Archive for April 20th, 2009

Melco Crown Entertainment Ltd (MPEL) $4.21 -7.06%

A massive spread surfaced in Melco Crown Entertainment (MPEL) an hour before the closing bell Monday when a strategist bought 18.2K Jan-10 calls at the $7.5 strike for 70 cents and sold 18.2K Jan-10 calls at the $12.5 strike for 10 cents on the PHLX. An exchange-floor contact confirms the spread was bought and, judging [...]

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BB and T Capital Trust V (BBT) $19.79 -15.50%

Follow-up to BB&T (BBT) trade posted Sunday (link). The spread trader who opened the positions Friday didn’t need to wait long for a nice profit. Shares opened for $21.56 and finished the day down $3.63 to $19.79. Ouch. The May 22.5 – 19 put spread has widened to $1.80 from 80 cents. The max profit potential [...]

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Monday’s Options Recap

Renewed fear about the financials sends stocks reeling. Read More.

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Texas Instruments (TXN) $17.38 -3.28%

Analysts expect Texas Instruments (TXN) to post a 2-cent per share loss on $1.9 bln in revenues for the most recent quarter, down considerably from the 49-cent profit on $3.3 bln a year ago. Shares jumped in March when TI narrowed its outlook to beteen $1.79 and $2.05 bln. Given the recent rebound in the [...]

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Coca Cola Enterprises Inc (CCE) $15.94 +7.05%

Updated with story link (15:45): Coca Cola Enterprises (CCE) is up $1.10 to $15.99 and options volume is running 4X the usual. Some investors are probably buying shares and looking for additoinal upside in CCE after Pepsico (PEP) said it was buying Pepsi Bottling (PBG) for $29.50, which might now put CCE in play (Link [...]

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United States Oil Fund LP (USO) $27.12 -7.91%

US Oil Fund (USO) fell $2.37 to $27.08 following a tough day for crude oil. Prices slipped, as weakness in the financials and the broader market revived worries about global demand. Crude fell $4.55 to $45.78. In the options market, some investors appear to view the decline in the USO, an exchange-traded fund that tracks [...]

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MicroStrategy Inc (MSTR) $38.84 -2.88%

Microstrategy (MSTR) is down $1.19 to $38.80 and options volume rose to 5X the normal levels Monday. Most of the action was in the May 35 puts and appears to be driven by put sellers. Three large blocks (1,700, 1,500, and 1,150 contracts) traded for 85 cents when the bid-ask spread was 85 to 95 [...]

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Kinross Gold Corporation (KGC) $14.61 +5.95%

Kinross Gold (KGC) is up 86 cents to $14.65 after gold gained $16.50 to $884.40 an ounce Monday. One strategist seems to expect shares of the gold miner to stay around $15 per share and sold the June 14 put – June 16 call strangle 5000X for $2.30. Since there is no existing open interest [...]

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SLM Corporation (SLM) $4.34 -11.79%

SLM Corp. (SLM) is down 59 cents to $4.33, but sentiment in the options market seems bullish Monday. May 5 calls are the most actives, with 7,300 traded and 80 percent hitting ask-side of the bid-ask spread. While existing open interest is 7,795 contracts, ISE sentiment data suggest that 90 percent of the call volume [...]

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Bank Bailout Into Equity?

NYT: A Possible “Back Door” to Nationalization.  Read More.

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