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Posts Tagged ‘S’

Call Butterfly Spread Looks For Run In Sprint Shares To Continue

www.interactivebrokers.com

Options volume on Sprint jumped a little less than one hour into the trading session on Thursday after a large three-legged strategy was initiated in the May expiry calls. The call butterfly spread purchased on the wireless carrier this morning looks for shares in Sprint to rise substantially from the current level by expiration in seven weeks. Shares in the name are up 4.5% at $9.37 as of 11:00 a.m. ET.

It looks like one strategist purchased 20,000 calls at both the May $10 and $12 strikes for a combined premium of $0.60 per contract and sold 40,000 of the May $11 strike calls at a premium of $0.24 apiece, effectively reducing the net cost of the spread to $0.12 per contract. The sizable bullish trade reaps maximum potential gains of $0.88 per contract in the event that shares in Sprint rally 17% over the current price of $9.37 to settle at $11.00 at May expiration. The breakeven points of $10.12 and $11.88 indicate the position is profitable within those bounds, while outside of those levels losses on the position are capped at $0.12 per contract, or the premium paid to initiate the butterfly spread. Shares in Sprint last traded around $11.00 at the end of December when the stock hit $11.48, the highest since SoftBank Corp.’s takeover of the wireless carrier last summer.


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Big Prints In Sprint Put Options

www.interactivebrokers.com

Shares in Sprint (Ticker: S), which closed up more than 8.0% yesterday perhaps on reports the company may be closer to securing $45 billion in financing to make a bid for T-Mobile US Inc. (Ticker: TMUS), declined 8.5% on Thursday morning down to as low as $7.70.

The sharp moves in the price of the underlying amid continued deal chatter and the company’s upcoming fourth-quarter earnings report next week spurred heavier than usual trading traffic in Sprint options. As of the time of this writing, options volume on the stock is more than four times the average daily level. The largest trades in Sprint options today are in the Mar $50 strike puts, with around 50,000 contracts in play as of midday in New York. Time and sales data suggests most of the put options were purchased at a premium of $0.40 each. The puts may be profitable at March expiration in the event that shares in Sprint drop 18% from the current price of $8.02 to trade below the effective breakeven point at $6.60. Shares in Sprint last traded below $6.60 in October. 


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Butterfly Spread Calls For Further Gains In EEM

www.interactivebrokers.com

 

Today’s tickers: EEM, ETFC & S

EEM - iShares MSCI Emerging Markets Index ETF – Shares in the EEM increased roughly 7% in the past two weeks and a large call butterfly spread initiated this morning suggests one options market participant is positioning for the price of the underlying to tack on another 7% in the next six weeks. The one-by-two-by-one limited risk strategy could pay off handsomely at September expiration if shares in the EEM rally to their highest since early-April. Shares in the ETF are currently up 0.50% on the day at $40.55 as of 1:25 p.m. in New York. The butterfly spread was constructed through the purchase of 40,000 calls at each of the Sept. $42 and $45 strikes, marked against the sale of 80,000 calls at the Sept. $43.5 strike, all for a net premium outlay of $0.22 apiece. The trade starts making money in the event EEM shares rally 4% to surpass the breakeven point at $42.22, with maximum possible profits of $1.28 per contract available given a 7.3% move higher in the share price to $43.50. The risk-reward ratio works in the trader’s favor; losses are limited to $0.22 per contract but maximum potential profits are nearly six times that amount should the ETF’s shares settle at the central strike price by expiration next month.

ETFC - E*Trade Financial Corp. – News that online broker, E*Trade Financial Corp., gave CEO Steven J. Freiberg the pink slip was well-received by investors today, with the shares trading up as much as 7.2% to an intraday high of $8.60 in the first half of the session. Options on ETFC are more active than usual Options volume on the e-broker, pushing 9,000 contracts just before midday in New York, is more than two times the average daily volume for the stock. Calls are far more active than put options with a call-to-put ratio hovering around 7-to-1. Fresh interest building in short-term upside calls…
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Traders Ramp Up Activity In Research In Motion Options

www.interactivebrokers.com

 

