Unusual Options Activity
In today’s Unusual Options Activity Report we highlight call buying in Covidien (COV) and put selling in InvenSense (INVN).
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Smart Money Report
BBG- 4,000 Aug. $25 puts were bought for $0.95 each, against open interest of 62 contracts. Earnings are due out on 7/31. Typically trades 218 put per day. Prior to this trade total put open interest in Bill Barrett was 7,008 contracts vs. total call open interest of 3,055 contracts.
GSAT- 5,000 Oct. $2.50 puts were sold for $0.30 each, against open interest of 216 contracts. Typically trades 83 puts per day. The uptrend on the daily an weekly charts remains intact. Globalstar is expected to narrow EPS losses from -$0.38 this year to -$0.14 in 2015. Revenue is expected to grow 20.1% next year. On 2/3, Chardan Capital reiterated a buy rating with a $6 price target.
INVN- 2,500 Aug. $27 calls were purchased for $0.80 each, against open interest of 129 contracts. Earnings are due out on 7/29. … Read More »