Posts Tagged ‘MYGN’

Deal Announcement Spurs Action In Gannett Co. Options

Today’s tickers: GCI, KO & MYGN

GCI - Gannett Co., Inc. – Shares in USA Today publisher, Gannett Co., Inc., jumped nearly 30% at the start of the trading session to a five-year high of $25.69 after the company agreed to purchase Belo Corp. for $1.5 billion in cash and assume $715 million in existing debt. The merger will make Gannett the fourth-largest U.S. owner of major network affiliates, doubling the company’s existing broadcast portfolio from 23 to 43 stations, according to a press release issued by the companies. The announcement and subsequent double-digit percentage move in the price of GCI shares sparked heavier than usual options activity on the stock today. Upwards of 9,500 contracts have changed hands on Gannett as of 11:50 a.m. ET versus average daily volume of around 2,100 contracts. It looks like some traders are purchasing put options on Gannett today, perhaps positioning for shares in the name to surrender some of the gains in the near term. Front month put buyers looked to the Jun $25 and $26 strikes, picking up around $350 of the $25 strike puts for an average premium of $0.82 apiece, and buying 200 of the $26 strike puts at a premium of $1.15 each. Traders may profit at expiration next week should shares in GCI decline 5.9% and 3.3% from today’s high of $25.69 to breach average breakeven points on the downside at $24.18 and $24.85, respectively. Similar strategies were initiated in the Jul $24 and $25 strike put options in the early going on Thursday.

KO - Coca-Cola Co. – Mixed trading in weekly options on Coca-Cola Co. this morning suggests some traders are positioning for shares in the world’s largest beverage company to move ahead of the weekend. The stock is currently down 1.25% at $39.89 as of 12:10 p.m. ET, even as U.S. stocks rebound following three consecutive days of declines. One trader betting shares in KO reverse declines by expiration appears to have purchased around 1,300 calls at the Jun 14 ’13 $40 strike…
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Sony Options Active As Shares Hit Fresh 52-Week High

 

Today’s tickers: SNE, ERF & MYGN

SNE - Sony Corp – Big prints in Sony Corp. call and put options this morning pushed the consumer electronics maker onto our ‘hot by options volume’ market scanner in the early going on Monday, with overall volume up above 21,000 contracts versus the stock’s average daily volume of roughly 8,000 contracts. Trading traffic in the June expiry options suggests one or more traders are near term bullish on the prospects for the price of the underlying shares. The stock is up nearly 5.0% on the day to stand at $18.78 as of 11:25 a.m. ET. The Jun $17 strike puts traded 8,900 times versus open interest of just 232 contracts during the first 20 minutes of the session. It looks like the puts were sold for a premium of $0.25 apiece. Similarly, roughly 2,090 of the Jun $16 strike puts appear to have been sold at the same time for a premium of $0.10 each. Maximum potential profits equal to premiums received on the transactions are available at June expiration as long as Sony’s shares exceed the stated striking prices. Meanwhile, less than 10 minutes after the puts traded, roughly 5,800 of the Jun $19 strike calls were purchased for an average premium of $0.80 per contract. The calls make money at expiration should shares in Sony Corp. rally another 5.4% to surpass the average premium price of $19.80.

ERF - Enerplus Corp – Shares in North American independent energy company, Enerplus Corp, are up more than 5.0% on Monday to stand at $15.84 as of 11:45 a.m. ET. The operator of oil and gas properties in Canada and the U.S. was upgraded to ‘Outperform’ from ‘Market Perform’ at Raymond James today. Options activity on Enerplus this morning indicates at least one strategist is positioning for shares in the name to rally to the highest level since October of 2012 during the next couple of months. The July $17 strike calls have traded around 1,100 times as of midday in New…
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Bullish Bets On UnitedHealth Working As Shares Sprint Higher

 

Today’s tickers: UNH, MYGN & OMPI

UNH - UnitedHealth Group, Inc. – Shares in UnitedHealth rose sharply in after-hours trading on Monday after the U.S. government reversed an earlier decision to reduce a Medicare payment rate and instead offer an increase in the rate. Bullish bets initiated on UnitedHealth ahead of the federal government’s announcement yesterday generated big gains for some traders, with shares in UNH surging 8.4% to $63.95 in the early going today, the highest level since 2005. Open interest in weekly call options on UNH is greatest in the April 05 ’13 $57.5 and $60 strike calls, with more than 1,300 open contracts each. A review of time and sales data from the prior two trading session indicates most of the $57.5 strike calls were purchased ahead of the long weekend at an average premium of $0.39 each, while the $60 strike calls were picked up yesterday for an average premium of $0.17 apiece. The sharp rally in UnitedHealth’s shares since these upside call options were purchased now finds the $57.5 and $60 strike calls changing hands at $5.45 and $3.30 apiece, respectively, as of 11:15 a.m. ET on Tuesday. Traders long the weekly calls ahead of the close on Monday are sitting on big paper profits worth many times the initial premium outlay today. Overall options volume on UnitedHealth on Tuesday morning is approaching 24,000 contracts as of the time of this writing, or roughly three times the stock’s average daily volume. Call options are more active than puts, with the call/put ratio hovering around 1.9 as of 11:20 a.m. in New York.