Today’s tickers: RIMM, S & HPQ

RIMM - Research In Motion Limited – Shares in the troubled mobile phone maker rallied sharply Wednesday morning on comments from Jefferies & Co. analyst, Peter Misek, regarding the possibility that Samsung Electronics Co. is considering licensing Research In Motion’s new BB10 operating system or buying the company. RIMM is well off its highs of the session at present, up 4.9% at $7.67 as of 11:45 a.m. in New York, down from an initial 12.9% spike in the shares to an intraday high of $8.25. Traders flocked to RIMM options and drove the number of contracts traded to more than three times average daily volume. Heavy put buying in the weekly options suggests gains in the price of the underlying may be short lived. More than 25,000 in-the-money puts changed hands at the Aug. 10 ’12 $8.0 strike versus open interest of just 460 contracts. It looks like most of these put options were purchased in the first hour of the trading day for an average premium of $0.34 apiece. Put buyers profit at expiration this week in the event the Blackberry makers settle below the average breakeven price of $7.66.

S - Sprint Nextel Corp. – The third-largest U.S. wireless carrier’s shares have been on a tear in recent months, having nearly doubled since the end of May. Sizable prints in Sprint call options this morning suggest at least one trader is positioning for the price of the underlying to continue its run during the next few months. The stock today is up 5.0% to stand at $4.53 as of 12:20 p.m. in New York. The sale of a block of 11,129 Aug. $4.0 strike calls for a premium of $0.44 apiece spread against the purchase of a block of 11,148 calls at the Nov. $5.0 strike at a premium of $0.27 each may be the work of an investor rolling up a bullish position. A review of…
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Short-Term Bullish Bets Mount As Las Vegas Sands Extends Rally

www.interactivebrokers.com

 

Today’s tickers: LVS, S & PG

LVS - Las Vegas Sands Corp. – Weekly call options on the casino operator continue to see heavy action as shares in Las Vegas Sands extend their sharp run to the upside. The stock is up more than 12.0% year-to-date and some options traders are positioning for the momentum to continue, abandoning concerns that slowing growth in China may curtail activity in Macao. Optimism the Chinese New Year will boost revenues in the Asian gambling hub is also helping the stock’s fast-and-furious drive toward the February 3, 2011, 52-week high of $50.65. Shares are currently up 2.9% on the day to arrive at $49.31 as of 1:30 p.m. in New York. Traders exchanged more than 3,200 now in-the-money calls at the Jan. ’27 $49 strike, with much of the volume generated by buyers shelling out an average premium of $0.43 per contract. Investors long the $49 strike calls may walk away with profits at week’s end as long as shares in LVS exceed the average breakeven price of $49.43. Bullish positioning spread to the higher Jan. ’27 $50 strike where more than 1,300 calls were purchased at an average premium of $0.17 apiece. Weekly call buyers profit if shares in the owner of casino resorts extend gains heading into the weekend, but are not exposed to the reaction of shares following Las Vegas Sands Corp.’s earnings release next Thursday.

S - Sprint Nextel Corp. – Big prints in Sprint puts made the wireless communications company one of the most active names by options volume today. Shares in the wireless provider are down 1.4% at $2.14 in early-afternoon trade, hovering just four pennies above the October 10, 2011, multi-year low of $2.10. Options volume on Sprint Nextel…
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Intel Bulls Eye Fresh Highs In Chip Maker’s Shares Come Springtime

www.interactivebrokers.com

Today’s tickers: INTC, S & ACN

INTC - Intel Corp. – A spate of buying activity in Intel Corp. call options this morning suggests some options strategists are positioning for substantial bullish movement in the price of the underlying over the next four to five months. Shares in Intel are certainly heading higher today, with the stock currently up 5.5% to stand at $24.86 as of 12:10 PM in New York. Fresh prints in March 2012 contract calls indicate investors may profit if Intel’s shares rally to their highest level in at least five years. Traders taking a bullish stance on the chip maker picked up more than 4,200 calls at the Mar. 2012 $28 strike for an average premium of $0.43 each. Like-minded optimists paid an average premium of $0.28 per contract to purchase roughly 9,100 calls at the higher Mar. 2012 $29 strike, as well. Investors long the call options may profit at March expiration in the event that Intel’s shares surge 14.4% and 17.8% to surpass the average breakeven prices of $28.43 and $29.28, respectively. Looking out to options expiring in April 2012, it appears some 8,800 calls changed hands at the $29 strike against open interest of 2,037 contracts. Investors purchased most of these contracts for an average premium of $0.45 a-pop. Finally, short-term bulls are dabbling in Intel Corp. weekly calls. It looks like investors that got in ahead of the week’s rally are taking profits off the table today. Open interest patterns in the Dec. ’02 $24 strike suggest traders purchased around 3,500 of the calls for an average premium of $0.10 each one day prior to Thanksgiving. This morning these calls were sold roughly 3,500 times for an average premium of $0.64 each, or approximate one-week gains of 540%.

