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 likeJPMorgan Chase (JPM),Citigroup (C) andBank 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 interest rates could increase their profitability, even ...

Bet in 50 percent drop in shares by October.On Friday before the long weekend, over 14,400 contracts traded on the October $10 put options onAmarin Corporation (AMRN). With a prior open interest of just 123 contracts, the trade saw a surge in volume over 116-fold! With a current share price around $15 per share, the $10 strike price is a bet on shares dropping by at least as much as one-third in the next 45 days. Amarin is a pharmaceutical company that engages in the development of therapeutics for the treatment of cardiovascular diseases.Action to take: The bet against shares in such a ...

CEO, CIO, CFO, and head of manufacturing, pick up shares. On Thursday, August 29th, Michael McClaflin, CIO atFlexsteel Industries (FLXS)picked up 2,350 shares. The total price came to just under $32,000, and represents his first purchase of shares at the company. He was joined by Carl Hayden, vice president of manufacturing, who bought 2,000 shares, also starting a stake at the company and paying $27,000 to do so. CFO Marcus Hamilton also joined in, buying 2,300 shares and increasing his stake by 26 percent. Last but not least, CEO Jerald Dittmer bought 5,000 shares, at a cost just un...

Senior Vice President makes six-figure buy.On Thursday, August 29th, Geoff Tanner bought 1,000 shares ofJM Smucker Company (SJM), where he serves as a senior vice president. By picking up shares around $103, his total cost to pick up those shares was $103,000. The buy increases his stake by 17 percent, leaving him with just under 14,400 shares. This is the first insider buy at the company this year, following some insider sales at higher prices in the past few months. The JM Smucker Company is a consumer brands giant, known for preserves, peanut butter under the Jif brand, Folgers coffee...

CEO & 10% owner adds to stake. On Wednesday, August 28th, Joseph Jolson picked up 6,394 shares ofHarvest Capital Credit Corp (HCAP), where he serves as director and already has an ownership stake with more than 10 percent of the shares outstanding. The purchase came to nearly $63,000, and increased his stake in the company by 0.85 percent. Year-to-date, insiders have been buyers of shares at the company, almost exclusively by Jolson, but there has also been one buy from the company’s CEO. The last insider sales occurred in November 2018, at a price 10 percent higher than where sha...

Traders bet on rally by March.On Thursday, over 5,000 contracts traded on March 2020 $50 call options onMetLife (MET). With a prior open interest of 224 contracts, the volume was 22 times the prior open interest, making for one of the most active options trades of the day. With shares around $44, the bet is on a $6 upside by March, about 13.4 percent higher from here, in the next 203 days before expiration. MetLife provides insurance, annuities, employee benefits, and runs an asset management business for individuals and companies around the world.Action to take: Insurance companies tend...

Traders bet on further drop in shares by February.On Wednesday, over 15,000 contracts traded on February 2020 $8 put options onFreeport McMoRan (FCX), one of the world’s leading copper giants. With an open interest of around 1,000 contracts prior to the trade, the volume in the option has surged 15-fold. Shares of the copper mining company currently trade around $8.80, making the $8 strike price on the put option a bet on the share price dropping at least 10 percent from here. Although best known for copper, Freeport also explores for gold, silver, molybdenum, and even oil and gas around...

Director $116,000 buy at regional bank.On Tuesday, August 27th, director Scott Toothaker picked up 5,371 shares ofBar Harbor Bankshares (BHB). The buy increased his stake by 22 percent, to just over 29,500 shares. The purchase totaled just over $116,000. Insiders at the bank have been buyers year-to-date, with many purchases occurring at prices as much as 18 percent higher than where shares currently trade. The last insider sale occurred in 2018, but has been far lower than the total insider buys year-to-date. Bar Harbor Bankshares operates as a regional bank with over 48 locations in Ma...

Surge in 2021 call buying.On Friday, over 1,980 contracts traded on a January 2021 $15 call option onNektar Therapeutics (NKTR). With a prior open interest of 156 contracts, this represents a 16-fold surge in volume. With shares of the company currently trading around $17, the option buyer is about $2 in-the-money per $6.60 contract. As such, the option should move dollar-for-dollar higher with shares. Nektar Therapeutics develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company has collaboration agreements with many larger pharmaceutica...

CFO and director buy shares.On Thursday, August 22nd, Keith Koci, CFO ofCleveland-Cliffs Inc. (CLF)picked up 12,500 shares of the company, paying just over $101,000 to do so. This buy increased his total stake in shares by 17 percent. He was joined by director John Baldwin, who bought 7,000 shares, a $58,000 buy. That increased the director’s stake by 6.5 percent. Insiders have bought earlier in the month as well, and have been net buyers with no sales since May. Insiders have often paid prices as much as 17 percent higher than where shares currently trade. Cleveland-Cliffs is an iron...