Unusual Options Activity
C- In the first two hours of trading call activity was more than 50% above the average daily volume at 86K+ contracts. This action was primarily buying in the Mar 20 option expiration (buyer of 7,500 Mar 20 $54.50 calls for $0.83). In total the call to put ratio was just under 3:1. Citigroup shares are up for the fifth consecutive week, but still have room to run before hitting near-term resistance at the $55 level. The stock trades at a P/E ratio of 10.04x (2015 estimates), price to sales ratio of 2.31x, and a price to book ratio of 0.81x. This morning JPMorgan Chase upgraded shares to overweight from neutral and raised their price target to $58 from $54. See below on SpringLeaf about the recent deal they did that is helping both stocks.
FAST- Someone rolled out … Read More »
Unusual Options Activity
ADSK- Call activity was 2x the average daily volume, which was led by buying in the Feb $55, Mar $57.50, Apr $57.50, and Jan 2016 $57.50 calls. Volume was above the open interest in all four options. The call to put ratio was 9:1 and implied volatility rose 7.8% to 30.17. This bullish activity follows a seller of more than 5,000 Feb $52.50 puts on February 2nd. Shares of Autodesk have been in the process of putting in a bottom this week. Read more about the company and Monday’s unusual options activity here.
BWLD- Roughly 1,500 Feb $170 puts were bought for $4.00 each, against open interest of 646 contracts. The put to call ratio is 1.5:1 and put activity is over 4x the average daily volume (IV +5.3% to 46.68). This trade comes just one day before Buffalo … Read More »
Smart Money Report
BAC- Bank of America will report Q4 earnings before the bell tomorrow morning. Analysts are looking for $0.26 in EPS and revenue of $21.2 billion. The options market is implying a $0.55 move, or 3.29%, in either direction through Friday’s close. Call to put ratio in (BAC) options is 3.52, led by large call and put selling.
FAST- Fastenal will also be releasing Q4 earnings in the morning. Analysts are looking for $0.35 in EPS and revenue of $814 million. Options traders are pricing in a $2.10 move, or 4.36%, in either direction through Friday’s close. The call to put ratio in (FAST) options is 7.55, led by sizable January call selling and February call buying.
EBAY- A rollout from 31,700 Jan. 24 weekly $52 calls (credit) into 31,700 Feb. $52.50 calls (debit). Volume was above the open interest Feb. … Read More »