Thursday, April 28, 2011

Option Flow Recap April 28th

Macro / Thematic

XLF Financial Select Sector SPDR  - ~37,000 of the June 16 / August 15 put spreads traded with the investor collecting $0.025.


JBLU JetBlue Airways Corporation – 4300 of the December 7 calls were bought this morning on eaqrly weakness. The investor paid $0.25 and $0.30.

OMX OfficeMax Incorporated – 1300 of the August 9 puts were bought for $0.35. It appears buyers are expecting further declines in the office supplies retailer.

GT The Goodyear Tire & Rubber Company – 2200 of the June 17 calls were purchased for $0.75. The calls were bought to open.


SPWRA SunPower Corporation – 2200 of the May 15 puts were bought for $0.60. The puts were bought to open. The bearish trading is probably a play on earnings which are due on the 12th of May.

Occidental Petroleum Corporation – 4000 of the Janaury’13 135 calls were bought for $4.90. The calls were bought to open.

FST Forest Oil Corporation – 2000 of the May 35 / 38 call spreads were bought for $1.15.

EQT EQT Corp - traded higher on earnings.  Trader bot 2,500 September $55 calls @ $0.85. $53 target at Barclay's. 

SWI Solar Winds - traded 2k+ puts, 15X daily average with IV30 up 15%.  The May $22.50 puts trading 1,000 and the $25's trading 500+, $140K+ in put premium bought today ahead of May 4th earnings. There is also a 10% short float, 10+ days to cover.  FBR raised its target to $25 on 3-14 with an Outperform rating.

Industrials / Materials

JBL Jabil Circuit, Inc. – 2600 of the June 21 puts were bought for $1.35. The puts were bought to open.

TEX Terex Corporation  – 1600 of the May 38 calls were bought for $0.20. The calls were bought to open.

KGC Kinross Gold Corporation – 10,000 of the May 17 calls were sold at $0.20 and rolled into the June 17 / 19 calls spreads were bought for $0.31.


CY Cypress Semiconductor Corporation -  An investor sold 1250 of the September 18 puts at $0.60 and bought 3500 of the September 24 calls were bought for $1.05 and sold 2750 of the September 26 calls.  

EQIX Equinix, Inc.  – 15,000 of  the June 85 / 100 / 115 call fly traded at $7.10. This is likely a closing position.

XRX Xerox Corporation  – An investor bought 22,000 of the January 10 calls for ~$1.135, tied to 1.25 million shares at $10.10.


CYH Community Health Systems – 5800 of the June 34 / December 20 bearish risk reversal was traded for even money. The December 20 puts were bought for $0.90 and the June 34 calls were sold at $0.90.

*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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