Unusual Options Activity: Chesapeake Energy (CHK)

Big bet on natural gas producer during summer slump. Shares of Chesapeake Energy (CHK) could move up to 34 percent higher between now and November. That’s based on a surge in volume on the November $2.50 calls, and a current price around $1.86. On Tuesday, over 160,000 of these options traded, a 58-fold surge in volume. That’s a relatively quick amount of time for such a move, but it’s not unheard of in the commodity space. Plus, by November, a colder-than-expected winter could move ...
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Insider Activity: Pitney Bowes (PBI)

Insiders have never sold shares in the past three years. While names related to transportation and trade haven’t looked attractive in the midst of slowing global trade and tariff fears, insiders see an opportunity in Pitney Bowes (PBI). On June 30th, Executive Vice President Jason Dies bought 1,500 shares, increasing his stake in the company by 25 percent. Insiders have been net buyers, with no insider sales at the company, for nearly three years. Pitney Bowes provides mail and shipping fulfillment products and ...
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Unusual Options Activity: Bank of America (BAC)

Traders betting on rally after Fed approves capital plans. Shares of Bank of America (BAC) could move up to 23 percent higher between now and February. That’s based on a surge in volume on the February 21st 2020 $36 calls. Over 1,400 contracts traded on Monday, about a 12-fold increase in the existing open interest on the bank. Shares are currently around $29.50, so this out-of-the-money trade needs the big percentage move to lock in a profit by the expiration in February. Last week, ...
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Insider Activity: Beacon Roofing Supply (BECN)

Major fund holder adds 4.6 million shares. CD&R Investment Associates, already a 10 percent owner, has been adding to its stake in Beacon Roofing Supply (BECN). Typically, when large investment funds increase their stake, it’s because they see the same value as other insiders. However, funds can also acquire board seats and otherwise push a company to make changes it might not otherwise—to the benefit of shareholders. On June 28th, the fund bought 4.6 million shares, a $158 million commitment. That increased its ...
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Insider Activity: Altus Midstream Company (ALTM)

Company CEO makes third buy in the past five weeks. Insiders continue to be buyers in the energy sector, even after oil prices have started moving higher. The latest example? Natural gas pipeline company Altus Midstream Company (ALTM). On Thursday, CEO Clay Bretches picked up 15,000 shares of the company, paying nearly $55,000. It also increased his total stake by over 37 percent, a huge additional buy in. This follows up on buys of 20,000 shares on June 14th, and 20,000 shares back ...
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Unusual Options Activity: AbbVie (ABBV)

Big trade bets shares will rally in July. Shares of AbbVie (ABBV) dropped nearly 15 percent on news that it was planning to acquire Botox maker Allergan. One trader is betting that the move was overdone. On Friday, over 3,200 contracts traded on the August 2, 2019 $80 call option. With 35 days left to expire and AbbVie prices just under $72, the option is a bet on an 11 percent rally in shares in the month of July. That kind of percentage ...
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Unusual Options Activity: Altria (MO)

Trader bets on more downside for tobacco giant. Tobacco companies have had a rough year, amidst long-term sales declines and a decision to pass on major investments in the growing cannabis industry. One trader sees some more downside, with a large put option trade on Altria (MO). On Thursday, over 9,500 contracts of the July 12th $49 put options traded, a 57-fold increase in volume on the option. This option, with shares at $48, is already in-the-money. So while it expires in 15 ...
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Insider Activity: Biohaven Pharmaceutical Holding Company (BHVN)

Two insiders buy over $600,000 in shares. Insiders still remain incredibly bullish across the biotech and pharmaceutical space. On Wednesday, two insiders bought shares at Biohaven Pharmaceutical Holding Company (BHVN). CEO Vlad Coric bought 5,000 shares, shelling out just over $201,000. And director John Childs bought 10,000 shares, paying just over $403,000. This marks the first insider buys at the company in over two years, following insider sales last year in the $50-60 range. With shares in the low $40’s, the insider buys look ...
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