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Unusual Options Activity: Barrick Gold (GOLD)

Unusual Options Activity: Barrick Gold (GOLD)

December call buying indicates further rally in shares. Gold mining companies have been doing well this month, as gold prices have risen along with market fears. Traders continue to bet on the space moving higher, with a big trade on Wednesday in shares ofBarrick Gold (GOLD). Over 3,100 contracts on the December 2019 $23 calls on shares traded, a 16-fold increase in the prior open interest just under 200 contracts. With a current share price just over $18, the option is a bet on a 25 percent rise by the holidays. With a current share price just over $18, the option is a bet on a 25 perce...
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Insider Activity: Conduent (CNDT)

Insider Activity: Conduent (CNDT)

Owner Carl Icahn makes $30 million buy.On Tuesday, August 13th, billionaire investor Carl Icahn bought 4,572,521 more shares of a company he already owns more than 10 percent of,Conduent (CNDT). The stake, costing just under $30 million, increased the size of his holdings by about 14 percent to over 36.2 million shares. Icahn has previously bought shares in May, when he picked up over 6 million shares in three separate purchases. One director has bought this year, and no insiders have sold in over one year, when shares traded over 60 percent higher than today. Conduent provides busine...
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Unusual Options Activity: Kraft-Heinz (KHC)

Unusual Options Activity: Kraft-Heinz (KHC)

September calls bet on a rebound in shares.It’s been a tough year forKraft-Heinz (KHC). But at least one trader is betting that the company’s post-earnings drop will see a bounce within the coming weeks. On Tuesday, over 12,600 contracts traded on a September $27.50 call option, a nine-fold surge in volume. With 37 days to go, it’s a bet that shares will rally about $1.20 from their current price of about $26.30, or about 4.6 percent. Kraft-Heinz, the branded food giant, has written off over $16 billion in value year to date, mostly reflecting that it overpaid to merge the two companies ...
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Insider Activity: General Electric (GE)

Insider Activity: General Electric (GE)

CEO, Director pick up over $3.5 million in shares. On Monday, August 12th, CEO Lawrence Culp ofGeneral Electric (GE) picked up over 331,680 shares, paying just under $3 million to increase his stake in the company by 54 percent. On the same day, director Thomas Horton picked up over 55,200 shares, paying nearly $500,000. These buys come after the company reported solid earnings, but warned that its commitments to Boeing created some risk as the 737 Max jets remain grounded. General Electric is an industrial conglomerate, with operations related to power such as turbines, both renewabl...
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Insider Activity: United Insurance Holdings Corp (UIHC)

Insider Activity: United Insurance Holdings Corp (UIHC)

Chief Claims Officer makes $50,000 buy.On Friday, August 9th, Scott St. John, Chief Claims Officer atUnited Insurance Holdings Corp (UIHC), picked up 4,258 shares of the company, a price that came out to just over $50,000. The buy more than doubled his holdings in the company to 7,712 shares. Insiders at the company have been buyers throughout August so far, including buys from three directors and the CEO. The last insider sale occurred back in March, when shares traded 25 percent higher. United Insurance Holdings Corp is a property and casualty insurance providing services for residenti...
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Unusual Options Activity: Pretium Resources (PVG)

Unusual Options Activity: Pretium Resources (PVG)

Long-dated, out-of-money calls suggest massive move. Amid options trading on unusual activity on Monday, the $20 January 2021 call options onPretium Resources (PVG) stood out. With shares around $13.30, the company’s shares would need to rally 50 percent before the option moved in-the-money. With 550 trading days before expiration, and with shares already up 50 percent in the past year, the trade could certainly play out handsomely for traders. Over 4,300 contracts of this option traded Monday, against a prior open interest of 275, making for a 16-fold surge in volume. Pretium acqu...
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Insider Activity: JPMorgan Chase (JPM)

Insider Activity: JPMorgan Chase (JPM)

Director makes $2 million buy.On Thursday, August 8th, Mellody Hobson, a director atJPMorgan Chase (JPM), bought 18,200 shares, increasing her stake to just over 101,300 shares. The total cost of this latest buy came in at just over $2 million. Hobson has been a repeat buyer of shares this year, buying 19,700 shares back in April. Many insiders at the big bank have been sellers of shares this year, although at higher prices than where shares currently trade. JPMorgan Chase is a global financial powerhouse, with traditional banking, commercial and investment banking, wealth management, an...
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Unusual Options Activity: General Electric (GE)

Unusual Options Activity: General Electric (GE)

Surge of in-the-money call buying.The highest-volume option trade on Friday occurred in an unusual trade based on shares ofGeneral Electric (GE). The January 2020 $6 call options saw a surge in volume. With shares over $9, these options are about 50 percent in-the-money. If GE shares rally, the option should move higher penny-for-penny. If shares drop, they could still have some value at expiration. With the number of unusual options usually focusing on short-term or near-the-money trades, this one stands out as a potential way to play a multi-month rally in shares between now and Januar...
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Insider Activity: Encana (ECA)

Insider Activity: Encana (ECA)

CEO, Directors, continue to pick up shares. On Wednesday, August 7th,Encana (ECA) CEO Douglas Suttles picked up another 6,000 shares of the oil and gas exploration company. The $24,000 he spent raised his total stake to over 200,000 shares. This isn’t his first buy this month. He also bought 10,000 shares on August 6th, paying nearly $42,000 as well. And he isn’t alone, as multiple directors have been buyers since the start of the month. Director Fred Fowler picked up 25,000 shares—paying about $100,000—on August 7th. And Director Howard Mayson picked up 5,000 shares on August fist, p...
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Unusual Options Activity: Apple (AAPL)

Unusual Options Activity: Apple (AAPL)

Bet on shares collapsing by late October.Shares ofApple (AAPL) could fall by nearly 50 percent in the next 70 days—at least, if the surge in October $105 put options on Thursday is any indication. With shares around $202, the $105 strike price is essentially a bet that shares will drop in half. With over 2,800 of these contracts trading against an open interest of 190, that’s a 15-fold surge in volume on this deeply bearish trade. These options cost the buyer $0.02, or $2 per contract. So it’s likely that it won’t be held until the option’s expiration. But on a big down day for markets, ...
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