Unusual Options Activity
Anadarko-Petroleum (APC)- The Jan 2016 $90/$110/$130 call butterfly was put on 5,000 times for a $2.12 debit. This trade can be up to $20 and is profitable between $92.12 and $127.88.
Cameron International (CAM)- Over 5,000 July $50 puts were purchased for $0.35-$0.60. Put activity was 14x the average daily volume (IV +22.8% to 31.84). Energy stocks remain the most active in terms of big option trades today. USO (oil ETF) is trying to hold onto the $20 level.
Chevron (CVX)- 12,124 July 17 $102 calls were bought for $0.28. CVX is down over 10% from the April highs, but it is retesting support at $97-$98.
Nabors Industries (NBR)- Another 2,300+ Aug $12 puts were bought for $0.26-$0.27, against open interest of 4,924 contracts. Over 4,800 were bought yesterday for $0.22-$0.26. A close below $14 would be a bearish signal ahead … Read More »
Smart Money Report
GS- Goldman Sachs is set to announce Q3 earnings before the bell tomorrow morning. Analysts are looking for $2.43 in EPS and revenue of $7.4 billion. The options market is implying a $4.50 move, or 2.78%, in either direction through Friday’s close. Call to put ratio in (GS) options is 2.50. Here is my commentary from last week on (GS) for TraderPlanet. http://www.traderplanet.com/commentaries/view/165098-how-to-trade-goldman-sachs-ahead-of-earnings/
IBM- International Business Machines will report Q3 earnings after the bell tonight. Analysts are looking for $3.96 in EPS and revenue of $24.7 billlion. Options traders are pricing in a $7.00 move, or 3.76%, in either direction through Friday’s close. The call to put ratio in (IBM) options is currently 1.25.
CAM- A likely rollout from 5,130 Nov. $65 calls (credit) into 5,130 Nov. $70 calls (debit). Volume was above the open interest in the Nov. $70 … Read More »