MYGN - Myriad Genetics, Inc. – Options changing hands on biotechnology company, Myriad Genetics, Inc., this morning suggests one trader is bracing for shares in the maker of molecular diagnostic tests to potentially decline sharply during the next few months. The stock is bucking the broad market trend today, trading down 0.60% at $24.97 as of 11:30 a.m. ET. Shares in Myriad have dropped roughly 10% since the start of 2013.…
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Heavy Action In BP Call Options With Earnings On The Horizon

 

Today’s tickers: BP, RSH, FTI & MYGN

BP - BP PLC – Far out-of-the-money call options on BP saw heavier-than-usual activity on Tuesday afternoon, with shares in the oil company trading up 1.3% at $44.70 as of 12:30 p.m. in New York. Fresh prints in March expiry calls may represent low-cost, low-probability bullish bets that shares in BP will rally sharply by expiration. BP is scheduled to release fourth-quarter earnings ahead of the opening bell on February 7, one week from today. Options traders exchanged more than 3,000 call options at the Mar. $49 strike against open interest of 621 contracts. The majority of the calls appear to have been purchased for an average premium of $0.22 apiece. Like-minded strategists snapped up some 3,500 calls at the higher Mar. $50 strike at an average premium of $0.11 each. Investors long the calls may profit at expiration in March in the event that BP’s shares soar 10.1% and 12.1% to exceed average breakeven prices of $49.22 and $50.11, respectively. Overall trading in BP options players are heavily favoring calls on the name over puts today, with more than 4.2 calls changing hands on the stock for each single put option in early-afternoon trade.

RSH - RadioShack Corp. – Shares in consumer electronics retailer, RadioShack Corp., plunged 30.0% to $7.15 on Tuesday after the Company revealed lower-than-anticipated preliminary fourth-quarter earnings and suspended stock buybacks. The breath-taking drop in the price of the underlying shares spurred some options traders to ready themselves for a potential rebound in the next few weeks. Call buyers looked to the Feb. $7.0, $8.0 and $9.0 strike calls, buying around 1,600, 3,200 and 235 contracts at each strike, respectively, this morning. Investors long the calls may have picked up the…
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A Little Cautious Optimism at Arena

Today’s tickers: ARNA, XLF, EEM, FXI, ARM, MAR & MYGN

ARNA - The clinical-stage biopharmaceutical company received a downgrade to ‘sell’ at EVA Dimensions this morning, perhaps prompting bearish put buying which we observed in the October contract. However, a contrarian trader took an opposing stance on the stock by utilizing puts at the same strike, albeit in a different manner. Shares have declined less than 0.5% to stand at the current price of $4.87. Plain-vanilla put buying earlier in the session matched the bearish downgrade. Approximately 10,000 puts were purchased at the October 4.0 strike price for an about 95 cents apiece. Traders holding the puts will begin to amass profits if shares of ARNA fall beneath the breakeven price of $3.05. An investor with a glass-half-full outlook on Arena chose to purchase a chunk of 10,000 puts at the same strike for a dollar a-pop. However, these put options were married to shares of the underlying stock because the trader is hoping for shares to appreciate. He has strategically used put options to protect his long stock position in case the value of the shares decreases ahead of expiration. –  Arena Pharmaceuticals, Inc. –

XLF - Shares of the financials ETF have surrendered less than 1% during the trading session to stand at $14.53. A long-term short strangle was positioned in the January 2011 contract by an investor expecting lower price volatility through expiration. It appears that the trader shed 8,000 puts at the January 13 strike price for a premium of 1.80 each and sold 8,000 calls at the higher January 17 strike for 1.40 apiece. The ‘strangler’ receives a gross premium of 3.20 per contract for a total of $2,560,000. He will make off like a bandit with his chunk of change as long as shares remain within the parameters of the strike prices described through expiration. The short put/call positions expose him to potential losses if the price of the XLF breaches the effective breakeven points. Losses begin to accrue if shares rise through $20.20 or fall beneath $9.80 by expiration. We note that this individual does not need to remain short through January in 2011. He may choose to take profits by making a closing purchase for a net price that is less than 3.20, or the premium received on today’s transaction. –  Financial Select Sector SPDR –

EEM - A large-volume put spread was initiated by…
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Bullish Vibes Radiate From Energy Fund

Today’s tickers: XLE, USU, XLP, MYGN, NYX & ELN

XLE – Investors were observed making bullish plays on the energy ETF today amid a modest share price rally of less than 1% to $48.17. The August 49 strike price had more than 10,000 calls purchased for an average premium of 2.09 per contract. Traders long of the calls are hoping to see shares of the XLE increase 6% to breach the breakeven point at $51.09 by expiration. Elsewhere, investors shed 10,000 puts at the January 2010 45 strike price for 3.65 apiece. It would seem that the put-sellers expect shares of the energy fund to remain higher than $45.00 at the start of 2010. The full premium received today for writing the puts is retained as long as the puts land out-of-the-money by expiration. Investors short the contracts bear the risk of having shares put to them at an effective price of $41.35. – Energy Select Sector SPDR

