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Unusual Options Activity
Axis Capital (AXS)- The July/Aug $55 put calendar was put on 3,265 times for a $0.90 debit. Ideally in this trade he/she wants AXS to stay above $55 through July expiration and then drop through August options expiration (earnings are due out on July 28th).
Chesapeake Energy (CHK)- 60,000 Sep $8 puts were sold for $0.28. In 2008, shares bottomed at $8.43 (2003 was the last time it was below $8). The stock trades at 0.68x sales (2015 estimates).
Del Frisco’s Restaurant (DFRG)- There was a rollout from 5,000 Aug $20 calls ($0.30 credit) into 3,000 Aug $17.50 calls ($1.25 debit). Earnings are due out on July 23rd (shares has moved higher after earnings on 5 out of the last 6 reports).
Immunomedics (IMMU)- 6,000 Aug $4 puts were sold for $0.95, against open interest of 7,389 contracts. The small cap … Read More »
Smart Money Report
GOGO- Gogo is set to announce Q4 earnings before the bell tomorrow morning. Analysts are looking for -$0.27 in EPS and revenue of $85.4 million. The options market is implying a $3.45 move, or 14.27%, in either direction through Mar. options expiration. Call to put ratio in (GOGO) options is currently 4.17, led by buying in the Mar. and Apr. calls. The stock has moved higher on the previous earnings reports.
PLUG- Another notable name to release earnings in the morning is Plug Power. Analysts are looking for -$0.08 in EPS and revenue of $7.5 million. Option traders are pricing in a $2.05 move, or 30.37%, in either direction through Mar. options expiration. The call to put ratio in (PLUG) options is 1.33, led by a seller of 1,500 Mar. 2014 $8 puts for $2.35 each. The stock has … Read More »
Smart Money Report
MRK- Merck is set to announce Q3 earnings before the bell on Monday. Analysts are looking for $0.88 in EPS and revenue of $11.1 billion. Options traders are pricing in a $1.38 move, or 3%, in either direction through next Friday’s close. The call to put ratio in (MRK) options is currently 2.33, but the largest option trade of the day was a seller of 5,500 Jan. 2014 $45 calls for $1.80 each.
CCL- The Jan. 2016 $50/$55 call spread was put on 2,849 times for a $0.35 debit. Volume was above the open interest in both options. He/she is looking for a nearly 60% rise by January 2016 options expiration in shares of Carnival.
LRCX- 2,275 Jan. 2015 $52.50 calls were purchased for $8.20 each, against open interest of 106 contracts.
XLI- 5,500 Mar. 2014 $54 calls were purchased for … Read More »