Posts Tagged ‘CTXS’

Vonage Shares Rally To Highest Level In Two Years

VG – Vonage Holdings Corp – Options volume on communications services company Vonage is up sharply today, with over 1,100 contracts changing hands during morning trading versus average daily options volume of around 65 contracts, after the company agreed to acquire privately-held company Vocalocity, Inc. for $130 million in cash and stock. Shares in Vonage are soaring on the news, up as much as 23% to touch a new two-year high of $3.75 during the first half of the session.

Traders taking to Vonage options in the early going on Thursday appear to be buying upside calls on the stock. The most traded contracts so far today are the Oct $4.0 strike calls, with around 500 lots purchased at a premium of $0.05 each. Traders also appear to have purchased around 300 of the Nov $4.0 strike calls for a premium of $0.15 apiece. Buyers of the Nov $4.0 strike calls may profit at expiration next month if shares in VG rally another 11% to exceed the breakeven price of $4.15 each. Shares in Vonage last traded above $4.15 in July of 2011. 

CTXS – Citrix Systems, Inc. – Shares in cloud computing company, Citrix Systems, dropped 13% on Thursday morning to as low as $58.00 after the company yesterday announced preliminary third-quarter results, lowering its revenue guidance to a range of $710 to $712 million from a previous estimate of $730 to $740 million, and reducing net income expectations to a range of $0.39 to $0.40 a share from previous guidance of $0.41 to $0.42 a share. The release of disappointing preliminary results and the subsequent sharp drop in the price of the underlying sparked heavier than usual trading in CTXS options today.

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Sharp Rally A Boon To Citrix Systems Call Buyer

Today’s tickers: CTXS, XOP & HL

CTXS - Citrix Systems, Inc. – Shares in Citrix Systems, Inc. rallied to their highest level since the end of July after the company reported third-quarter earnings and fourth-quarter estimates that beat expectations. The stock currently trades 15.2% higher on the session at $73.99, after soaring as much as 21.5% to an intraday high of $78.00. Huge gains in the price of the software maker’s shares appears to have worked out nicely for one options player who may be taking profits off the table today. Citrix call activity spiked in the first 30 minutes of the session after large numbers of deep in-the-money and out-of-the-money calls changed hands in the November contract. It looks like the investor may have snapped up around 4,875 calls at the Nov. $65 strike for a premium of $4.10 each back on October 18, when shares in Citrix closed the day at $64.50. The massive rally in the price of the underlying stock today more than doubled premium required to purchase Nov. $65 call options. The investor appears to have sold the batch of calls purchased on Oct. 18 this morning for an average premium of $11.07 per contract. Average net profits on the sale amount to $6.97 per contract. Finally, the sale of the call options was tied to the opening purchase of roughly 4,800 Nov. $75 strike calls for an average premium of $3.93 apiece. The fresh bullish stance may be profitable if shares in Citrix Systems extend gains through expiration next month. Profits are available on the new position if shares in CTXS increase another 6.6% over the current price of $73.99 to surpass the average breakeven point at $78.93 at expiration day. Options implied volatility on the stock fell 19.3% to a two-month low of 45.35% this afternoon.

XOP - SPDR S&P Oil & Gas Exploration & Production ETF – The buyer of a large batch of put options on the XOP may have cut his losses this morning on the heels of a more than 8.0% rally in the price of the underlying since the bearish position was initiated. Shares in the XOP, an exchange-traded fund that tracks the performance of an index derived from the oil and gas exploration and production segment of a U.S. total market composite index, are up 4.9% today at $55.85 just before 1:00 pm EDT. On Tuesday, options volume at the Nov.…
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Bullish and Bearish Traders Descend on Citrix Systems, Inc. options

