Sep $50 calls ($2.20 debit). Open interest in the Sep $50 calls was 4,663 contracts. Citigroup upped their price target to $70 from $62 on May 21st after meeting with management.
  5. Shell Midstream Partners (SHLX)- 2,000 June $50 calls were purchased for $0.39-$0.50, against open interest of 1,499 contracts. There was sizable buying in these on May 14th too. They reported a 43.2% increase in Q1 revenue on May 13th. The President/CEO will retire on June 30th.
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