lavapit315
47 posts
msg #140353
- Ignore lavapit315 |
12/23/2017 4:02:26 PM
15minofPham
Ahhh, that makes sense. Thanks for your response
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15minofPham
170 posts
msg #140406
- Ignore 15minofPham |
12/26/2017 7:24:48 PM
Big Option Play Of The Day - FCX
FCX has been on a tear since it broke out of its range on December 12. Weekly chart show entire candle above the Mendoza Line for the first time since 10/29/12. Monthly show almost into the cloud for the first time since October 2014. Needless to say, bulls have been pent up for 5 years!
I've been waiting for a pullback but there hasn't been one! Two big million dollar buys occur today even though it was up another 3.15% pushing its daily RSI to the thin air of 84.47. First was for $1 million when 14,503 of the 1/19/18 19 Calls bought at .69. Second was for $1.3 million when 15,592 of the 3/16/18 20 Calls bought for .85. Break even for the first buy is $19.69 and second is $20.85. The Calls volume for the March expiration today was $34.5K, massive for FCX.
I'm in as soon as its within spittin' distance of the daily 8 EMA. At this point, I might be waiting for a long time!!!
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johnpaulca
12,036 posts
msg #140407
- Ignore johnpaulca |
12/26/2017 8:57:24 PM
FCX...good undervalued company. I posted sometime ago. You may also want to look at CLF, TECK
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15minofPham
170 posts
msg #140421
- Ignore 15minofPham |
12/26/2017 11:12:02 PM
Thanks JP! I like Teck. Monthly showing breaking out. CLF is lagging behind so it's trying to catch up. Please feel free to keep suggesting high option volume momentum stocks.
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lavapit315
47 posts
msg #140422
- Ignore lavapit315 |
12/27/2017 4:21:01 AM
@15minofPham
Can you explain "StoppedIM: Transaction was the execution of an order which was 'Stopped' at a price that did not constitute a Trade-Through on another market"
I was under the assumption that these were stop orders that were filled and not buys.
I really appreciate you taking the time to answer my stupid questions. :-)
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mahkoh
1,065 posts
msg #140434
- Ignore mahkoh |
12/27/2017 4:21:40 PM
Massive 82.000 contracts for UNP March 130 calls, representing $ 73 million. The trade was at the midpoint, but with the spread at 8.65 - 9.10 and the trade at 8.90 I would lean towards the calls being bought. Furthermore there were 11.000 calls traded ($ 21 million) half an hour later for the Jun 15 120 calls which had an open interest of 1.000 contracts, so these must have been a buy order.
My first thought when I saw these numbers was that the stock was probably going ex-div, but that is not until February.
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15minofPham
170 posts
msg #140448
- Ignore 15minofPham |
12/28/2017 12:12:09 AM
@lavapit315
Market Chameleon gets the definitions from Options Pricing Reporting Authority (OPRA). According to them, StoppedIM is, "Transaction is the execution of a sale at a price agreed upon by the floor personnel involved, where a condition of the trade is that it reported following a non-stopped trade of the same series at the same price."
I know this is not a Spread trade since I've never seen the same amount of shares next to a StoppedIM trade so I always use it like a Sweep trade. Contacting them at www.opradata.com might get you a clearer explanation.
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15minofPham
170 posts
msg #140449
- Ignore 15minofPham |
12/28/2017 12:25:39 AM
Big Option Trade Of The Day - UNP
I'm going to piggy back on mahkoh's post. This is the biggest trade I've ever seen since tracking big option volume. A buy of $73.3 million consisting of 82,432 of the 3/16/18 130 Calls for $8.90 crossed the tape a little after an hour after the market opened. To prove it's not a fluke, a nearly $22 million trade consisting of 11,288 of the 6/15/18 120 Calls at $19.40 happened 45 minutes later. This is $95 million in premium on a stock that broke out of its multi-monthly range in September.
Earnings for UNP is 1/25 so I'm thinking the first trade is an earnings trade. Break even is $138.90 on the initial and $139.40 on the latter. Even though it has had a nice run since September, today's total Calls volume was 96%. A reminder that I pay utmost attention to any above 90%. We'll have to monitor Open Interest to see if the investor sells before earnings. If not, and it gaps up, then they'll have a nice train ride to the bank! Choo!!! Choo!!!
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mahkoh
1,065 posts
msg #140465
- Ignore mahkoh
modified |
12/28/2017 3:31:51 PM
MAR 11.000 April 135 calls bought today, 8.3 million dollar trade. Stock at 136.04
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15minofPham
170 posts
msg #140469
- Ignore 15minofPham |
12/28/2017 10:42:23 PM
Big Option Volume Trade of the Day - MAR
I would appreciate it mahkoh if you would stop stealing my thunder! Ha! In a week that's supposed to be cricket quiet, big option volume have been bigger than ever. For a second consecutive day, an investor loaded up on MAR when they spent $8.3 million on 11,167 of the 4/20/18 135 Calls for $7.50. Break even is $142.50 but earnings is on 2/15 so who knows if they'll hang on for it.
If they decide to sell beforehand, MAR needs to gain 4.34% to achieve the break even point. This should be very doable as it's been averaging 5.42% per month on its 4 months winning streak. But if the market decides it's time for a correction, then this would mar this massive bet!
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