Archive for February 24th, 2011
Trade of the Day — WMT Diagonal Spread
For today’s Trade of the Day, we are going to open another diagonal call spread, similar to the Sep 52.5 – Jan 55 spread we initiated many months ago. WMT fell on disappointing earnings growth numbers and is down almost 10 percent since January 27. That’s a very big move for the world’s largest retailer. [...]
Option Volume Leaders as of 4:20 PM
Symbol Name Contracts Calls Puts Spot (Delayed) Spot Chg C Citigroup Inc 647,422 55.9% 44.1% $4.69 -0.01 AAPL Apple Inc 409,005 59.5% 40.5% $342.88 +0.26 BAC Bank of America Corporation New 370,595 62.1% 37.9% $13.97 -0.20 GM General Motors Company 252,768 69.5% 30.5% $33.02 -1.57 F Ford Motor Company 241,202 66.3% 33.7% $14.7 -0.16 CSCO [...]
GMX Resources Inc (GMXR) $4.87 +4.51%
GMX Resources (GMXR), an Oklahoma City oil and gas driller, adds 17 cents to $4.83 and today’s options volume of 7700 calls/1025 puts is 5.5X the average. Looks like upside call buyers are taking positions in March 5, Mar 6, and May 5 calls. The May 5s are the most actives.. 3914 traded (64 percent [...]
United Continental Holdings Inc (UAL) $24.14 +5.97%
UAL adds $1.46 to $24.24 and a well-timed spread in the airliner today is an Apr 22 – 27 (1X3) call ratio spread at 95 cents, 1900X in morning action. Shares were at $23.18 and have since moved up 4.6 percent. UAL had suffered a four-day 17.1 percent slide prior today after rallying crude oil [...]
MGM Resorts International (MGM) $13.66 +1.26%
MGM adds 13 cents to $13.62 and 27,000 calls traded on the casino-operator today, which is not unsual volume, but compares to put volume of 8,550 contracts. March 13 calls are the most actives. 4,900 traded and 82 percent of the volume at the Ask. Looks like some of the volume in March 14, March [...]
Quicksilver Resources Inc (KWK) $15.63 +2.16%
QuickSilver Resources (KWK), the Fort Worth, TX independent oil and gas company, saw increasing call activity yesterday (see 2/23 color) and a noteworthy spread trade today. Shares have added 28 cents to $15.58 and it appears that the March 15 – 16 call spread was bought at 45 cents, 7000X. It might be rolling or [...]
Kodiak Oil and Gas Corporation (KOG) $7.08 +3.36%
Kodiak Oil and Gas (KOG) notches a new 52-week high today and is up 24 cents to $7.09. Today’s options volume of 5,670 calls and 420 puts is 8X the average daily. The Mar and Jun 7.5 calls are the most actives, with volume in both contracts approaching 1,500. Implied volatiity in Denver-based KOG is [...]
Put/Call Ratio Leaders* as of 3:00 PM
Symbol Name Puts Calls RealTime P/C Avg P/C MENT Mentor Graphics Corp 3,342 166 20.13 0.15 SYNA Synaptics Incorporated 5,208 316 16.48 1.65 CLX Clorox Co 4,278 400 10.70 0.52 ODP Office Depot Inc 5,309 578 9.19 0.17 NWSA News Corp New 5,188 681 7.62 0.51 RCL Royal Caribbean Cruises Ltd 15,241 2,030 7.51 1.20 [...]
Brocade Communications Systems Inc (BRCD) $6.25 +1.79%
Brocade (BRCD) adds a dime to $6.24 and one strategist seems to expect the stock to hold around these levels over the next few weeks. The April 6 straddle was sold at 77 cents, 19000X.
Shutterfly Inc (SFLY) $41.98 +2.53%
Shutterfly (SFLY) adds $1 to $41.94 and a 2080-contract block of March 40 puts trades on the 70-cent bid. Looks like an opening put seller. Shares had suffered a four-day 11 percent slide prior to today. Earnings were reported on 2/2. Shares of the Redwood City, CA social networking company surged 18.1 percent on the [...]
