Unusual Options Activity
Johnson & Johnson (JNJ)- 6,100 May 22 weekly $98.50 puts were sold for $1.23. They had a slight beat on Q1 results this morning, but they lowered FY15 EPS guidance on FX concerns.
JPMorgan Chase (JPM)- 5,500 May 22 weekly $61.50 puts were sold for $0.77. They beat Q1 EPS estimates by $0.05 today; equity market revenue was up 22%. The stock is breaking out above the $62 resistance level.
NetApp (NTAP)- Nearly 7,000 May 15 $36 calls were bought for $0.67-$0.82 in early trading (now more than 12,000 traded). Call activity was 8x the average daily volume as implied volatility spiked 10.6% to 24.78. NTAP has no major resistance until the 50-day EMA (currently at $37).
Skyworks Solutions (SWKS)- 2,500 May 15 $100 puts were bought for $7.10-$7.90. Earnings are due out on April 30th (shares have moved higher after … Read More »
DFS Earnings Preview- Highlighted buying in the July $65 calls earlier today. Call to put ratio at 3:1. Stock put in a higher low on the weekly chart over the past two weeks and has moved higher after earnings on the past two reports. Average analyst price target of $63.50.
FTI Earnings Preview- Over 1,500 May $57.50 calls were bought for $0.65-$0.80 each today ahead of earnings tonight. Typically trades 275 calls per day. Call to put ratio is 13:1. This oil related services & equipment company has no major resistance until the $58-$60 level. Trades at a forward PEG ratio of 0.92x (2014 estimates), 8.7% revenue growth, and has an average analyst price target of $62. The stock has moved lower on the last three reports, but has moved higher on three of the four reports before then.
IGT Earnings … Read More »