Expedia (EXPE) is down 33 cents to $9.32 and more than 3000 April 10 calls have traded. The trades have been in lots of fewer than 200 contracts and 80 percent hitting ask-side. ISE sentiment data confirm opening call buyers are dominating the action. The bullish trading comes amid renewed takeover chatter–Briefing.
Focus Media (FMCN) is down 2 cents to $6.97 and October 7.5/10 (1X2) call ratio spread trades 2000X on ISE. Looks like they bought 7.5s and sold 2X as many 10s, collected 15 cents (per 1X2), to open a new position.Ãƒâ€šÃ‚Â It’s a bullish trade with a max profit at $10.
NetFlix (NFLX) is down 62 cents to $42.80 on news Blockbuster (BBI) plans to let Tivo (TIVO) subscibers download movies from online libraries to home televisions. The move is possibly viewed as a negative for NFLX as it increases competition in the industry. Indeed, one strategist seems to be positioning for additional downside in NFLX [...]
Kohl’s (KSS) opened lower Tuesday morning after Citigroup removed the stock from its Top Picks Live List. Shares are now up 45 cents to $43.23 and recent options trades include 2000 April 35/40 put spreads, bought for 95 cents on the CBOE.
Williams Sonoma (WSM) finished the day unchanged at $11.19 per share Tuesday, as reaction seemed mixed to the company’s latest earnings release. A number of brokers are out with comments this morning, including a downgrade to Underweight at Barclays and an upgrade to Buy at Wedbush. Sentiiment in the options market was decidedly bearish yesterday, [...]
Ross Stores (ROST) lost 26 cents to $35.05 Tuesday, but is up 19.6 percent since March 6. In the options market, May puts were actively traded yesterday after a player opened a substantial put tree–buying 2000 May 32.5/35 put spreads and also selling 2000 May 30 puts. Open interest data suggest new positions in all [...]
Target (TGT) shares are near $33 and up more than 30 percent since March 9. One strategist appears to bracing for a possible decline in retailer, however, and opened a substantial put “Tree” Tuesday–buying 5000 May 30/32.5 put spreads and also selling 5000 May 27.5 puts–paid a penny for the package. Open interest data suggest [...]
Interest in Las Vegas Sands (LVS) call options continues. Shares are up 49 cents to $3.14 and 40,000 contracts traded, compared to 1,850 puts. No obvious on the stock today and some of the volume might be closing. Investors have been showing interest in LVS calls throughout the month of March (including yesterday)Ãƒâ€šÃ‚Â Shares are up [...]
The Limited (LTD) is up 35 cents to $9.11 and options volume is running at 10X the typical pace after a strategist appears to have opened a substantial position in the Jan 2010/Jan 2011 20 call spread. They paid an average of 42.5 cents on 10000 spreads. Position was tied to LTD shares at $8.96.
Best Buy put volume running 10 times normal pace with 43,000 puts in the first 90minutes of the day, vs 2000 calls. Flow suggests trimming short put positions ahead of Thurday’s earnings. Most active are the April 30 puts, with a buy of 9400 for 1.10 on the ISE, followed by a trade on the [...]