Monday, April 18, 2011

Option Flow Recap April 18

Macro / Thematic

UUP PowerShares DB US Dollar Index Bullish - 10,000 of the May 22 calls were bought for $0.15.

EEM iShares MSCI Emerging Markets Indx  - 6800 of the May 47 puts were bought for $0.99.


CL Colgate-Palmolive Company  - 6000 of the August 90 calls were sold at $0.69

SKS Saks Incorporated - 7500 of the June 13 calls were sold at $0.25 tied to 203,000 shares at $11.60.

LVS Las Vegas Sands Corp. - 30,000 of the May 47 / 50 call spreads were bought for $0.63. The bullish trade could be a play on earnings that are expected early-May.

SYY SYSCO Corporation  - 2800 of the May 29 puts were bought for $1.00. The puts were bought to open and could be a play on earnings, due around May 2nd.

GM General Motors Company - 5000 of the May 30 / 28 put spread was bought for $0.75. It could be a roll down in strikes or a new position anticipating downside in the weeks ahead.


PBR Petroleo Brasileiro SA - 6000 of the July 45 calls were bought for $0.16.

WFT Weatherford International Ltd.  - 1200 of the August 18 puts were bought for $0.84.


AMD Advanced Micro Devices, Inc. - 7500 of the October 8 / 6 put spreads were bought for $0.71 and sold 7500 of the October 10 calls at $0.40, paying $0.31 for the put spread collar.

ELNK EarthLink, Inc.  - 2222 of the July 9 calls were bought for $0.33.

SNDA Shanda Interactive - touched a new 52-week high and was up 8 to 51.45 late today after the Chinese Internet media company announced plans for a possible IPO of its Cloudary online literature unit.  Options volume was 8.3 times the typical levels with 4532 calls and 1028 puts.  45% of the market sentiment tended to be bullish.  The put/call ratio was down to 0.23 from 0.92.  May 50C, May 45C and Jun 55C were busy.  Majority part of the call premium today was on the ask side.  Other Chinese technology-based companies were top gainers as well, such as YOKU (up 8.7%), QIHU (up 8.5%) and DANG (up 7.88%).

Industrials / Materials

ETN Eaton Corporation - 4500 of the July 57.5 calls were bought for $0.70 and 1500 of the June 50 puts were sold at $1.65.

IVN Ivanhoe Mines Ltd. - 4500 of the September 22 / 35 bearish risk reversals were bought for $1.05.

TYC -Tyco International Ltd. - 10,000 of the July 60 calls at $1.05.

GWW - WW Grainger Inc beat the market and touched the 52-week high today after it released its Q1 earnings.  The Illinois based industrial products distributor posted net earnings of $158 million, or $2.18 a share, compared with $99 million, or $1.31, in the same quarter last year, ahead of average analyst estimates polled by Thomas Reuters of $1.80 a share.  GWW traded 6.7 times the norm volume with 1245 calls versus 1497 puts.  May 140P, May 140C and May 145P saw some interest. 


BAC Bank of America Corporation - 20,000 of the June 14 calls were bought for $0.11.


THC Tenet Healthcare Corporation - 5000 of the November 7 calls were bought for $0.55.

*Special thanks to Flotilla Partners, Option Radar, BMO Capital, MEB Options, LiveVolPro, CBOE, Option Monster, and all of the options desks and traders we work with to provide the option flow!

No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.

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