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Unusual Options Activity
American Express (AXP)- There was a rollout from 3,260 July 31 $76 puts ($1.64 credit) into 3,260 July 31 weekly $74 puts ($0.55 debit). On July 22nd, they reported a 4% drop in Q2 revenue (worse than expected). The strong dollar is partially responsible for the weakness.
Ball Corp (BLL)- 2,428 Feb 2016 $72.50 calls were purchased for $2.60 and 2,428 Sep $62.50 puts were sold for $0.90-$0.95. Over 12,000 remain in open interest in the Feb $72.50 calls from buying in recent months. They are trying to acquire Rexam (would combine the two largest can makers in the world), but there are still regulatory hurdles to overcome. Earnings are due out on July 30th.
Caterpillar (CAT)- There was a rollout from 4,000 Aug 21 $76 puts ($2.00 credit) into 6,000 Sep 18 $70 puts ($0.81 credit). On July 23rd, … Read More »