2015-07-07 Unusual Options Activity (ANAC) (ATVI)

Posted on July 7th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-07-07 Unusual Options Activity (ANAC) (ATVI)

Unusual Options Activity

  1. Anacor Pharmaceuticals (ANAC)- There was another rollout from 1,000 July $80 calls ($7.80 credit) into 1,000 Aug $90/$120 bull call spreads ($11.60 debit). This same trade occured yesterday too. The maker of Kerydin (anti-fungal toenail treatment) had its price target raised to $80 from $70 at Jefferies on July 1st. They are upbeat about upcoming Phase 3 results out within the next month or so on AN2728.
  2. Activision Blizzard (ATVI)- Over 3,200 Nov $26 calls were bought for $1.23. Today, Pacific Crest kept their overweight rating and upped the price target to $30 from $25.
  3. Corning (GLW)- There was a rollout from 5,000 July 10 weekly $20 puts ($0.77 credit) into 7,500 July 10 weekly $19.50 puts ($0.40 debit). GLW is hitting new lows amide concerns in the semiconductor industry. The cell phone screen maker will report earnings on July 28th.
  4. IMAX Corp (IMAX)- 3,000 Sep $37 puts were purchased for $2.20. Put activity was 7x the average daily volume. Shares are breaking through the 100-day SMA.
  5. Materials Select Sector SPDR Fund (XLB)- There was a rollout from 5,000 July 17 $48.50 puts ($1.40 credit) into 5,000 July 17 $47 puts ($0.58 debit). Major support is at the $46 level (January lows). The top holdings in the ETF are Dupont, Dow Chemical, Monsanto, LyondellBasell Industries, Praxair, and PPG Industries.
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