A total of 30,000 10% out of the money Sep 15 calls were bought this morning just after 1025am for an avg price of 75cents as shares traded near 13.63, opening a new 2.2million premium position with nearly a million shares of delta to hedge. This trade is nearly 7x the typical daily call volume [...]
Radioshack (RSH) is up 41 cents to $3.06 in very active trading of 10.5 million shares and heading to session highs. The stock is on a two-day 33 percent tear, but with no obvious headlines to explain the strength. In options action, 10,000 calls and 3,700 puts traded in RSH today, which represents 5X the [...]
Petsmart (PETM) shares are in the doghouse today, falling $5.87 to $64.12, after Nomura downgraded the stock to Reduce and slashed its price target by $17 to $55. Trading is brisk. 4.8 million shares so far, which is 10X the expected. Meanwhile, 12,000 puts and 3,342 calls traded on Petsmart. The top trade is a [...]
Bed, Bath and Beyond (BBBY) drops $1.70 to $58.08 after Goldman whacked the retailer with a Sell rating. Some players in the options market seem to view today’s dip as an opportunity. 21,000 calls and 3,000 puts traded on the stock so far, a ratio of 7-to-1. Mach 62.5 calls are the most active. 10,610 [...]
H&R Block (HRB) is up 31 cents to $22.64 and it looks like an Apr 20 – 25 bullish risk-reversal is bought on the stock, for even money, 10610X, to open. Doesn’t appear tied to stock. The combo will expire on April 20, five days after the deadline for 2012 individual tax returns.
Staples (SPLS) adds 26 cents to $13.23 and a sweep of 1,600 Jun $14 calls printed on the office supplies retailer for 65 cents per contract at 10:28, followed by an 8,300-lot for 70 cents on ISE, then a sweep of 2,600 for 70 cents. 12,590 SPLS June $14 calls traded against 2,002 and ISEE [...]
MGM adds a penny to $12.98 and 40,000 Feb 13 puts are bought on the casino-operator for 38 cents per contract. Looks opening and tied to 1.81 million shares for $13.01. At-the-money put buying in MGM comes as implied volatility drops to 52-week lows today. Earnings expected on the morning of Feb 20, outside of [...]
News Corp (NWSA) ticks 10 cents higher to $27.51 and a Jul 28 – 30 (1X2) call ratio spread is bought on the stock for 30 cents, 6250X. Looks like a new position targeting a move to $30 (~9%) through the July expiration. Shares have performed well lately, up nearly 20 percent since mid-November, and [...]
ratio call spread trades for net debit of 30c. Opening on both legs, buyer pays 1.40 for 6250 July 28 calls and sells 12500 July 30 calls sold for 55c.
Clothing maker Chicos is seeing elevated call volume for the third straight day as shares lift nearly 3% to $18.13 the upper third of the $11.41-19.64 52wk range. Flow yesterday was dominated by May 18 call buyers paying 1.25 for nearly 2400 contracts when shares were near 17.61, and today we see the same contract [...]