Unusual Options Activity

1. Advanced Micro Devices (AMD)- Roughly 14,000 Aug $2.50 calls were purchased for $0.30. They’re rumored to looking at separating/ spinning off part of the business, but they have so far denied the Reuters report. Q2 earnings are due out on July 16th.
2. Chesapeake Energy (CHK)- A likely rollout from 5,000 Jan 2016 $12 puts ($2.07 credit) into 10,000 Jan 2016 $10 puts ($1.06 debit). The stock is down for the 5th consecutive week, but doesn’t have any major support until the 2008 lows near $8.50. Analyst EPS estimates for 2015 and 2016 have only worsened in recent months, falling to -$0.16 from +$0.04 for this year.

1. HCA Holdings (HCA)- The July 17 $85/$92.50 bull call spread was closed out 4,080 times for a $4.30 credit. They put this on yesterday for $1.95 debit. Hospital stocks rallied around 10 A.M. EST today, following the SCOTUS ACA ruling.
2. NCR Corp (NCR)- The July $31/$33 bull risk reversal was put on 5,000 times for a $0.15 debit. PE firms are reportedly interested in acquiring the company.
3. Penn Virginia (PVA)- 4,000+ July $5 calls have traded with the majority being bought for $0.25-$0.40, against open interest of 5,372 contracts. There were rumors of BP looking at acquiring them for $8 per share today.

AMD CHK HCA NCR PVA unusual options activity