Mid Cap Stocks
Upside call writing in Encana. The stock is up 4c to $6.87 and 2K Jan 9 calls on the oil and gas company are swept across multiple exchanges at 30c per contract. Data from ISE indicate that a customer is selling-to-close. 6.8K traded total against 5.5K in open interest. The contract is 31% out-of-the-money.
Call writer sees limited upside for MGIC Investments. The stock is up a dime to $10.29 and 10K Dec 11 calls on the mortgage insurance company are sold-to-open at 40c per contract.
Chesapeake sees a hefty ratio spread as shares rally 5.9%. The stock is up 43c to $7.70 and the Oct 6 – 7, 2X1, put spread on the oil and gas company trades for even money, 20000X. A buyer is likely opening the spread as part of a hedging strategy against underlying shares. If bought-to-open, [...]
Notable combo in Graphic Packaging December options. The stock is up 26c to $14.20 and the Dec 12.5 – 15 bearish risk-reversal on the paper company trades at a nickel, 11000X. Both contracts traded more than 12.5K and the flow likely closes a position opened on 6/9 when the same combo traded for 30c, 12000X. [...]
Short-term call buyer opens a position in SpringLeaf. The stock is up 92c to $44.41 and 5K Sep 45 calls on the consumer finance company trades for $1.35 when the market was 80c to $1.45. It’s tied to 201K shares and the activity opens the second largest block of open interest in the name behind [...]
TECO call buyer nets at least $5M in one week trade as shares jump 23% on Emera takeover. Last Tuesday a customer paid 70c to open 35K Nov 22.5 calls tied to 980K shares at $20.80 in a trade that boosted call open interest seven-fold. This morning’s deal news has TECO up 23% to $26 [...]
Opening action in Newmont Mining short-term call options. The stock is up 16c to $15.84 amid modest strength in gold and shares of mining companies Tuesday morning. 1.3K Weekly 16.5 calls on Newmont are swept across multiple exchanges for 16c shortly after the opening bell. Open interest is 197. The interest comes after the stock [...]
Sizable options block in Staples as shares lose 1.4%. The stock is down 19c to $13.16 and falling along with Office Depot (ODP) after the FTC sent a second round of subpoenas related to the SPLS – ODP merger. Ten minutes after 100K Jan 5.5 puts on ODP were sold-to-open at 45c, a 60K block [...]
Big print in Office Depot options will open the largest block of open interest in the name. The stock is off 7c to $7.25 and 100K Jan 5.5 puts on the office supplies retailer are sold at 45c per contract against 2.1M shares at $7.18. The new position is likely expressing confidence that shares will [...]
Notable options prints in PVH will open the largest blocks of open interest in the name. The stock is off 65c to $117.15 and the Sep 115 – 120 risk-reversal on the apparel company trades for 73c, 2000X. The combo is possibly a hedge or collar for fear the stock might give up recent gains [...]