 Today’s tickers: CTXS, MTB, HERO & TSYS

CTXS - Citrix Systems, Inc. – Shares of the software company fell as much as 11.2% this morning to touch an intraday low of $62.16 following cautious words from the firm’s CEO regarding its new product launch. Citrix Systems’ shares are currently down 9.10% at $63.62 just before 12:00 pm ET. Initially, options investors reacted by initiating bearish transactions, but it looks like contrarian players swooped in to purchase bull call spreads in order to position for shares to reverse course ahead of December expiration. Bullishness on the stock may have followed Pacific Crest’s comment that Citrix’s third-quarter is likely to be ok. The company reports its results for the third-quarter after the market closes on October 21, 2010. Bears were quick to purchase put options and sell out-of-the-money calls in the October contract. Investors picked up 1,000 puts at the October $60 strike for a premium of $0.90 each. Put buyers at this strike make money if CTXS shares fall 7.1% from the current price of $63.63 to breach the effective breakeven point to the downside at $59.10 by expiration day. Traders also purchased 1,500 puts at the October $62.5 strike at an average premium of $1.39 a-pop, which yields an average breakeven price of $61.11. Pessimists sold some 1,100 calls at the October $67.5 strike for a premium of $0.76 each, and shed 4,700 calls at the higher October $70 strike to receive an average premium of $0.49 apiece. Call sellers keep the premium received on the sale as long as shares of the underlying stock fail to rally above the strike prices described through October expiration. Investors expecting Citrix Systems’ shares to recover by December expiration purchased call spreads, buying 5,000 calls at the December $65 strike for an average premium of $4.70 each, and selling the same number of calls at the December $70 strike at an average premium of $2.59 apiece. Average net premium paid to initiate the spread amounts to $2.11 per contract. Thus, the medium-term bullish players are poised to profit should shares surge 5.5% over the current price to surpass the effective breakeven point at $67.11 by December expiration day. Maximum potential profits…
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Bears Once Again Bombard Financial Select Sector SPDR (XLF)

Today’s tickers: XLF, CECO, SLB, CTB, WFC, CACI, WSM, CTXS & FITB

XLF – Financial Select Sector SPDR – A massive put spread comprised of approximately 200,000 put options on the XLF, an exchange-traded fund that corresponds to the price and yield performance of the Financial Select Sector of the S&P 500 Index, indicates investor pessimism is alive and well despite positive first-quarter earnings announcements from a number of large financial firms this week. Bearish plays also dominated activity on the XLF earlier in the week. Shares of the underlying fund are currently down 1.2% to $16.54 as of 3:10 pm (ET). The pessimistic options player appears to have purchased roughly 100,000 put options at the June $16 strike for an average premium of $0.39 each, marked against the sale of about the same number of puts at the lower June $15 strike for $0.16 apiece. Net premium paid for the spread amounts to $0.23 per contract. The massive size of the transaction suggests the trade was initiated by an investor seeking downside protection on sizeable underlying stock positions in either the XLF itself, related holdings of the fund, or perhaps both, through June expiration. Suppose the investor is building up insurance on a large position in the underlying shares of the XLF. In this scenario, downside protection kicks in should shares of the XLF breach the effective breakeven point on the spread at $15.77 ahead of June expiration. Options players exchanged more than 415,000 option contracts on the XLF as of 3:10 pm (ET), with put options trading more than 3.5 times to each single call option in play today.

CECO – Career Education Corp. – Shares of the provider of private, for-profit, postsecondary education in the United States jumped 4.8% during the session to a new 52-week high of $35.41 after the firm received an upgrade to ‘overweight’ from ‘equal weight’ at Barclays Capital today. Options movement on the stock suggests one investor was prepared for the breakout in CECO’s shares. It looks like the investor first banked profits today by selling a previously established long call position in the July contract, and next extended and augmented bullish sentiment on the stock by purchasing fresh calls at a higher strike price. The trader likely purchased 1,900 calls at the July $35 strike f or an average premium of $1.70 each back on March 17, 2010, when shares of…
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Bears Once Again Bombard Financial Select Sector SPDR (XLF)

