5 Names Seeing Bullish Options Flow

We saw a major spike in Charles Schwab (SCHW) April $18 strike calls on Wednesday as a buyer paid $0.35 for 10,000 contracts to open a new position struck 2.2% above current spot price. Shares touched a new 52-week high of $17.64 just a few minutes later, and the trade created the second largest block of call OI in the stock. Interestingly this buying comes on the heels of the large upside call buying noted in TD Ameritrade (AMTD) yesterday and last week.

High-end retailer Saks (SKS) saw heavy opening call buying yesterday- possibly a play to some of the retail sales data that came out this morning, but the use of longer dated contracts suggest a view into the summer. Buyer paid $0.70 to $0.75 for a total of 10,000 August $12 calls to open a new position struck 5.7% out of the money and just above the 52-week high of $11.97.

Shares of Mortgage insurance company, MBIA (MBI) (and also peers (GNW), (RDN)), have had a busy week with a jump in share prices and bullish flow in the options. MBI Saw buyers of March $15 calls and implied volatility spiked nearly 8 points to 78%.

Green Mountain Coffee Roasters (GMCR) has provided much excitement in recent year as their K-cup patent saga and share ware with Starbucks (SBUX) has played out. Shares bottomed off a $17.50 level last summer and have had a strong rally to the $50 range in just a few months. Option flow on Wednesday moderate and calls outnumbered puts more than 2:1 with buyers of April 55calls leading the action.

In ONEOK (OKE), we saw one large institutional player said Okey Dokey (sorry) to a large upside position in this thinly traded natural gas name on Wednesday, setting a size record and increasing open interest by a factor of 5.

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OKE Option Dashboard
Source: Trade Alert


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At the time of publishing, Henry Schwartz held no securities or issues mentioned.