2015-06-09 Unusual Options Activity (A) (DSW)

Posted on June 9th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-06-09 Unusual Options Activity (A) (DSW)

Unusual Options Activity

  1. Agilent Technologies (A)- The July $37.50/$42.50 bull risk reversal was put on 3,000 times for a $0.01 debit. On May 28th, the board of directors authorized a $1.14B share repurchase program that will run through 2018 (currently using $365M that is left from an existing plan).
  2. DSW Inc (DSW)- 5,000 July $35 calls were sold for $1.00-$1.14, against open interest of 8,327 contracts. There was big buying in these calls on May 28th. However, the stock failed to make a move above resistance at the 50-day EMA.
  3. Fairway Group (FWM)- 2,000 Dec $4 puts were bought for $0.95. Put activity was 5x the average daily volume. Major support is around the $2.50 level. On May 26th, they reported their 6th straight quarterly sales decline; gross margins shrunk 20 basis points to 32.2%.
  4. Kroger (KR)- Large June and July call/put selling ahead of earnings on June 18th. Options activity was 4x the average daily volume. June options are currently pricing in a $3.20 move through the end of next week.
  5. Owens-Illinois (OI)- Another 1,100 July $25 calls were bought for $0.45-$0.50, against open interest of 1,594 contracts. This is the 2nd straight day of sizable buying in these calls. They recently purchased Vitro’s food and beverages glass container unit for $2.15B (likely will boost gross margins in the coming years).
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