Gamestop (GME) shares fell 32 cents to $29.78 and options volume rose to 2X the normal levels Friday. 16,000 puts and 3,900 calls traded on the day. April 30 puts saw the most action. 11,790 contracts traded. Open interest increased to 12,48f from 3,476. In addition, with about two-thirds of the volume hitting ask-side and [...]
Interest in the casino names continues Friday. MGM (MGM), which rallied 19.4 percent Thursday, is up another $1.04 to $4.18. The rally in MGM comes amid reports Colony Capital is considering an investment in $8 billion Las Vegas CityCenter project, which has been at risk of banrkruptcy. The firm is in talking with owners of [...]
Liberty Global (LBTYA) is up 32 cents to $16.14 and 10000 Jan 15 puts traded for an average of $3.95. Existing open interest is only 20 contracts, suggesting a new position opened. The trade was tied to shares of stock and probably part of a protective put strategy (long stock and puts).
International Game Technology (IGT) is up 59 cents to $10.61 and total options volume is running 11X the average daily. 14000 calls and only 31 puts traded. The top trade is 6,427 May 10 calls for $1.50 on the ISE, which is an opening customer buy, according to ISEE sentiment data. The overall tone of [...]
Starwood Hotels (HOT) is up 60 cents to $15.46 and options volume is running at 3X the average daily. The top trade of the day is 5,750 May 17.5 calls on the bid for $1.05 at 10:29 on the CBOE. It was part of a sale of 6,100 contracts and likely a new position. Existing [...]
Continental Airlines (CAL) is down 33 cents to $10.07 and June 12.5/20 call spread trades 5000X for $1.025 on the PHLX. Spread was sold and tied to a position at $10.10. It likely closed out a position opened on Feb 27 for $1.475 when CAL was around $9.90.
Las Vegas Sands (LVS) is up 48 cents to $4.88 and April calls at the $5 strike are seeing some action on news late yesterday the company’s CEO bought 4,726,910 shares at $3.01 on March 31. 2500 contracts traded so far.
Gannett (GCI) gained 6.1 percent to $2.43 and May 2.5 calls saw active trading. 12K contracts traded and open interest increased by 10,360 to 10,504. Looks like call writers were dominating the action and collecting 35 and 40 cents per contract. Some of the activity was tied to shares and probably buy-writes. In other words, [...]
Gaming stocks among the best performers today, and Penn Gaming is seeing heavy volume with 6600 calls trading by mid-afternoon, 11x normal for the stock. Shares are up 11.2% near $27.40 and flow appears to involve by sellers of July 25 calls in the 4.20 to 4.80 range 3000x, and buyers of the 30 strike [...]
Starwood Hotels (HOT) is up $1.69 to $14.78 and options volume is running 2X the average daily levels. About 8000 calls and 2000 puts traded so far. The top trades of the day seem to reflect some hopes for higher prices after 1500 Aug 17.5/20 call spreads trade for 60 cents on PHLX. Looks like [...]