Posts Tagged ‘DSW’

Calls Active On DSW

Options are more active than usual on footwear and accessories retailer DSW Inc. (Ticker: DSW) today with shares in the name up 3.5% on the day at $28.65 in the first hour of today’s shortened trading session. Upwards of 3,500 options contracts have changed hands on DSW as of the time of this writing, which is more than five times the average daily reading of around 615 contracts. The bulk of the activity is in October expiry calls perhaps as some option traders position for the price of the underlying to continue to rise. Shares in DSW are up roughly 20% since the end of May when the stock touched a 52-week low of $23.45. Despite the recent move to the upside, shares in the retailer are still down more than 30% since the start of 2014.
The most traded options contracts on DSW this morning are the Oct 30.0 strike calls, with around 2,600 contracts in play against open interest of 1,748 positions. Time and sales data suggests most of the volume was purchased at a premium of $1.30 each. Call buyers may profit at expiration in October if shares in DSW rally another 9.0% over the current price of $28.65 to exceed the breakeven price of $31.30. Shares in DSW last traded above $31.30 back on May 27th. The company is likely to report second-quarter earnings at the end of August.


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Hewlett-Packard Put Options In Focus

Today’s tickers: HPQ, YHOO & DSW

HPQ – Hewlett-Packard Co. – Trading in January 2014 expiry put options on HPQ this morning suggests one strategist may be positioning for shares in the tech giant to weaken further during the next five months. Shares in Hewlett-Packard Co. are off their lows of the session, down 0.40% at $22.18 as of 12:10 p.m. ET. The stock has dropped 20% since the beginning of August, though shares are still up more than 50% year to date. One trader bracing for shares to move lower appears to have purchased 6,000 in the money put options at the Jan 2014 $24 striking price at a premium of $3.20 per contract. The puts make money at expiration if shares in HPQ decline another 6.0% from the current price of $22.18 to breach the effective breakeven point on the downside at $20.80. Shares in the name last traded below $20.80 at the end of May.

YHOO – Yahoo! Inc. – Weekly options changing hands on Yahoo today suggest some traders are positioning for a near term pop in the price of the underlying, while other strategists brace for selling pressure to persist during the next few trading sessions. Shares in YHOO are down 2.0% at $27.15 as of 12:30 p.m. ET. Options players looking for shares in the name to rebound appear to have purchased more than 400 in the money calls at the Aug 30 ’13 $27 strike for an average premium of $0.42 apiece. Call buyers may profit at expiration this week if shares in Yahoo rise 1.0% over the current price of $27.15 to settle above the average breakeven price of $27.42. Conversely, traders snapping up more than 750 of the Aug 30 ’13 $26.5 strike put options for an average premium of $0.08 per contract today are prepared to…
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Retail Options In Focus

Today’s tickers: DSW, BKS & FOSL

DSW - DSW Inc. – Shares in the footwear retailer are up 3.05% in early-afternoon trade to stand at $43.19, and options activity in the April expiry calls and puts suggests the stock may continue to march higher during the next four months. One strategist appears to have sold put options on DSW to offset the cost of buying a bull call spread, a position that yields maximum possible profits in the event of a more than 15.0% rally in the shares. The investor likely sold roughly 400 puts at the April $38 strike in order to purchase a roughly 400-lot April $43/$50 call spread, done at an average net credit of $0.40 per contract. The trader walks away with the net credit in hand as long as DSW’s shares exceed $38.00 at expiration day in April. Additional gains accumulate on the upside above the breakeven price of $43.00, with maximum potential profits of $7.40 per contract – including the $0.40 net credit – available on the trade if the stock soars 15.8% to top $50.00 at expiration in April. Shares in DSW last traded above $50.00 in mid-November 2011.

BKS - Barnes & Noble, Inc. – Bookseller Barnes & Noble forecast a wider-than-expected fiscal 2012 loss in a statement today, pushing shares in the name down as much as 31.0% to an intraday low of $9.35, and driving up demand for BKS options. Put options in the front month are most active, but it appears much of the volume was generated by sellers. Investors selling puts on the name receive premium in exchange for bearing the risk that the bookseller’s shares continue to hemorrhage in the next couple of weeks to January expiration. The Jan. $7.5, $9.0 and $10 strike put options attracted the heaviest volume. One block…
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Bears Leave Footprints in DSW, Inc. Put Options Ahead of Earnings

Today’s tickers: DSW, LNCR, VGZ, S, APOL, CAL & JCG

DSW – DSW, Inc. – Options traders are picking up put options on the footwear retailer ahead of the firm’s second-quarter earnings report, scheduled for release ahead of the opening bell on August 31, 2010. DSW’s shares fell 2.5% to $24.09 in late afternoon trading. Pessimistic players purchased approximately 3,400 put options at the October $22.5 strike for an average premium of $1.53 a-pop. Put buyers are poised to profit should DSW’s shares plummet 12.95% from the current price of $24.09 to breach the average breakeven point to the downside at $20.97 by expiration day in October. Options implied volatility on the stock is up 5.2% as of 3:30 pm ET.

