Author Archive: Fred Ruffy
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
Late print in 3D Systems ahead of earnings. The stock is up $1.29 to $56 and moving higher for a second day on bullish analyst commentary ahead of results tomorrow. A Jan 40- 55 put spread on the printer-maker trades for $6.15, 7000X. The position is opening and seems to be expressing concerns that shares [...]
Seeing interest in Ctrip Weekly (8/1) 68 – 72.5 call spread ahead of earnings. Looks like a buyer is paying $1 and $1.05, 2000X total, to open. Results after the bell.
Bullish theme continues in the Kinder Morgan companies. While KMI and KMP have seen notable call buying in recent weeks, Kinder Morgan Management Feb 85 calls are drawing interest as well. Players were apparently paying 85 and 90 cents to open positions on 7/17 and a 4,400-lot printed for $1.45 today when the market was [...]
Repeat call buying in Rio Tinto. Like Monday (see 7/28 color), the focus is on Sep 60s. The top trade is an opening customer buyer of 1500-contracts for $1.05 on ISE. With the stock down 69 cents to $58.20, another 5,830 Sep 60 calls traded in RIO today.
Intel attracts a noteworthy call buyer. The stock is up 7 cents to $34.26 and an 18500-lot of Aug 34s on the chip-maker traded for 59 cents on ISE. It’s an opening buyer (firm, not customer). Total volume at that strike is 19,588 against 30,652 in open interest. Sep 35s are the second most active [...]
Nearly 10,000 Sep 10 puts traded in Wisdom Tree Investments. Looks like repeat activity, as buyers were apparently buying 80, 85 and 90 cents per contract into midday. Open interest is more than 50K and the same puts saw opening activity a week ago when buyers were paying 75 and 80 cents (see 7/23 color). [...]
Impressive pre-FOMC put spread in the Financial ETF. Shares are up 2 cents to $22.80 and the Aug 19 – 21 ps on XLF trades for 2 cents, 204,000X. Looks like an opening buyer ahead of the news. The FOMC concludes its meeting and offers a statement in less than 10 minutes. The previous meeting [...]
SodaStream sees an opening risk-reversal. The stock is up $3.34 to $33.11 in the wake of earnings and has rallied 14.7% since news broke Thursday that the company is in talks about going private, according to Bloomberg. In options trading today, an investor pays even money for the Sep 30 – 35 bullish risk-reversal on [...]
American Agency Capital sees a third day of bearish flow. A sizable lot of Aug 23 puts on the REIT was opened Monday ahead of earnings (see 7/28 color) and 3,767 Sep 22 puts were opened in the name Tuesday. Shares are off 60 cents to $22.88 on a UBS downgrade today and one investor [...]
Big post-earnings print in Sprint. With the stock off 18 cents to $7.82, the investor sells 31,347 Aug 8 puts on the telecom at 20 cens per contract. 41K traded on the day and much of today’s activity might close one leg of an Aug 8 – 11 bearish risk-reversal from early-June (see 6/5 color). [...]