Unusual Options Activity
1.TTM Technologies (TTMI)- 5,000 June 2017 $17.50 calls were bought for $0.65 vs total call open interest of just 1,663 contracts (implied volatility +11.3% to 46.99). On average, 65 calls trade per day in the $1.4B semiconductor company.
2.Ocean RIG UDW (ORIG)- 5,000 Dec $2 puts were bought for $0.15 with put activity 30 times the average daily volume. Earnings are due out on December 14th (shares dropped on the last 2 reports).
3. ILG, Inc. (ILG)- There was a rollout from 10,000 Mar 2017 $17 puts ($0.33-$0.36 debit) into 10,000 Jan 2019 $17 puts ($1.58-$1.61 credit). This trader is making a long-term bet that the leisure and travel company will remain above $17 by January 2019 options expiration.
4. Hain Celestial (HAIN)- There was a rollout from 3,000 Dec $40 calls ($0.45-$0.46 credit) into 3,000 Jan 2017 $42.50 calls ($0.80 … Read More »
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Unusual Options Activity
American Eagle Outfitters (AEO)- 3,000+ Aug 7 weekly $17.50 calls were purchased for $0.55-$0.60. The uptrend in shares remains in place as EPS estimates for 2015 and 2016 continue to trend upward.
EMC Corp (EMC)- There was a rollout from 6,000+ Aug 21 $29 calls ($0.15 credit) into 6,000+ Aug 21 $27 calls ($0.64 debit). Earnings are due out on July 22nd. EMC has been range bound between $26 and $27.50 since April. The company doesn’t plan on breaking up despite investor pressure to do so.
Maxim Integrated Products (MXIM)- 6,000 Aug $35 puts were purchased for $2.09-$2.15. Put activity was 9x the average daily volume. Earnings are due out on July 23rd. MXIM shares gapped down by about 8% on the previous earnings report. After recent deals in the semiconductor space they are considered a takeover target.
Texas Instruments (TXN)- … Read More »
Smart Money Report
FCX- Freeport-McMoRan Copper & Gold will report Q4 earnings before the bell tomorrow morning. Analysts are looking for $0.81 in EPS and revenue of $6.4 billion. The options market is implying a $1.32 move, or 3.72%, in either direction through Friday’s close. Call to put ratio in (FCX) options is currently 1.03, led by activity in the Jan. 24 weekly $33.50 puts.
TXN- Texas Instruments is set to announce Q4 earnings after the bell tonight. Analysts are looking for $0.46 in EPS and revenue of $3.0 billion. Option traders are pricing in a $1.42 move, or 3.24%, in either direction through Friday’s close. The put to call ratio in (TXN) options is 1.54, led by a buyer of 5,500 Feb. $45 calls for $0.46 each.
BAC- The Aug. $15/$20 bear risk reversal was put on 20k times for a $0.12 … Read More »