LNCR – Lincare Holdings Inc. – The provider of oxygen and other respiratory therapy services popped up on our ‘hot by options volume’ market scanner today after bullish call buying was detected in the January 2011 contract. Lincare’s shares are up 0.50% to stand at $23.51 with just under 30 minutes remaining in the trading session. Investors positioning for substantial share price appreciation by expiration next year purchased roughly 1,100 calls at the January 2011 $27.5 strike for an average premium of $0.86 each. Call buyers at this strike make money if Lincare’s shares jump 20.6% to exceed the average breakeven price of $28.36 by expiration day. Bullishness spread to the higher January 2011 $30 strike where optimistic individuals scooped up more than 2,900 call options at an average premium of $0.45 apiece. Investors long the higher-strike contracts are prepared to accrue profits should LNCR’s shares surge 29.5% to trade above the effective breakeven price of $30.45 by expiration day next year. Lincare’s shares last traded above $30.45 back on July 1, 2010.

VGZ – Vista Gold Corp. – Bullish investors are mining for call options on the gold exploration and development company today, which suggests some traders expect Vista’s shares to head higher by the end of 2010. The Colorado-based company’s shares jumped 20.4% to touch an intraday high of $2.30. Investors in Vista Gold Corp. shares have had a fruitful month thus far. The stock is currently trading at a 76.9% premium over its July 28 low of $1.30 a share. Options strategists hoping to see the good times continue through to December expiration scooped up approximately 2,000 calls at the December $2.5 strike by shelling out…
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Goldman Sachs-Bulls with Butterfly Wings are at it Again

Today’s tickers: GS, WU, DSW, MGM, WMT, BAC, EEM, WLP, HD & MMM

GS – Goldman Sachs Group, Inc. – Goldman-optimists are once again employing bullish butterfly spreads on the stock in order to efficiently position themselves to profit from an eventual rebound in the investment banking firm’s share price. Goldman Sachs, one of the top tickers on our ‘most active by options volume’ market scanner, glowed green amid a sea of red today as its shares inched up 1.75% to $154.69 as of 3:20 pm (ET). The bullish butterfly spread initiated on GS this afternoon yields maximum benefits to the investor responsible for the transaction if shares of the underlying stock jump back up to $175.00 by October expiration. The parameters of this spread are a bit different than the larger-volume butterfly spread we reported on Monday afternoon, which prepared an investor to reap maximum profits should Goldman’s shares rally up to $160.00 by expiration day. Today’s transaction involved the purchase of 2,000 calls at the October $160 strike for an average premium of $12.80 apiece [wing 1], and the purchase of another 2,000 calls at the higher October $190 strike for $3.90 each [wing 2]. The body of the butterfly was established at the central October $175 strike where 4,000 calls were sold for $7.20 a-pop. Net premium paid for the spread amounts to $2.30 per contract. The net cost of the trade pales in comparison to maximum available profits of $12.70 per contract, which the trader pockets if Goldman’s shares surge 13% over the current price to settle at $175.00 at expiration. The butterfly-spreader starts to make money as long as shares of the underlying stock increase 4.9% to surpass the breakeven point to the upside at $162.30 ahead of October expiration.

WU – Western Union Co. – Shares of the world’s largest money-transfer business surged 9.25% to an intraday high of $19.57 after the firm posted first-quarter earnings of $0.30 per share, which satisfied average analyst forecasts. A couple of analysts raised target share price estimates for Western Union following the positive earnings report. WU’s target price was bumped up to $23 from $19 at Susquehanna, in addition to the move up to $21 from $18 at D.A. Davidson today. Western Union’s current CEO, Christina Gold, is also reportedly handing over the reins to the current COO, Hikmet Ersek, on September 1, 2010. One Western Union…
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Phil's Favorites

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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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