Another bearish trade in MGM. In addition to the Jan2016 17 puts bought earlier today (see 10:47 color), a Mar 18 – 22 put spread on the casino operator is being bought-to-open for 68 cents, 11000X. The new position is tied to 198K shares for $24.80 and seems to be expressing concerns about a possible [...]
MGM Jan2016 17 puts are bought for 70 cents, 10000X. The stock is off 11 cents to $24.76 and the trade is similar to the block of longer-term puts in Boyd Gaming today (see BYD color). Somebody is maybe opening a hedging strategy on the casino operators.
Boyd Gaming Jan2016 8 puts are drawing interest. With shares down 26 cents to $10.78, an 11000-lot is bought for 95 cents per contract. More than 12,500 have traded so far and the activity is opening.
Lumber Liquidators draws bearish trading. The stock is down 8 cents to $57.93 and a 4520-lot of Sep 55 puts on the home improvement retailer trades for $1.25 when the market was $1.05 to $1.30. 5,076 LL Sep 55 puts traded total and today’s flow will open the second largest block of open interest in [...]
Abercrombie attracts a second day of pre-earnings action. The stock is up $1.29 to $44.84 and a Weekly (8/29) 47.5 – 50 – 52.5 call butterfly on the retailer is being opened for 35 cents, 2500X. It’s similar to the Weekly 46 – 49 – 52 call fly opened in the name yesterday (see 8/25 [...]
American Eagle Sep 14 – Jan 15 call spread is bought for 40 cents, 5000X. The Jans might close or, if opening, the spread is expressing the view that shares will hold below $14 through the Sept expiration. Then possibly rally beyond $15 through the Jan expiration. The company reported earnings last week. Peer ANF [...]
Increased put activity in UAL. With the stock up 18 cents to $48.64, 2,768 Sep 39 puts on the airliner are swept for 14 cents and then an 8000-lot printed for 15 cents each when the bid-ask was 10 to 15 cents. 10,773 traded against 8,915 in open interest. Bearish trading comes ahead of a [...]
Abercrombie attracts increased activity ahead of earnings. The company is due to report on the 28th and is off 14 cents to $43.66 today in the wake of another disappointing quarter from Aeropostale last week. ARO was down 10% Friday after reporting another big loss. On the options front, 22,000 calls and 16,000 puts traded [...]
Relative strength and high call volume in JC Penney. The stock is up 5.3% to $10.73 on a positive commentary from JP Morgan. 13,000 calls and 1,940 puts traded on the retailer. Weekly (8/29) 10.5 calls are the most actives. 2,700 changed hands. Oct 10, Weekly (9/5) 11, and Weekly (8/29) 11 calls are drawing [...]
GrubHub adds 4% to $45.19 and is back within striking distance of highs of $45.80 seen two weeks ago. One player is possibly looking to hedge recent gains with a put spread, as the Oct 35 – 40 ps on GRUB was bought for $1.45, 2454X. The flow will open the largest blocks of open [...]