Unusual Options Activity

1. BP p.l.c (BP)- 3,000 July 17 $40 puts were bought for $0.49, against open interest of 3,810 contracts. The stock is on pace to close below the 100-day SMA for the first time since March.
2. InfraREIT (HIFR)- 2,000 Aug $35 calls were purchased for $0.85-$0.95. Call activity was 8x the average daily volume. Hunt Consolidated (large HIFR shareholder) is looking at acquiring assets from Energy Future. On June 16th, Macquarie initiated HIFR with an outperform rating and a $36 price target.
3. Williams Companies (WMB)- The Sep $50/$60/$67.50 bull call spread risk reversal was put on 7,500 times for a $0.48 debit. Last week,  Energy Transfer Partners offered to acquire WMB for $64 per share. This has since been rejected as too low of an offer.
4. Materials Select Sector SPDR Fund (XLB)- 10,000+ July 2 weekly $49 puts were purchased for $0.38-$0.42. The XLB contains stocks like DD DOW MON LYB and PX. It is down for the 5th straight day, now slicing through the 200-day simple moving average.
5. Yelp (YELP)- There was a rollout from 15,000 July 17 $50 calls ($1.00-$1.04 credit) into 15,000 Aug 21 $50 calls ($3.10-$3.14 debit). Earnings are due out on July 29th. The more important potential catalyst is the sale of the company. They had reportedly hired bankers in May to help in the search.

BP HIFR unusual options activity WMB XLB YELP