Henry Schwartz: 5 Names Seeing Bullish Flow
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Xerox (XRX) volume is heavy Thursday morning, with early flow including an April call buyer with shares near $6.50. A bit later a block of 5,000 April 6 puts traded for $0.40 tied to shares and looks like it may be a sale. Earnings on Tuesday took about 5% off share price so today's flow may be looking for shares to regain that lost ground.
General Motors (GM) adds $0.52 to $24.20 and one player seems to be looking for the stock to roll higher through the first quarter 2013, as 15,000 Mar 26 calls are bought on the auto-maker for $1.20 per contract. 15,600 now traded against 807 in open interest. Nov 23 and 25 calls on GM are seeing interest as well. 20,000 calls and 625 puts now traded in GM in the first 15 minutes. The company is due to release earnings on October 31. Rival Ford (F) reports the day before.
Coeur d Alene Mines (CDE) 6% out-of-the-money Dec 32 calls caught a bid this morning, with more than 1,700 contracts trading at an avg price of $1.30 around 10am when shares were near $30.02.
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