Mannkind Nov – May 12 put spread for 70 cents, 10000X on ISE. With the stock off a nickel to $6.10, the customer is rolling out a block of puts to May. The deep ITM November 12s appear to be closing positions opened in Jun, July and August. The stock hit a 52-week high on [...]
Intel calls remain actively traded after the stock rallied 4.7% on guidance yesterday. Shares are giving back 40 cents to $35.55 today. Total options volume on the chipmaker is 147,000 calls and 41,000 puts. The flow is not as bullish as one might think, however, as one player sold-to-open an 11000-lot of Feb 40 calls [...]
Sirius call buyer. The stock is flat at $3.55 and a 21000-lot of Jan2016 4 calls on the satellite radio company is bought for 25 cents, 21000X. It might add to positions opened in February when the Jan2016 4 – 5 call spread on SIRI was bought for 25 cents, 25000X. 22,250 traded at that [...]
Another longer-term call buyer in Corning. An investor opened 9200 Jan2016 25 calls on the glass company yesterday (see 11/20 color). Shares are up 20 cents to $20.81 and a 10000-lot of Jan2017 25 calls on GLW is bought for $1.85, to open.
Walter Energy Nov 3 – Dec 3.4 call spread for 4 cents, 41000X. This is the same strategy that has been detailed numerous times in recent weeks. See 11/20 color.
Gamestop gaps down $6.07 to $37.47 and a Jan 33 – 37 put spread trades on the stock, post-earnings. It appears that $1.30 is collected, 16200X, to roll a block of puts down in strikes. The Jan 37s might have been opened in early-October when the stock traded near $40 (see 10/2 color). If so, [...]
Applied Materials attracts another call spread. With the stock up 26 cents to $22.89, the investor sold 25,000 Jan 24 calls on the chip equipment company at 62 cents and bought 14,500 Apr 25 calls for $1.05. The activity appears to roll some positions opened in June when 55K Jan 24s were being bought to [...]
EMC Dec 32 calls traded at 18 cents, 24470X. It appears that a seller is opening, as the market was 18 to 23 cents. The activity it might roll out of some expiring November calls. A 4485-lot of Nov 30 calls printed for 28 cents. The stock is up 35 cents to $30.21 and the [...]
Fastenal call volume very heavy in early trading. Shares trading up a quarter to 45.30 and buyers jumped on Dec 46 calls immediately after the open. Total of 4100 have traded in the first few minutes of the day, with most trading 55 to 65 cents. Will create the largest block of open interest in [...]
Michael Kors options volume is 3X daily avg, driven by an impressive risk-reversal. With the stock up 90 cents to $73.37, 35000 Jan 70 puts on the Chinese apparel company are apparently being sold at $1.70 per contract to buy 25,000 Dec 77.5 calls for 80 cents, on ISE. Both legs are opening. Shortly after [...]