Small Cap Stocks
Noteworthy spread in Neucrine Biosciences as the investor is apparently selling 1250 Jan 10 puts on the biotech at 60 cents to buy 2500 Jan 17 – 22 call spreads for $1.75. The call spread is opening and so the new position seems to be expressing a bullish view on the stock, which is down [...]
KB Homes Oct 18 – Nov 17 call spread trades at 17 cents, 13100X. With the stock down 34 cents to $15.34, it looks like the Nov 17s are being sold-to-open. Meanwhile, the Oct 18s appear to close a block of calls opened a week ago at 31 cents when shares traded north of $17. [...]
Forest Oil drops 11 cents to $1.22 and an investor opens a long put/long stock strategy. 30,000 Jan 2 puts were bought for 85 cents and bought 3 million shares for $1.25. The stock is at new lows today after falling 80% from a year ago.
Time spreads in PMC Sierra. The stock is off 18 cents to $7.55 and a Nov – Feb 8 call spread on the chip-maker is bought for 30 cents, 10000X on PHLX. Separately, a Nov – May 9 call spread trades for 36 cents, 10000X on ISE. Both spreads appear to be rolling long calls [...]
The woes continue for Alpha Natural Resources as shares of the coal producer drop another 10% to new lows of $2.59. Recent options trades on ANR include a sweep of 10747 Oct 2.5 puts across multiple exchanges for 14 cents when the bid-ask was 12 to 14 cents. 12,267 now traded vs. 1,296 in OI [...]
Green Plains Nov 40 – 45 call spread for $1.06, 1620X. Looks like an opening buyer. 2500 traded on the day. The stock is up 3% to $37 after a two-week 17.4% tumble. The call spread will capture earnings, due in late-October.
Walter Energy with another call spread. The stock is off 18 cents to $2.63 and a Weekly (10/31) 2.5 – 4 cs on the coal producer is sold at 35 cents, 15000X. It probably rolls a block of 4-strike calls (for 5 cents today) that was opened a week ago at 25 cents. The flow [...]
Bearish positioning in Goodrich Pete. With the stock down 29 cents to $14.56, the focus has been on Oct 12.5 and 15 puts. One player bought 5,050 Oct 12.5s for 40 cents midday when the stock was more than $1 above current levels. 10,227 traded at that strike agianst 112 in open interest. The market [...]
Dean Foods draws bearish activity. With the stock down 35 cents to $13.80, 4,764 Oct 13 puts on the dairy products are swept for 15 cents when the market was 5 to 15 cents. There’s no open interest at that strike. 6,738 traded total and the market is 20 to 25 cents. DF has dropped [...]
Heavy call activity in Spansion. The stock is up 42 cents to $23.30 and, with shares at $22.90, 4,000 Nov 30 calls traded on PHLX for 75 cents when the bid-ask was 60 to 75 cents. It might close. 7,044 traded at that strike against 14,524 in open interest. Nov 29 calls have traded 3,567 [...]