Insider Activity: Cleveland-Cliffs (CLF)

Multiple insider buys over past few weeks. Multiple insiders have been buying shares of Cleveland-Cliffs (CLF) in the past few weeks. Directors John Baldwin, Eric Rychel, Ann Harlan and Robert Fisher have been buyers, as well as CFO Keith Koci. Overall, since the start of August, insiders have picked up over 60,000 shares, paying close to $8 per share on average, with the total coming out to over half a million dollars in insider buys. With the company’s share price around $7.50, ...
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Unusual Options Activity: Home Depot (HD)

Volume soars on late September calls. The September 20th $245 call options on Home Depot (HD) saw nearly 8,900 contracts trade against an open interest of 123. That’s a 72-fold surge in volume that the company’s shares, trading around $230, can rise another $15 in the next 11 days. With a cost of just $0.14, or $14 per contract, any move higher could move the option higher on a percentage basis. Given the 52-week range of shares, another 6.5 percent rally in ...
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Unusual Options Activity: Advanced Micro Devices (AMD)

Put option buying bets on decline. The October 4th $26 put options on Advanced Micro Devices (AMD) saw over 10,400 contracts trading—a 41-fold increase over the prior open interest of 250 contracts. With 28 days left to go and with shares around $32, the bet is that shares will decline nearly 19 percent. At just $0.15 for the option, or $15 for the full contract, the trade may simply be a hedge following the strong rally this week on the announcement ...
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Insider Activity: Coty Inc (COTY)

Directors make multi-million dollar buy. Multiple insiders are making a buy at cosmetic company Coty (COTY). On September 4th, director Robert Singer bought 35,000 shares, a $325,000 purchase that increased his stake in the firm by nearly 15 percent. And director Peter Harf bought just over 1,050,000 shares, shelling out $9.98 million to do so, increasing his stake by 10 percent. Data for the past three years indicate that insiders have been buyers in that time, with their volume spiking this year. Coty ...
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Unusual Options Activity: Netflix (NFLX)

Shares to head higher through October. Over 10,500 contracts traded on the October $285 call option on Netflix (NFLX), a 76-fold increase in volume given the contract’s prior open interest of 140. With 43 days to go before expiration, the option is a bet that shares will trend higher. Netflix shares trade around $288, putting these $285 calls $3 in-the-money. Any change in Netflix shares from here should cause the option to move dollar-for-dollar, less the decline of the remaining time ...
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Insider Activity: 8×8 (EGHT)

CEO adds over 3,000 shares. Vikram Verma picked up over 3,000 shares of 8x8 (EGHT), where he serves as CEO. The buy cost just over $73,000 and leaves the CEO with just over 889,000 shares of the company. This marks his second buy this year, following a 4,200 share purchase in August. Insiders have a mixed track record at the company, with these CEO buys being offset by sales by the Chief Product officer year-to-date. 8x8 is a cloud communications company offering ...
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Insider Activity: FGL Holdings (FG)

Major hedge fund owner adds to stake of life insurer. Hedge fund Blackstone Group, already a 10 percent owner, has added to FGL Holdings (FG) with a 167,000 share buy. With a cost of $1.3 million, it increases the fund’s share count in FGL to just over 45 million shares. This is the second recent buy from Blackstone of FGL shares in the past week, with the second buy coming in at just under 290,000 shares at a cost of $2.3 million. Founded ...
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Wolfe Research Upgrades Big Banks

Trading revenue likely to rise in coming quarters. Although big banks have struggled as fears of lower interest rates indicate a slower economy and slower lending activity, some analysts are seeing potential upside ahead. In a research note, Wolfe Research upgraded big banks like JPMorgan Chase (JPM), Citigroup (C) and Bank of America (BAC), citing the likelihood to surprise investors with higher trading revenue in the coming quarters, “if activity levels hold steady.” Additionally, lower funding costs for banks from the decline in ...
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