Today’s tickers: XLF, CECO, SLB, CTB, WFC, CACI, WSM, CTXS & FITB

XLF – Financial Select Sector SPDR – A massive put spread comprised of approximately 200,000 put options on the XLF, an exchange-traded fund that corresponds to the price and yield performance of the Financial Select Sector of the S&P 500 Index, indicates investor pessimism is alive and well despite positive first-quarter earnings announcements from a number of large financial firms this week. Bearish plays also dominated activity on the XLF earlier in the week. Shares of the underlying fund are currently down 1.2% to $16.54 as of 3:10 pm (ET). The pessimistic options player appears to have purchased roughly 100,000 put options at the June $16 strike for an average premium of $0.39 each, marked against the sale of about the same number of puts at the lower June $15 strike for $0.16 apiece. Net premium paid for the spread amounts to $0.23 per contract. The massive size of the transaction suggests the trade was initiated by an investor seeking downside protection on sizeable underlying stock positions in either the XLF itself, related holdings of the fund, or perhaps both, through June expiration. Suppose the investor is building up insurance on a large position in the underlying shares of the XLF. In this scenario, downside protection kicks in should shares of the XLF breach the effective breakeven point on the spread at $15.77 ahead of June expiration. Options players exchanged more than 415,000 option contracts on the XLF as of 3:10 pm (ET), with put options trading more than 3.5 times to each single call option in play today.

CECO – Career Education Corp. – Shares of the provider of private, for-profit, postsecondary education in the United States jumped 4.8% during the session to a new 52-week high of $35.41 after the firm received an upgrade to ‘overweight’ from ‘equal weight’ at Barclays Capital today. Options movement on the stock suggests one investor was prepared for the breakout in CECO’s shares. It looks like the investor first banked profits today by selling a previously established long call position in the July contract, and next extended and augmented bullish sentiment on the stock by purchasing fresh calls at a higher strike price. The trader likely purchased 1,900 calls at the July $35 strike f or an average premium of $1.70 each back on March 17, 2010, when shares of…
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Long-Term Bullish Spread Unfolds On IBM

Today’s tickers: IBM, XLF, TXN, XLF, CTXS, EBAY, HAL & FITB

IBM – International Business Machines Corp. – A long-term bullish transaction on IBM suggests one investor is positioning for a significant boost in share price at the computer services firm by expiration in January 2011. IBM’s shares are trading 0.75% higher this afternoon to $126.47. The optimistic trader purchased a ratio call spread on the stock, buying 5,000 calls at the January 2011 $135 strike for an average premium of $6.24 apiece, and selling 10,000 calls at the higher January 2011 $150 strike for a premium of $2.33 each. The net cost of the ratio spread amounts to just $1.58 per contract. Thus, the trader accrues profits if IBM’s shares rally 8% over the current price to surpass the breakeven point at $136.58 by expiration next year. Maximum available profits of $13.42 per contract amass only if shares surge 18.60% to $150.00. IBM’s shares must increase to a new 52-week high in order for the investor to break even on the transaction. The current 52-week high on the stock is $134.25, attained back on January 19, 2010.

XLF – Financial Select Sector SPDR – Option traders continue to initiate bearish strategies on the financial ETF today despite the 0.90% rebound in shares of the underlying to $14.31. Earlier we reported a June $14/$10 ratio put spread, which established downside protection beneath a breakeven share price of $13.30. This afternoon we observed a similar transaction take place. Another pessimistic investor purchased an even larger ratio put spread in the June contract. It looks like this individual bought 27,500 puts at the now in-the-money June $15 strike for an average premium of $1.52 apiece, spread against the sale of 55,000 puts at the lower June $12 strike for about $0.39 each. The net cost of the ratio transaction amounts to $0.74 per contract, and provides downside protection beneath a breakeven share price of $14.26.

TXN – Texas Instruments, Inc. – Chipmaker, Texas Instruments, is scheduled to report fourth-quarter results after the closing bell this afternoon, and although analysts expect the firm to post profits of $0.49 per share on a 19% increase in sales, option traders initiated near-term protective plays. Shares of the semiconductor company are up 1.80% to $23.52 ahead of earnings. One investor established a bearish risk reversal by selling 5,000 calls at the February $24 strike for a…
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Option Trader Irons Out Bullish Risk Reversal on Vale

Today’s tickers: VALE, GLD, BKC, VIX, IYR, GPS, CTXS, JPM, JCG, BKC, & TIF

VALE – Vale S.A. – Iron ore producer, Vale, experienced a more than 2.5% rally in shares during the trading session to arrive at a new 52-week high of $29.64. A bullish risk reversal in the March 2010 contract today indicates at least one investor is positioning for continued upward movement in the price of VALE shares by expiration. The trader sold approximately 3,300 puts at the March 26 strike for an average premium of 1.29 apiece in order to finance the purchase of roughly 3,300 calls at the higher March 32 strike for 1.59 each. The net cost of the transaction amounts to 30 cents per contract and positions the investor to amass profits if shares surpass the breakeven price of $32.30 by expiration. Shares must jump at least 9% from the current price to breach the effective breakeven point on the trade.

