2015-07-10 Unusual Options Activity (AXS) (CHK)

Posted on July 10th, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-07-10 Unusual Options Activity (AXS) (CHK)

Unusual Options Activity

  1. Axis Capital (AXS)- The July/Aug $55 put calendar was put on 3,265 times for a $0.90 debit. Ideally in this trade he/she wants AXS to stay above $55 through July expiration and then drop through August options expiration (earnings are due out on July 28th).
  2. Chesapeake Energy (CHK)- 60,000 Sep $8 puts were sold for $0.28. In 2008, shares bottomed at $8.43 (2003 was the last time it was below $8). The stock trades at 0.68x sales (2015 estimates).
  3. Del Frisco’s Restaurant (DFRG)- There was a rollout from 5,000 Aug $20 calls ($0.30 credit) into 3,000 Aug $17.50 calls ($1.25 debit). Earnings are due out on July 23rd (shares has moved higher after earnings on 5 out of the last 6 reports).
  4. Immunomedics (IMMU)- 6,000 Aug $4 puts were sold for $0.95, against open interest of 7,389 contracts. The small cap biotech has Phase 3 data results due out soon and they have a BLA filing expected later this year for immune deficiency diseases.
  5. Industrial Select Sector SPDR Fund (XLI)- 10,000 July 17 $54 puts were bought for $0.47-$0.49, against open interest of 8,214 contracts. Yesterday, 7,500 July 24 weekly $53.50 puts were purchased for $0.64. GE, 3M, United Technologies, Boeing, and Union Pacific are the top five holdings in the ETF (roughly 13% weighting combined).
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