USU – The supplier of low enriched uranium (LEU) for commercial nuclear power plants was launched onto our ‘most active by options volume’ market scanner after a massive bearish play was initiated on the stock. Shares of USU are currently off by less than .5% to $5.30. An investor looking to extend downside protection on the stock through expiration in October appears to have sold 47,500 puts at the July 5.0 strike price for a premium of 40 cents apiece. The trader then purchased 47,500 puts at the October 5.0 strike for 1.00 per contract. The net cost of the spread amounts to 60 cents or a total of $2,850,000. It is unclear whether the investor was long 47,500 puts prior to today’s transaction. If he were originally long the puts, the trade today would merely represent an extension of downside protection through expiration in October. However, if the trader has sold 47,500 puts short in the July contract to fund the purchase of the October puts, he bears the risk of having shares of the underlying put to him at an effective price of $4.60 by expiration. Downside protection on the October 5.0 strike puts kicks in beneath the breakeven share price of $4.40. – USEC, Inc.

XLP – Shares of the consumer staples ETF have rallied approximately 2% to $23.45. The fund caught our eye after some 7,500 puts were purchased in the January 2010 contract at
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Investors dispute Monsanto “Hold” assessment

Today’s tickers: MON, HPQ, WFC, MYGN, QCOM, XLI, C, WFR, DRYS, FXI, AMD & RMBS

MON Monsanto Company – The St. Louis-based provider of herbicides, seeds, and related biotechnology trait products used to improve farming productivity, experienced a 1.5% decrease in shares to $82.13. Despite the slight decline, a report from Standard & Poor’s this morning noted that the agriculture sector experienced its strongest year in 2008, and further, that “seed and agriculture technology companies stand to benefit” from the health of the farm economy. Monsanto was highlighted for its solid research and development efforts and its promising estimates for earnings through 2012. However, one analyst did report that shares are “fairly valued” at $84.00, prompting a ‘hold’ recommendation. MON popped onto our market scanners after one investor initiated a bull call spread in the May contract. The purchase of 7,500 calls at the 95 strike price for 2.30 was spread against the sale of 7,500 calls at the 105 strike for 55 cents apiece. The net cost of this strategy amounts to 1.75 and yields a maximum potential profit of 8.25 if shares can rally upwards to $105 by expiration. Shares would need to grow by 28% in the next 2 months in order for this optimist to succeed in capturing the maximum profit of 8.25 by expiration day.

HPQ Hewlett-Packard Co. – In contrast to the call-selling witnessed yesterday in the options world, today investors were keen on purchasing calls in the November contract as shares of HPQ rally 1% to $30.95. The world’s largest personal-computer maker received an “outperform” rating by RBC Capital Markets due to the company’s, “diverse revenue portfolio, recurring book of business, stronger margin profile and solid management team,” according to one report released today. While most of the activity occurred in the November contract, one investor was seen banking profits on the sale of 3,000 calls at the in-the-money April 27.5 strike price for a premium of 4.00. Moving ahead 7 months, investors splurged on 2,000 November 32.5 calls for 4.40 apiece. Meanwhile, 5,500 calls were purchased at the 35 strike price for 3.40 at the same time that 6,500 calls were picked up for 2.50 at the 37.5 strike price. Finally, the most optimistic traders looked to the November 40 strike where some 2,400 calls were coveted for a premium of 1.80 per contract. Investors are clearly hoping for HPQ to…
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Zero Hedge

Thousands Of Women Report Period Problems Potentially Tied To COVID Jabs

Courtesy of ZeroHedge View original post here.

The UK's vaccine watchdog is "closely monitoring" claims that 4K+ women have suffered period problems after receiving the COVID-19 jab. While side effects like sore arms, lethargy, soreness and muscle aches are included in warnings about potential drawbacks of receiving the vaccine, there are no warnings about period-related complications.

Nowhere are period irregularities listed as a potential side effect of vaccination, so British regulators are trying to determine whether there is actually a link between the complaints and the vaccines.

O...



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Phil's Favorites

Momentum Monday....Inflation Shminflation

 

Momentum Monday….Inflation Shminflation

Courtesy of Howard Lindzon

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith.

Happy Monday.

Some great golf this weekend at Torrey Pines. Max and I spent the day there on Thursday and we had a blast. Last year I joined Silverleaf in Scottsdale which is the home course for John Rahm, Tony Finau and Max Homa. It has been a great year for all the golfers which no doubt the...



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Digital Currencies

Inside a ransomware attack: how dark webs of cybercriminals collaborate to pull one off

 

Inside a ransomware attack: how dark webs of cybercriminals collaborate to pull one off

BeeBright/Shutterstock

Courtesy of David S. Wall, University of Leeds

In their Carbis Bay communique, the G7 announced their intention to work together to tackle ransomware groups. Days later, US president Joe Biden met with Russia...



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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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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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