Unusual Options Activity

Gold Fields (GFI)- 3,000 Oct $4 puts were sold for $0.69. They reported a 10% decline in gold production in Q1, but the stock is trying to bottom at the March lows near $3.60.
Mylan (MYL)- The July $65/$80 bull risk reversal was put on 2,870 times for a $0 debit. Volume was below the open interest in both options. Mylan is still committed to acquiring Perrigo is a stock and cash deal, which is also an effort to avoid being taken over by a larger competitor. Teva Pharmaceutical offered MYL $82 per share value in a stock/cash deal to acquire them recently.
Workday (WDAY)- Roughly 2,750 Sep $105 calls were purchased for $3.10-$3.40 and 2,000 Sep $80 puts were sold for $4.00-$4.20. Nearly 5,000 WDAY Sep $105 calls have been bought and 6,000 Sep $80 puts have been sold … Read More »

Unusual Options Activity

Advanced Auto Parts (AAP)- A rollout from 3,500 May $150 puts ($5.10 credit) into 3,500 June $135/$145 put spreads ($3.90 debit). The May $150 puts were initially bought for $4.00-$4.10 on April 23rd. Earnings are due out on May 21st (shares dropped on the last two reports). The stock is starting to breakdown below the 40-week SMA (200-day SMA).
Bloomin’ Brands (BLMN)- 2,100+ Oct $20 puts were sold for $0.85-$0.90. He/she sees the downside risk being limited to about $2 (already down $4 from the March high). The company reported Q1 US comps at +3.6%, but the light 2015 revenue guidance is weighting on shares today.
Dillard’s (DDS)- The June $110/$125 bear put spread was put on 1,000 times for a $3.15 debit. Earnings are due out on May 14th. The stock has been rolling over in recent weeks, which … Read More »