GLD – SPDR Gold Trust ETF – Shares of the gold exchange-traded fund, which replicates the performance of the price of gold bullion, rose 1.5% today to yet another all-time high of $116.43. We observed bullish activity in the June 2010 contract by one investor who initiated a call spread on the fund. It appears the trader purchased 13,265 calls at the June 125 strike for an average premium of 5.95 each, spread against the sale of the same number of calls at the higher June 150 strike for 2.10 apiece. The net cost of the gold-spread amounts to 3.85 per contract. The investor responsible for the trade accumulates profits if shares rally 11% from the current price and surpass the breakeven point at $128.85. Maximum potential profits of 21.15 per contract are available to the trader in the event that shares of the GLD surge 29% to $150.00 by expiration day in June of 2010.

BKC – Burger King Holdings, Inc. – Burger King-bulls bought nearly 4,700 calls at the in-the-money December 17.5 strike for an average premium of 50 cents apiece. Such activity suggests investors expect shares to rally through $18.00 – the breakeven point on the calls – by expiration in December. Bullish sentiment on the flame-broiled burger maker is perhaps inspired by strength in the fast-food restaurant sector. Cash-strapped consumers, wary of the 10.2% unemployment rate, are likely trading down from moderately priced eateries to cheaper nosh provided…
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Staples Firm – Proctor & Gamble Options Suggest Further Upside

Today’s tickers: PG, CTXS, LINTA, HIG, CVS, UUP, VIX, AONE, SWKS, CLX, BCSI & NVDA

PG – The Proctor & Gamble Co. – Bullish action on Proctor & Gamble today suggests one investor expects shares to continue to rally ahead of expiration in November. Shares are currently trading 1% higher to $61.13. The trader purchased 10,000 calls at the now in-the-money November 60 strike for 1.39 each, and simultaneously sold 10,000 calls at the higher November 62.5 strike for 26 cents apiece. The net cost of buying the call spread amounts to 1.13 per contract and yields maximum potential profits of 1.37 each if shares rally up to $62.50 by expiration. Shares need only rally another 2.2% from the current price to reach the $62.50-level.

CTXS – Citrix Systems, Inc. – Software developer, Citrix Systems, attracted bullish option traders to the November contract today amid a 1% increase in shares to $38.80. Investors displayed optimistic sentiment on the stock by selling approximately 10,600 puts at the November 35 strike for 10 cents premium apiece. Put-sellers retain the full dime-per-contract as long as shares remain above $35.00 through expiration this month. Shares of CTXS have traded above $36.00 since September 4, 2009.

LINTA – Liberty Media Corp. – Shares of the broadcasting and entertainment company rallied 1% during the trading session to $12.14. Plain-vanilla call buying action on the stock today suggests some investors expect shares to rise significantly by expiration in January 2010. Traders purchased about 11,800 calls at the January 15 strike for an average premium of 25 cents apiece. Call-buyers will accumulate profits if shares surge at least 26% from the current price to surpass the breakeven point at $15.25 by expiration.

HIG – Hartford Financial Services Group, Inc. – Medium-term investors placed bearish bets on the insurance and financial services firm today. Shares are currently trading less than 0.25% higher to $24.16 after suffering significant erosion throughout the week. One pessimistic trader initiated a bearish risk reversal in the January 2010 contract. The investor sold 4,500 calls at the January 27 strike for an average premium of 78 cents apiece to partially finance the purchase of the same number of put options at the lower January 21 strike for 1.68 each. The net cost of the transaction is reduced to a more palatable 90 cents per contract, but does leave the investor exposed in the event of…
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Zero Hedge

BofA Is "So Bearish, It's Bullish", But Here Are The Signs The Top Is Near

Courtesy of ZeroHedge View original post here.

One week after BofA CIO Michael Hartnett pointed out the biggest asset bubble in the central bank era, where so-called tech "disruptors" (which we previously called e-commerce) have now surpa...



