Bullish Call Activity:
* AMCC Aug 12.5 calls are seeing interest with the underlying stock lower by 5% (volume: 3030, open int: 190, implied vol: ~59%, prev day implied vol: 55%) -- co reported earnings last week. * LF Jun 7.5 calls (volume: 3270, open int: 950, implied vol: ~44%, prev day implied vol: 40%) -- co is confirmed to report earnings Feb 12 after the close (peer MAT reports tomorrow before the open).
Notable Call Activity following M&A speculation:
* GPS calls are outpacing puts by ~3x (15.8K total calls have traded vs 4.6K total puts) with the underlying stock +3.5% following renewed activist speculation. Most notable is seen in the GPS Jan31 37.5 calls (volume: 4680, open int: 330, implied vol: ~33%, prev day implied vol: 30%)
Bearish Put Activity:
* CBL Mar 15 puts are seeing interest ahead of earnings next week Feb 4 after the close (volume: 5130, open int: 10, implied vol: ~44%, prev day implied vol: 35%) -- two transactions of ~1880 contracts traded at or near the offer. * NWL Feb 30 puts activity is picking up again for the second consecutive day ahead of earnings tomorrow Jan 31 before the open (volume: 3360, open int: 1610, implied vol: ~34%, prev day implied vol: 28%) -- NWL was initiated (along with several peers) with Buy rating at BTIG. * FOXA Feb 32 puts are seeing interest with strength in the underlying stock (along with other broadcasting peers following peer BSYBY earnings) and ahead of earnings next week Feb 6 before the open (volume: 5410, open int: 5070, implied vol: ~27%, prev day implied vol: 26%) -- nearly 4K traded in single transaction on the offer.
Sentiment: The CBOE Put/Call ratio is currently: 0.78... VIX: (16.07 -1.28, -7.4%). February 21 is options expiration -- the last day to trade February equity options