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Unusual Options Activity: Tesla Motors (TSLA)

Unusual Options Activity: Tesla Motors (TSLA)

Big bet that automaker's shares will decline this month. At least one trader is betting on a modest decline inTesla Motors (TSLA) between now and the end of the month. On Tuesday, over 7,500 contracts traded on a June 28th, 2019 $210 put option for Tesla. With a prior open interest of 286, this represents a twenty-six-fold surge in volume. Shares currently trade around $217, implying a downside of $7, or about three percent, for these put options to move in-the-money before expiration. This large bet is occurring as the company has its annual meeting. Shares of Tesla are excepti...
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Insider Activity: Occidental Petroleum (OXY)

Insider Activity: Occidental Petroleum (OXY)

Two insiders make a multi-million dollar buy in the oil giant. Two corporate insiders have just bought in over $2 million in shares ofOccidental Petroleum (OXY). On June 10, CEO Vicki Hollub bought 37,460 shares, a commitment of over $1.8 million. SVP Marcia Backus bought 10,000 shares, putting down over $480,000. The buys come after shares have slid from $54 in the past month to $47 in recent days. Oil prices have been weak, particularly for this time of year when the summer driving season boosts demand for gasoline. As a result of this seasonal aberration, energy stocks have b...
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Insider Activity: MGM Resorts International (MGM)

Insider Activity: MGM Resorts International (MGM)

Hedge fund titan makes huge bet on the casino operator. One director just made a $75 million bet on the future of gambling. On June 7, director Keith Meister bought 2.8 million shares ofMGM Resorts International (MGM). Meister, an activist hedge fund manager at Corvex Management, already owns over 18 million shares. The casino company saw shares rise last week along with the overall market, but around $27 per share, shares are still below their 52-week high of $32. Casino stocks are somewhat cyclical, tending to expand with the economy. They tend to contract during recessions, ...
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Unusual Options Activity: Advanced Micro Devices (AMD)

Unusual Options Activity: Advanced Micro Devices (AMD)

Trader bets on 50 percent decline in shares over the next year. At least one trader is betting on a massive decline inAdvanced Micro Devices (AMD) between now and June 2020. On Monday, over 7,000 contracts traded on a June 2020 $15 put option for AMD. With a prior open interest of 466, this represents a fifteen-fold surge in volume. Shares currently trade around $34, implying a downside of over 50 percent for these put options to move in-the-money in the next 375 days.   Advanced Micro Devices is a quintessential Silicon Valley company. Operating in computing and graphics proc...
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Unusual Options Activity: Altice USA (ATUS)

Unusual Options Activity: Altice USA (ATUS)

Cable and internet provider shares see a surge in call option buying. At least one trader is betting on a big rally inAltice USA (ATUS) between now and September. On Friday, over 2,500 contracts traded on a September $26 call option for the company. With a prior open interest of 120, this represents a massive surge in volume. Shares currently trade around $24.50, implying at least $1.50 in upside over the summer. Based out of Long Island, Altice operates broadband and video communication services in the United States under the brands Cablevision and Cequel. It has approximately 4....
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Insider Activity: Encana (ECA)

Insider Activity: Encana (ECA)

One director buys over $250,000 in shares.One director is betting that shares of oil and natural gas production companyEncana (ECA) have gotten oversold. Last week, director Bruce Waterman picked up 50,000 shares of the company for just over $5.00 per share, shelling out over $253,000. The purchase increased his stake in shares by 25 percent. Shares of the company have been declining in recent weeks, in line with falling oil prices. Shares of Encana have been more out of favor than other energy stocks lately due to its acquisition of Newfield Exploration earlier in the year. Large ...
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Insider Activity: Conn’s (CONN)

Insider Activity: Conn’s (CONN)

Multiple directors buy at the regional retail firm. Three different directors have been buying shares recently in regional retail outletConn’s (CONN). Director James Haworth picked up 2,240 shares, shelling out nearly $40,000 to do so. Director Bob Martin picked up 26,600 shares, for a commitment of over $453,000. And director William Saunders bought 10,000 shares even, paying nearly $180,000. This kind of cluster of buys by directors is a solid sign. With only 125 locations in the South and Western United States, Conn’s operates as a specialty retailer of consumer goods and se...
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Unusual Options Activity: Freeport McMoRan (FCX)

Unusual Options Activity: Freeport McMoRan (FCX)

Big bet that copper mining giant will move at least 10 percent higher by early July. At least one trader is betting on a 10 percent pop inFreeport McMoRan (FCX) in the next month. On Thursday, nearly 5,900 contracts traded on July 5th $11 calls. With shares just over $10, they would need to rally nearly $1, or about 10 percent, for these calls to expire in-the-money. With a prior open interest of 102 in the contract before the trade, this is a big move. As a copper producer, Freeport is best-in-class. However, copper prices have been weak year-to-date, amidst trade war fears. ...
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Insider Activity: American Airlines (AAL)

Insider Activity: American Airlines (AAL)

Half a dozen insiders get bullish on American Airlines this week. Six different insiders bought near the recent market bottom forAmerican Airlines (AAL). From the Chairman and CEO, to the company President to several Executive Vice Presidents, over $2.4 million in shares were bought by insiders on Tuesday, just before shares started rallying. The largest buy came from CEO Douglas Parker, who bought 50,000 shares, spending over $1.4 million alone. Based on the price he paid per share, he fared the worst among insiders so far. This type of cluster of insider buying is far more bu...
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Unusual Options Activity: Target (TGT)

Unusual Options Activity: Target (TGT)

Traders make a big bet on Target shares rallying into the fall. At least one trader is betting on a big rally in retailerTarget (TGT). On Wednesday, a large number of contracts traded on a September $95 call option. With shares trading around $86, this represents a bet that shares will move up at least 10 percent over the summer. The option contract had over 10,000 trades, against an open interest of 104. While brick and mortar retailers have fallen in and out of favor with the market over the past few years, Target has done well expanding its e-commerce footprint to compete wi...
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