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Unusual Options Activity
Atwood Oceanics (ATW)- A rollout from 2,200 Apr $30 calls ($1.95 credit) into 2,200 Apr $32.50 calls ($0.60 debit). On April 1st, Cowen lowered their price target to $35 from $38, but kept their outperform rating. $34-$35 is the next major resistance level.
Delphi Automotive (DLPH)- 1,000 May $82.50 calls were purchased for $3.30-$3.40. On April 6th, there was sizable buying in the Apr $82.50 calls. Morgan Stanley raised their price target to $105 from $90 on that same day. Earnings due out on April 20th.
Lumber Liquidators (LL)- 3,000 Apr 10 weekly $34.50 calls were bought for $0.30-$0.50. The buyer of 6,000 Apr 10 weekly $31/$36 call spreads on March 30th-31st sold 1,000 of those today after selling 2,000 on April 6th-7th. Action from March 31st in (LL)
Macerich (MAC)- The June $75/$85 bull risk reversal was put on 5,000 … Read More »
Smart Money Report
BURL- The Sep $35 straddle was put on 3,000 times for a $3.35 credit. Volume was above the open interest in both options. Earnings are due out on 9/9. The trader is betting on the stock staying around the $35 level through Sep options expiration. Breakevens are at $38.35 and $32.65. The stock has moved $2-$4 the day after reporting on the 3 reports as a public company.
DKS- 3,000 Sep $46 calls were sold for $0.65 each, against open interest of 1,917 contracts. The stock has resistance in the $46-$47.50 range. They reported Q2 EPS of $0.67 vs the $0.66 estimate and revenue of $1.69B vs the $1.65B estimate this morning. They repurchased $100M in stock in the quarter. Sporting Goods comps were+4.1% while Golf Galaxy comps came in at -9.3%.
EXAS- 2,000 Oct $17 puts were sold for … Read More »