S - Sprint Nextel Corp. – Shares in the wireless carrier joined in on the broad market rally today, rising 3.6% to $2.59 in early-afternoon trade. However, a large transaction in weekly puts on the stock indicates one strategist is prepared should the music stop. It looks like the investor purchased around 27,000 puts at the Dec. ’02 $2.5 strike for a premium of $0.07 apiece. The trader may profit at expiration this week if shares in Sprint Nextel Corp. drop 6.2% from the current price of $2.59 to breach the effective breakeven point at $2.43. Immediate-term bearish options activity in the weekly puts contrasts with a much…
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Call Buying On Sprint Amid Session Lows Well-Played As Shares Rebound

www.interactivebrokers.com

     Today’s tickers: S, GS, RIMM & CCL

S - Sprint Nextel Corp. – Seemingly well-timed call buying on Sprint in the first hour of the trading session has seen the value of options held by one or more bullish investors appreciate intraday. Shares in Sprint Nextel Corp. fell as much as 17.6% this morning to touch down at a new 52-week low of $2.25, but have since fought their way back to rally 2.2% to $2.79 just after 12:35 pm EDT. The stock tumbled this week on news the third-largest U.S. wireless carrier is committed to buying at least 30.5 million iPhones over the next four years, a deal estimated to cost around $20 billion, as reported in today’s Wall Street Journal. Concerns regarding the terms of the deal were reflected in the steep selloff that ensued in Sprint shares. But, activity in Jan. 2012 contract call options this morning suggests some traders were ready to position for a rebound in the battered stock. It looks like investors purchased around 18,400 calls at the Jan. 2012 $2.5 strike for an average premium of $0.57 apiece, against previously existing open interest of 9,650 contracts. The calls that had earlier cost an average of $0.57 to purchase now require $0.76 per contract roughly two hours later. Premium on the calls should continue to rise should Sprint’s shares extend their recovery in the months remaining to January 2012 expiration. Options traders populating Sprint Nextel Corp. are trading roughly three calls on the wireless provider to each single put in action. Options implied volatility is up 30.3% to arrive at 119.8% this afternoon.

GS - The Goldman Sachs Group, Inc. – Shares in Goldman Sachs are well off their lows of the session, having earlier dropped as much as 6.45% to a 31-month low of $84.27. The stock remains firmly in the red, however, down 2.1% at $88.18 as of 11:30 am in New York. Not surprisingly, options on financial stocks and the XLF are some of the most active…
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Call Spreader Eyes Near-Term Turn-Around In Valeant

www.interactivebrokers.com

Today’s tickers: VRX, DISH, GE & S

VRX - Valeant Pharmaceuticals, Inc. – Shares in Canada’s largest drug maker have lost roughly one-third of their value in just over one week’s time, and it looks like one options player is prepared to see the stock recover somewhat in the next couple of weeks. Valeant’s shares currently trade 6.15% lower on the session at $38.34. The stock fell sharply on Thursday after the company reported lower-than-expected profits for the second quarter. Massive prints in August contract call options point to one player’s optimism for a speedy, albeit limited, rebound in the price of the underlying by expiration this month. It looks like the investor initiated a bull call spread, buying 25,000 now in-the-money calls at the August $38 strike for a premium of $1.75 each, and selling the same number of calls up at the August $43 strike at a premium of $0.45 apiece. The net cost of the trade amounts to $1.30 per contract, thus preparing the options strategist to profit should shares in Valeant increase 2.5% over the current price of $38.34 to surpass the effective breakeven point on the spread at $39.30 by expiration day. Maximum potential profits of $3.70 per contract pad the investor’s wallet if shares in the drug maker gain 12.2% to trade above $43.00 by expiration in two weeks. Options implied volatility on the pharmaceuticals company stands 25.6% higher this afternoon at 67.51% as of 1:40 pm on the East Coast.

DISH - DISH Network Corp. – The sharp pullback in shares of DISH Network today appears to have paid off handsomely for one strategist holding put options on the stock. It looks like the investor more than doubled his money in the past 48 hours by selling puts originally purchased on Wednesday. Shares in…
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Wild Weekly Wrap-Up (Part 1) – Our Billion Dollar Oil Shorts!

Billions!  

That’s how much money our oil futures trade ideas generated over the past two weeks and I certainly hope everyone got a piece of theirs but, out of curiosity, how did our other trade ideas do in this terrible market?  We track our virtual portfolios but we have many trade ideas during members chat on both sides of the fence so let’s take some time to review what worked and what didn’t work as the Dow dropped 500 points since the holiday.  

Keep in mind this is just virtual performance and I’ll do my best to not miss anything and I’m going to include the Friday before the holiday weekend so we can review what our mind-set was as we set ourselves up for the long weekend as well as how we handled the moves since in both our daily posts and our Member Chat.  I’m not going to narrate each day, that’s what Stock World Weekly is for –  I’ll just make quick comments on the trades when appropriate.  Keep in mind, with all options trading, once you make a quick 20%, you should be looking for the exits (see our Strategy Section) by setting stops (and we also stop out with a 20% loss of course) – we are just lucky when we happen to do better.  

TGIF – Dollar Done Diving or Destined to Drop?  

In the main post (main post trade ideas can be read daily by Report Members or higher – the rest are in our Private Member Chat), I discussed shorting oil futures off our $101.90 (at the time) target.  We didn’t like waiting for $102 because sometimes it failed.  Oil finished at $99 this week but was as low as $97.24 as we put pressure on the NYMEX pump crew by accepting their bogus offers to buy oil over $101 per barrel.  This post was the first one where I decided to go public with what we were doing, hoping to break the back of the market manipulators at the NYMEX by letting as many people as possible in on the trade.  This is also where I laid out our bearish fundamental case for oil so good for review.  My comment in the morning post was:  

As I mentioned yesterday, this week’s action is 


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Bulls Prep for Continued Run-Up in Sprint

www.interactivebrokers.com

 

Today’s tickers: S, SMH, AEM & XRT

S - Sprint Nextel Corp. – Shares in the third-largest U.S. mobile provider hit a new 2-year high today, rising as much as 5.9% earlier in the session to $5.90. The communications company’s share price took a big hit after AT&T and T-Mobile announced plans to merge back in March, but the stock has sky-rocketed in the two months since then, gaining 41.5% off its post-deal announcement low of $4.17. Perhaps shares were helped higher on news Leap Wireless International joined “team Sprint” in opposing the $39 billion acquisition of T-Mobile by AT&T. Shares in Sprint Nextel Corp. may also be higher ahead of the Thursday release of Google’s mobile-payment service, which will operate on Sprint’s phones. Investors positioning for the uptrend to continue over the long term initiated bullish plays in the November contract. It looks like traders are employing ratio call spreads, buying roughly 2,500 calls at the November $7.0 strike for an average premium of $0.31 each, and selling around 5,000 calls up at the higher November $8.0 strike at an average premium of $0.14 apiece. Net premium required on average to establish the trade amounts to just $0.03 per contract. Ratio call spreaders stand prepared to make money in the event that Sprint’s shares surge 19.2% over today’s high of $5.90 to surpass the average breakeven price of $7.03 by expiration day in November. Maximum potential profits of $0.97 per contract are available on the transaction should the price of the underlying stock jump 35.6% to settle at $8.00 at expiration. Sprint Nextel Corp. shares last traded above $7.03 back in September 2008. The sale of twice as many of the higher-strike calls substantially lowered the price at which call spreaders break even, but also ups the amount of risk undertaken on the position. The uncovered short calls may result in losses in the event that shares spike above the upper breakeven price of $8.97 at expiration in November. Options implied volatility…
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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!

 
 

Zero Hedge

Shocking Bank Of Japan Trick And QE Boosting Treat Sends Futures To Record High

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Two days ago, when QE ended and knowing that the market is vastly overstimating the likelihood of a full-blown ECB public debt QE, we tweeted the following:

It's all up to the BOJ now

— zerohedge (@zerohedge) October 29, 2014

Little did we know how right we would be just 48 hours later.

Because as previously reported, the reason why this morning futures are about to surpass record highs is because while the rest of the world was sleeping, the BOJ stunned those few who were looking at Bloomberg screens with a decision to boost QE, announcing it would monetize JPY80 trillion in JGBs...



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Phil's Favorites

Looking for a Good Education at a Low Price, Perhaps Free? Head to Europe

Courtesy of Mish.

On June 7, 2014 I wrote Looking to Drastically Reduce College Costs? Study Abroad!

