Unusual Options Activity
AK Steel (AKS)- There was a rollout from 16,431 Sep $3 puts ($0.47 credit) into 32,177 Jan 2016 $2 puts ($0.24 debit). Steel prices are hitting multi-year lows and EPS estimates continue to be revised lower because of it (-$0.47 to -$0.90 for 2015 in just three months).
Advanced Micro Devices (AMD)- There was a rollout from 10,029 Oct $2 puts ($0.32 credit) into 20,058 Jan 2016 $1.50 puts ($0.16 debit). On July 17th, Citigroup lowered their price target to $1.50 from $2 citing market share loss, burning through their cash, and weak PC demand.
Baxter International (BAX)- 15,000+ Aug 21 $38.50 calls were purchased for $0.48. Earnings are due out on July 29th. They spun off Baxalta, a developer new treatments for people with orphan diseases and underserved conditions, last month.
Citigroup (C)- 10,000+ Sep $60 calls were bought for … Read More »
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Open Interest Updates From The Previous Trading Days Action
HollyFrontier (HFC)- Mar 20 $40 call open interest went from 1,625 to 4,681 contracts (buying yesterday).
Intel (INTC)- Mar 20 $33.50 call open interest went from 3,823 to 28,567 contracts (buying yesterday).
McDonald’s (MCD)- June $97.50 call open interest went from 9,588 to 17,290 contracts (buying yesterday).
Marvell Technology (MRVL)- Apr 17 $18 call open interest went from 3,042 to 10,549 contracts (buying yesterday).
Nucor (NUE)- Mar 20 $47 call open interest went from 452 to 6,007 contracts (buying yesterday).
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