Unusual Options Activity

Andarko Petroleum (APC)- Another 9,000 Aug $95 calls were purchased for $2.20-$2.31 each, against open interest of 18,856 contracts. There was large buying on March 6th and 16th too that led to the 18,000+ in open interest.
Caesars Entertainment (CZR)- A rollout from 5,000 Mar 27 weekly $10 calls ($0.10 credit) into 5,000 Apr 2 weekly $10 calls ($0.40 debit). The trader is booking a $0.40 loss on the Mar 27 weekly calls, but wants to extend the trade an additional week.
Ensco (ESV)- The June $16/$20 bear put spread was put on 10,000 times for a $0.95 debit. (NOV) is a provider of drilling equipment and components and (ESV) is an offshore driller. Both seeing bearish options activity.
National-Oilwell Varco (NOV)- The Aug $37.50/$47.50 bear put spread was put on another 4,000 times for a $2.66 debit. This trade was put on … Read More »

Smart Money Report

AAL- 3,000 Oct 31 weekly $32.50 puts were purchased for $2.25 each, against open interest of 127 contracts. Earnings are due out on 10/23. The stock is on pace to close below the $32 support level from April. Given how the puts are in-the-money already it is unlikely to be a hedge on American Airlines.
CSCO- 7,500 Jan 2015 $25 calls were purchased for $0.48 each, against open interest of 85,742 contracts.
CSCO- 10,000 Dec $25 calls were purchased for $0.44-$0.47 each, against open interest of 6,291 contracts. Following the lower guidance from Microchip Technology (MCHP) this morning, maybe tech stocks including Cisco Systems had a sizable pullback.
CZR- 5,000 Dec $10 puts were bought for $1.65-$1.75 each, against open interest of 5,044 contracts. The casino stock bear market (Caesars Entertainment included) has been in place since late Q1.
RICE- A rollout … Read More »

Unusual Options Activity

In today’s Unusual Options Activity Report we highlight put buying in American Airlines (AAL) and Caesars Entertainment (CZR).

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