Yesterday, a writer for the Washington Post expressed the same opinion.

Please consider 7 countries where Americans can study at universities, in English, for free (or almost free). Since 1985, U.S. college costs have surged by about 500 percent, and tuition fees keep rising. In Germany, they've done the opposite.

The country's universities have been tuition-free since the beginning of October, when Lower Saxony became the last ...



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Chart School

Moving Averages: Month-End Preview

Courtesy of Doug Short.

Here is a preview of the monthly moving averages I track after the close of the last business day of the month. All three S&P 500 strategies are now signaling "invested" -- unchanged from last month. Two of the five of the Ivy Portfolio ETFs, the PowerShares DB Commodity Index Tracking (DBC and the Vanguard FTSE All-World ex-US ETF (VEU), are signal cash "cash" -- also unchanged from last month.

If a position is less than 2% from a signal, it is highlighted in yellow.


Note: My inclusion of the S&P 500 index updates is intended to illustrate a popular moving moving-average timing strategy. The index signals also give a general sense of how US equities are behaving. Howe...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Insider Scoop

Jennings Capital Downgrades Ballard Power Systems

Courtesy of Benzinga.

Related BLDP Lake View: Ballard Power Systems 'Making Progress' Morning Market Movers

Jennings Capital downgraded Ballard Power Systems Inc. (NASDAQ: BLDP) in a report issued Thursday from Buy to Hold and lowered its price target from $5 to $3.

Analyst Dev Bhangui noted that the company "reported Q3/14 results that were below our and consensus estimates. EPS were ($0.02) versus JCI and consensus of ($0.01). Revenue and gross margin m...



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Sabrient

Sector Detector: Bullish conviction returns, but market likely to consolidate its V-bottom

Courtesy of Sabrient Systems and Gradient Analytics

Bulls showed renewed backbone last week and drew a line in the sand for the bears, buying with gusto into weakness as I suggested they would. After all, this was the buying opportunity they had been waiting for. As if on cue, the start of the World Series launched the rapid market reversal and recovery. However, there is little chance that the rally will go straight up. Volatility is back, and I would look for prices to consolidate at this level before making an attempt to go higher. I still question whether the S&P 500 will ultimately achieve a new high before year end.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then o...



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OpTrader

Swing trading portfolio - week of October 27th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the latest Stock World Weekly. Enjoy!

(As usual, use your PSW user name and password to sign in. You may also take a free trial.) 

 

#455292918 / gettyimages.com

 

...

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Market Shadows

Bill Ackman's Big Pharma Trade Is Making Wall Street A Super Awkward Place

 

#452525522 / gettyimages.com

Intro by Ilene

If you're following Valeant's proposed takeover (or merger) of Allergan and the lawsuit by Allergan against Valeant and notorious hedge fund manager William Ackman, for insider trading this is a must-read article. 

Linette Lopez describes the roles played by key Wall Street hedge fund owners--Jim Chanos, John Paulson, and Mason Morfit, a major shareholder in Valeant. Linette goes through the con...



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Option Review

LUV Options Active Ahead Of Earnings

There is lots of action in Southwest Airlines Co. November expiry call options today ahead of the air carrier’s third-quarter earnings report prior to the opening bell on Thursday. Among the large block trades initiated throughout the trading session, there appears to be at least one options market participant establishing a call spread in far out of the money options. It looks like the trader purchased a 4,000-lot Nov 37/39 call spread at a net premium of $0.40 apiece. The trade makes money if shares in Southwest rally 9.0% over the current price of $34.32 to exceed the effective breakeven point at $37.40, with maximum potential profits of $1.60 per contract available in the event that shares jump more than 13% to $39.00 by expiration. In September, the stock tou...



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Digital Currencies

Goodbye War On Drugs, Hello Libertarian Utopia. Dominic Frisby's Bitcoin: The Future of Money?

Courtesy of John Rubino.

Now that bitcoin has subsided from speculative bubble to functioning currency (see the price chart below), it’s safe for non-speculators to explore the whole “cryptocurrency” thing. So…is bitcoin or one of its growing list of competitors a useful addition to the average person’s array of bank accounts and credit cards — or is it a replacement for most of those things? And how does one make this transition?

With his usual excellent timing, London-based financial writer/actor/stand-up comic Dominic Frisby has just released Bitcoin: The Future of Money? in which he explains all this in terms most readers will have no tr...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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