Smart Money Report

BAC- 35,000 Aug. 16 $17 calls were bought for $0.09-$0.11 each, against open interest of 101,282 contracts. Earnings are due out on 7/16. Bank of America was upgraded at Deutsche Bank to a buy rating last night with a $18 price target.
CP- 4,300 July $175 puts were sold for $1.35 each, against open interest of 333 contracts. Earnings are due out on 7/17. Canadian Pacific Railway trades at a P/E ratio of 17.38x (2015 estimates), PEG ratio of 0.73x (2015 estimates), 7.7% revenue growth, and has an average analyst price target of $193. On 6/30, Barclays maintained a overweight rating with a $196 price target. The stock has moved higher after earnings on the last three reports.
SPLS- The Jan. 2015 $9/$13 bull risk reversal was put on 10,000 times for a $0.05 debit. Volume was above the open … Read More »

 Smart Money Report

BBY- Best Buy will report Q3 earnings before the bell tomorrow morning. Analysts are looking for $0.11 in EPS and revenue of $9.4 billion. The options market is implying a $3.40 move, or 7.74%, in either direction through Friday’s close. Call to put ratio in (BBY) option is currently 2.15.
CRM- salesforce.com will release Q3 earnings after the bell tonight. Analysts are looking for $0.09 in EPS and revenue of $1.1 billion. Options traders are pricing in a $4.80 move, or 8.52%, in either direction through Friday’s close. The call to put ratio in (CRM) options is 1.22, led by a seller of 486 Nov. 29 weekly $50 puts for $0.50.
 FXI- 10,000 Feb. 2014 $43 calls were bought for $0.67 each, against open interest of 257 contracts.
TOL- 5,562 Dec. $34 calls were sold for $1.10 each, against open interest of 2,834 … Read More »