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The Technical Traders

Gold Rallies As Fear Take Center Stage

Courtesy of Technical Traders

Gold has rallied extensively from the lows near $1560 over the past 2 weeks.  At first, this rally didn’t catch too much attention with traders, but now the rally has reached new highs above $1613 and may attempt a move above $1750 as metals continue to reflect the fear in the global markets.

We’ve been warning our friends and followers of the real potential in precious metals for many months – actually since early 2018.  Our predictive modeling system suggests Gold will rally above $1650 very quickly, then possibly stall a bit before continuing higher to target the $1750 range.

The one thing all skilled traders must consider is the longer-term fear that is build...



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Phil's Favorites

Nondisclosure and secrecy laws protect Bloomberg - not the women who sued him

 

Nondisclosure and secrecy laws protect Bloomberg – not the women who sued him

Billionaire Mike Bloomberg and Sen. Elizabeth Warren had a heated exchange. AP Photo/John Locher

Courtesy of Elizabeth C. Tippett, University of Oregon

Billionaire and former New York City Mayor Michael Bloomberg received a lot of flak at the Feb. 19 Democratic debate for his refusal to release employees who sued his company from nondisclosure agreements.

He admitted to having a “few nondisclosure agreements,” after Sen. Elizabeth Warren ...



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Kimble Charting Solutions

Precious Metals Eyeing Breakout Despite US Dollar Strength

Courtesy of Chris Kimble

Gold and silver prices have been on the rise in early 2020 as investors turn to precious metals as geopolitical concerns and news of coronavirus hit the airwaves.

The rally in gold has been impressive, with prices surging past $1600 this week (note silver is nearing $18.50).

What’s been particularly impressive about the Gold rally is that it has unfolded despite strength in the US Dollar.

In today’s chart, we look at the ratio of Gold to the US Dollar Index. As you can see, this ratio has traded in a rising channel over the past 4 years.

The Gold/US Dollar ratio is currently attempting a breakout of this rising channel at (1).

This would come on further ...



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Insider Scoop

68 Stocks Moving In Friday's Mid-Day Session

Courtesy of Benzinga

Gainers
  • Trans World Entertainment Corporation (NASDAQ: TWMC) shares climbed 120.5% to $7.72 after the company disclosed that its subsidiary etailz entered into a deal with Encina for $25 million 3-year secured revolving credit facility.
  • Celldex Therapeutics, Inc. (NASDAQ: CLDX) fell 39.8% to $3.1744. Cantor Fitzgerald initiated coverage on Celldex Therapeutics with an Overweight rating and a $8 price target.
  • TSR, Inc. (NASDAQ: TSRI) gained 36.2% to $8.17.
  • ...


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Biotech & Health

Deep learning AI discovers surprising new antibiotics

 

Deep learning AI discovers surprising new antibiotics

A colored electron microscope image of MRSA. NIH - NIAID/flickr, CC BY

Courtesy of Sriram Chandrasekaran, University of Michigan

Imagine you’re a fossil hunter. You spend months in the heat of Arizona digging up bones only to find that what you’ve uncovered is from a previously discovered dinosaur.

That’s how the search for antibiotics has panned out recently. The relatively few antibiotic hunters out there ...



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Digital Currencies

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

 

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

‘We have you surrounded!’ Wit Olszewski

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

When bitcoin was trading at the dizzying heights of almost US$2...



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ValueWalk

What US companies are saying about coronavirus impact

By Aman Jain. Originally published at ValueWalk.

With the coronavirus outbreak coinciding with the U.S. earnings seasons, it is only normal to expect companies to talk about this deadly virus in their earnings conference calls. In fact, many major U.S. companies not only talked about coronavirus, but also warned about its potential impact on their financial numbers.

Q4 2019 hedge fund letters, conferences and more

Coronavirus impact: many US companies unclear

According to ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Tuesday, 01 October 2019, 02:18:22 AM

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Comment: Wall of worry, or cliff of despair!



Date Found: Tuesday, 01 October 2019, 06:54:30 AM

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Comment: Interesting.. Hitler good for the German DAX when he was winning! They believed .. until th...



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Members' Corner

How to Stop Bill Barr

 

How to Stop Bill Barr

We must remove this cancer on our democracy.

Courtesy of Greg Olear, at PREVAIL, author of Dirty Rubles: An Introduction to Trump/Russia

...



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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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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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