Unusual Options Activity

Best Buy (BBY)- Roughly 2,700 May 15 $35.49 puts were bought for $0.74-$0.76. Earnings are due out in late May. The stock had been trading in an uptrend for about a year, but is starting to rollover.
BioDelivery Sciences International (BDSI)- The Dec $7.50/$10/$15 bull call spread risk reversal was put on 2,500 times for a $0.40 debit. Wells Fargo said Endo is likely to go after another deal after losing Salix Pharmaceuticals and named BioDelivery as a candidate.
MasterCard (MA)- 6,600 May 29 weekly $88 puts were sold for $1.16. Earnings are due out on April 29th (shares have moved higher on 3 out of the last 4 reports). There was a report out today that China will allow foreign companies to set up bank card-clearing businesses.
Micron Technology (MU)- 15,000 June $30 calls were bought for $0.79-$1.07, against open … Read More »

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Trading Visa After Today’s Bounce

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