As the market holds near all-time highs and many observers wonder if the recent 22% climb (
SPDR S&P 500 ETF
(SPY) from 136 to 166 in five months!) is bubblicious or not, we continue to see plenty of aggressive option positions opened that indicate a long view.
Regions Financial (RF) closed at $9.14, multi-year highs, and options on the bank were busy on Wednesday with nearly 14,000 calls and 2,500 puts trading and front-month May 9 calls most active. Jun 9, Jan 10 and May 8 calls are also seeing interest and 30-day implied volatility is up 14% to 22. No news on the stock to explain the heightened activity. Earnings were reported on April 23.
Waste Management (WM) was another name seeing upside interest as shares closed at $41.98, new decade highs, and we saw 4,100 of Oct 42 calls bought for $1.30 per contract. 8,126 total traded vs prior open interest of 826. Bullish flow comes despite news Jana Partners has liquidated its stake in the company, according to a 13F filing out Wednesday.
ZIOPHARM Oncology (ZIOP), a New York-based biotech that fell from the $5 handle last year to the $1 range appears to be picking up some interest in a recovery. An opening customer paid $0.225 for 5,000 October 3 calls to open a new position.
TiVo (TIVO) has seen a few days of bullish flow in the form of upside ratio call spreads. Jun 13 - 15 (1X2) call ratio spread was bought on the stock for $0.25, 3,000X. Looks like a repeat of Friday, when the same ratio spread was opened for $0.12, 8,000X. Also saw the May - Jun 14 call spread for $0.65, 4,500X, opening on both legs in front of earnings, due out after market on May 20.
Select the service that is right for you!COMPARE ALL SERVICES
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV