JC Penney draws an opening call spread. The stock is off 13 cents to $8.90 and a Nov 10 – 12 cs on the retailer trades for 49 cents, 3000X. 6000 traded on the day and the new position seems to be expressing a bullish view for JCP for the next five months.
Early activity in Youku Tudou. The stock is up 30 cents to $21.85 and a 1600-lot of Sep 20 calls on the Chinese internet company trades for $3.20 when the market was $3 to $3.20. It’s opening. Jul 22 calls on the stock have traded 770 contracts. The stock is on a two-week 14% run [...]
Pier 1 option volume very heavy into earnings. Near 10K contracts today, 6x normal, with puts leading calls 7:2 and implied vols lifting into the release. Put volume has been heavy all week, with the focus on June 17 puts, where a buyer has been building a position in the 43 to 60 cent price [...]
Noteworthy action in Nextar Broadcasting. The stock is up 45 cents to $45.48 and it looks like the investor bought 10,000 Jul 45 calls on the Irving, TX television company for an average of $3.18 (two 5000-lots traded separately) and bought 15,000 July 50 calls for $1.25. The 2X3 might roll a block of July [...]
Sizable short-term trade in Supervalu. The stock is flat at $7.89 and a 15000-lot of Jun 7 calls on the grocery store chain trades for 95 cents per contract on ISE. It might close one leg of a Jun 7 straddle opened in late-April at 95 cents, 15000X (see 4/22 color). The puts were apparently [...]
Wendy’s sees a whopper of a trade. The stock is up 17 cents to $8.55 and the Nov 8 – 9 bullish risk-reversal on the fast food company is apparently being bought for a nickel, 2500X. It’s opening.
Active early trading in Hertz calls. The stock is up 28 cents to $27.31 and 2500 Jul 28 calls on the auto rental company are swept across multiple exchanges for 94 cents and 2,236 Jul 31 calls for 34 cents. A total of 3,579 Jul 28s and 2,562 Jul 31s traded in the name. Looks [...]
Delta draws bullish trading. The stock is up 73 cents to $39.57 and the top options trade on the airliner is an 1885-lot of Sep 40 calls for $2.59 on ISE. That was followed a bit later by 1850 more for $1.66 on ISE. Data from the exchange is reporting opening customer buyers. Volume at [...]
Short-term call buying in eCommerce DangDang. The stock is up 33 cents to $12.34 and the focus is on the Jun 13s. 2,318 traded. Jul 13, Jun 12, and Jun 14 calls on the Chinese internet company are seeing modest interest this morning as well. 3,300 calls and 0 puts traded in the name. Briefing [...]
Restoration Hardware sees higher call volume. The stock is up $2.36 to $83.08 and it looks like the investor is selling-to-close 6,000 Aug 70 – 80 call spreads on RH at $7.35, 6000X, to buy a new position in the Aug 85 – 95 call spread for $2.85, 6000X. A Jul 85 – 90 call [...]