Posts Tagged ‘KORS’

BlackBerry Options In Focus As Shares Hit Highest In 7 Weeks

BBRY – BlackBerry Ltd. – Shares in BlackBerry are moving higher today, up as much as 7.3% during the first half of the session to touch $7.75, the highest level since November 1st. Today’s gains add to the strong rally in BBRY shares seen on Friday on the heels of comments from the company’s interim CEO, John Chen. Currently trading at $7.64 on the day, the stock is up 40% since touching down at a record low of $5.44 on December 10th.

Upwards of 100,000 contracts have changed hands on BlackBerry as of 12:30 p.m. EST on Monday, which is around the total options volume the stock sees on average each day. Trading in BBRY calls is outpacing that of puts, with the call/put ratio hovering near 3.0 as of the time of this writing. Trading in far out of the money put options expiring in March, however, indicates some traders are prepared for the rebound in the price of the underlying to potentially reverse course during the next few months. It looks like traders snapped up around 2,500 of the Mar ’14 $4.0 strike puts at a premium of $0.08 each. The contracts may be profitable at expiration if shares in BlackBerry plunge roughly 50% from the current price of $7.64 to breach the breakeven point on the downside at $3.92. 

KORS – Michael Kors Holdings Ltd. – Options on Michael Kors are more active than usual today, with volume above 12,000 contracts as of 11:30 a.m. EST versus the stock’s average daily options volume of around 7,800 contracts. Shares in the retailer fell 5.1% to $79.59 during morning trading on cautious comments regarding holiday sales from an analyst at Wedbush Securities, which has an ‘Outperform’ rating on Kors and a target price of $84.00 on the stock.

Trading in KORS weekly call and put options this morning suggests one trader is positioning for the price of the underlying to remain volatile this week. It looks like one strategist purchased a 300-lot 27 Dec ’13 $80 straddle for a net premium of $2.20 each. The position makes money if shares in the retailer rally above the upper breakeven price of $82.20 or below the lower breakeven point at $77.80 by expiration this week. 


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KORS Options Pop After Earnings Surprise; Anadarko Call ‘Fly Sees Further Upside

 

Today’s tickers: KORS, APC & GPS

KORS - Michael Kors Holdings Ltd. – Shares in luxury apparel and accessories retailer, Michael Kors Holdings Ltd., are soaring today after the company posted better-than-expected first-quarter earnings and same-store sales and raised its forecast for second-quarter and full year profit. The stock jumped 16% in the first half of the session to an intraday high of $49.12, nearing its post-IPO high of $50.69 reached back in March. One options strategist who initiated a three-legged bullish spread in the September expiry contracts yesterday ahead of the earnings report this morning saw the value of his or her position skyrocket overnight. It appears the trader sold 525 of the Sept. $36 strike put in order to partially offset the cost of buying a 525-lot Sept. $43/$48 call spread. The sale of the $36 puts and the $48 calls reduced the premium required to get long the Sept. $43 strike calls to just $0.70 per contract from the asking price of $2.82 apiece, effectively lowering the breakeven point to $43.70 from $45.82 while limiting profits to a maximum of $4.30 per contract. Shares in the name are currently above $48.00; if the stock exceeds $48.00 at September expiration, the options trader may walk away with the maximum payout available on the spread. Alternatively, the strategist could choose to take substantial profits off the table today or at some future date by buying-to-close the puts and selling-to-close the call spread.

APC - Anadarko Petroleum Corp. – A large call butterfly spread initiated on Anadarko Petroleum Corp. this afternoon suggests one options player is positioning for the price of the underlying to post big gains during the next few months. Shares in the name, up 0.65% on the day at $68.95 as of 12:50 p.m. in New York, have rallied 22% off the June 4th 52-week low of $56.42, though the stock remains down 12% year to date despite the summer rebound. The…
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Tiffany Options Active As Shares Lead S&P 500 Gainers

 

Today’s tickers: TIF, KORS & CHS

TIF - Tiffany & Co. – Options on the world’s second-largest luxury jewelry retailer are mixed today, with much of the action centering in the front month calls and puts. The day’s volume, currently at 21,500 contracts as of 11:35 a.m. in New York, is more than twice the stock’s 90-day average volume of 9,971 options. The pick-up in options activity arrives on the heels of the Company’s fourth-quarter results and full-year earnings guidance ahead of the opening bell. The jeweler’s full-year earnings forecast at $4.05 per share beat analyst expectations, sending the price of the underlying up as much as 8.0% on Tuesday morning to $74.20. The sharp rally in Tiffany’s shares is a move one strategist had been positioning for last week. It appears the investor initiated a bull call spread back on Monday March 12, buying the April $70/$75 spread roughly 3,500 times at an average net premium of $1.54 per contract. The rise in open interest at both strikes in the days that followed may mean the trader added to the position last week. The bullish play on the jeweler is working out so far, with the shares well above an estimated breakeven share price of $71.54 on the spread. The trader walks away with maximum available profits as long as Tiffany’s shares move up another 1.1% over today’s high of $74.20 to top $75.00 at expiration next month.

