5 Names Seeing Bullish Flow

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Cypress Semiconductor (CY): Early call buying in CY on Thursday has call volume over 5000 contracts which is well above the average full-day volume of 850 contracts. In the money March 10 calls are the focus, with a buyer paying $1.375 for 4600 on the PHLX when shares were at $10.95.

Allscripts Healthcare Solutions (MDRX): Nearly 20,000 calls on MDRX have traded in the first 30 minutes of the day, with a customer paying $0.10 to roll 10,000 December 11 calls out to March 13s on NYSE-Arca, showing a commitment to a longer-term bullish bet into the spring.

United Continental Holdings (UAL): Shares are up 5% near $22.51 and seeing action in the March 23 calls as well as the Jun 25 calls. Thirty day at the money IV of 37% is near the low end of this year's range and airline shares have been gaining altitude in recent days, boosted by Monday's announcement of a deal between Delta Air Lines (DAL) and Virgin Atlantic.

UAL Options Dashboard
Source: Trade Alert


Hewlett Packard (HPQ): The December 15 calls are very active today, with nearly 24000 contracts trading in the $0.19 range and much of the flow marked an opening buyer, despite the 17,000 of open interest at the strike. HPQ shares have been on a steady climb from post-earnings lows near $11.70 on November 20th.

HPQ Daily Contract Volume
Source: Trade Alert

J.C. Penney (JCP): It is not clear if it's Christmas shoppers or some other catalyst, but JCP shares are up 3.6% and call volume in the retailer is very strong. There were 16,000 contracts trading in the first hour, three times the normal volume. January 20 and December 21s lead the most actives, while the December 20 straddle is also busy, and trading near 4% of the share price, despite only having nine days left to trade it.

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At the time of publication, Henry Schwartz held no positions in the stocks or issues mentioned.

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