Unusual Options Activity
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.
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.
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.
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