KORS - Michael Kors Holdings, Ltd. – The number of open options positions on Michael Kors Holdings, Ltd., as measured by open interest of 30,337 total contracts, is roughly 65.0% comprised of call positions. The preponderance of open KORS calls versus puts was heightened yesterday by one large transaction involving roughly 10,200 far out-of-the-money front month calls. The Company…
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Michael Kors Options On Trend After Earnings Blowout

 

Today’s tickers: KORS, AMLN & ACI

KORS - Michael Kors Holdings Ltd. – A number of options strategists appear to have benefitted handsomely from bullish positions held in the House of Kors today, with shares in the luxury retailer ballooning on better-than-expected third-quarter earnings. Shares in Michael Kors Holdings Ltd. have more than doubled since the December IPO, trading 22.7% higher on the day at $41.25 as of 11:40 a.m. Options on Kors are abuzz with after-earnings activity, with around 3.6 call options changing hands for each single put option in play. Some traders that placed bullish bets on the retailer in the weeks leading up to earnings in some cases saw the value of their positions sky-rocket. One buyer of a 1,500-lot Feb. $34/$37 call spread at an average net premium of $1.05 per contract on Feb. 9th may reel in maximum possible profits on the position at expiration, given shares in KORS are now trading well above the upper $37 strike. Call open interest in the front month is heaviest at the $33 strike where more than 5,480 positions were opened before today. It looks like most of the volume was generated in a single block of 4,831 calls that traded at $1.15 each on Feb 7th. The calls traded to the middle of the market one week ago with the bid/ask showing $1.05/$1.30. Today, these deep in-the-money calls trade at bid/ask of $8.20/$8.40 as of 12:15 p.m. The impact of better-than-expected earnings on the shares certainly makes for a happy Valentine’s Day for the trader in the event he or she purchased the contracts last week or a rather Grey day were the calls originally sold. Finally, investors positioning for shares in Kors to extend gains snapped up in-the-money calls at the $40 strike in February and March, as well as picked up around 255 calls out at the May $44 strike at an average premium of $1.56 each.…
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Phil's Favorites

A Reluctant Optimist

 

A Reluctant Optimist

Courtesy of Scott Galloway, No Mercy/No Malice@profgalloway

Optimists are overrated. With Big Tech, Covid-19, or Putin, would we have been better off listening to the optimists or the pessimists? People think it takes optimism to be an entrepreneur. Not so — in my case, it just required the self-awareness to know I didn’t have the skills to succeed in a big company. Optimism is required to be an early stage investor, however. I typically invest in later stage growth firms, as my reaction to every startup idea is “there’s NFW that will work.”

I believe pessimists make better operators. I, no joke, sit awake at night and imagine everything that ca...



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Zero Hedge

Australia Takes China To WTO Over Wine Tariffs As Biggest Export Market Gutted 

Courtesy of ZeroHedge View original post here.

Australia continues reeling from its ongoing trade war with China, lately seeing retaliatory tariffs cause the price of wine to double or triple in China, essentially wiping out Australia's biggest export market. 

And now the Aussie government is lodging a formal complaint with the World Trade Organization - specifically over its imposition of anti-dumping duties on Australian wines.

Saturday's announcement marks yet another major esca...



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Biotech/COVID-19

Counterfeiting - the underworld threat to beating COVID-19

 

Counterfeiting – the underworld threat to beating COVID-19

Counterfeit vaccines, testing kits, and vaccine passports are undermining the global fight against COVID-19. AnaLysiSStudiO/Shutterstock

Courtesy of Mark Stevenson, Lancaster University

While the word “counterfeit” may conjure up images of fake cash and knock-off handbags, the pharmaceutical industry – and with it, the fight against COVID-19 – has been significantly affected by illicit goods.

In a major operation, Interpol recently ...



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Chart School

RTT Plus Bulletin

Courtesy of Read the Ticker

RTT Plus private blog answer these questions over the last two weeks.

Ending: 2021-06-19

- Metal stocks very bullish after gold smash
- FED taper talk vs Basel 3
- Dollar devaluatioin before end of 2021
- COVID, Vaccine insight (off topic)
- The next play for the deep sate (off topic)
- The debt loaded USA can not break these economic stats


RTT Plus membership required to review.

RTT Plus members can include chart building services if you wish. If you you do not want chart building services select 'RTT Plus' only during the membership sign up process.

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Politics

The Ukraine Fallacies (with Victor Rud)

 

The Ukraine Fallacies (with Victor Rud)

Americans are confused about the history of Ukraine. That's just how Russia wants it.

Courtesy of Greg Olear, at PREVAIL

Greg is the author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Promotions

Live Webinar with Phil on Option Strategies

 

June is TD Bank's Option Education Month, and today (Thursday, June 10) at 1 pm EST, Phil will speak with host Bryan Rogers about selling options and various option strategies that we use here at Phil's Stock World. Don't miss this event!

Click here to register for TD's live webinar with Phil.

 

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Digital Currencies

Crypto: Congress Dawdles as $1.7 Trillion Con-Game Goes Unregulated, Threatening Reputation of U.S. Markets

Courtesy of Pam Martens

If you want to get your hair cut outside of your home in the United States, the job has to be done by a licensed worker at a regulated business. The same thing applies to plumbers, electricians, home inspectors, real estate and insurance agents. They all require a license and are subject to regulatory scrutiny.

Likewise, commodities like corn, sugar, wheat, lumber and oil are all traded on regulated exchanges which are overseen by a federal regulator.

But, for reasons that have yet to be explained to the American people, when it comes to the $1.7 trillion cryptocurrency market – which is effectively a con-g...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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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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