Unusual Option Activity for Nov-06-2020 CGC, GLUU, NET, PLTR

Daily Synopsis -

  • The S&P 500 -0.02% today while the NASDaq had a small gain of (+0.08%). The Russell 2000 closed lower by (-0.78%). The Dow ended in negative territory at (-0.24%)
  • The best performing sector was Consumer Staples(+0.46%) while Energy(-2.16%)was the worst performer.
  • The financials sector (-0.8%) also showed relative weakness, while the defensive-oriented consumer staples (+0.4%), information technology (+0.3%), and health care (+0.2%) sectors posted modest gains.
  • Beneath the index and sector levels was a more interesting story with lots of earnings movers. To name a few, T-Mobile US (TMUS 123.56, +6.30, +5.4%), CVS Health (CVS 64.95, +3.54, +5.8%), Uber (UBER 44.87, +2.91, +6.9%), and Square (SQ 198.08, +22.85, +13.0%) stood out with impressive gains, while Electronic Arts (EA 119.19, -9.14, -7.1%) disappointed.
  • Separately, the presidential election remained undecided but former Vice President Biden continued to lead President Trump 253-214 in the electoral count, according to most news outlets. A winner could be announced this weekend.
  • In the Treasury market, longer-dated maturities succumbed to renewed selling interest following the release of the employment report. The 2-yr yield increased one basis point to 0.16%, and the 10-yr yield increased four basis points to 0.82%. The U.S. Dollar Index decreased 0.3% to 92.26.

Index Summary -

S&P 500 : (-0.02%); NasDaq : (+0.08%);
Russell 2000 :(-0.78%); Dow :(-0.24%);
Vix :27.58 (-9.86%); [-34.61%]; {-23.41%}

Sector Summary -

Three highest sectors for today were –
Consumer Staples: (+0.46%); Information Technology: (+0.36%); Materials: (+0.25%)
Three lowest sectors for today were –
Energy: (-2.16%); Financials: (-0.8%); Real Estate: (-0.39%)

Commodities/Futures -

(1-day %), [5-day %], {10-day %}

Currency –
USD Index :92.516 (-0.22%); [-1.94%]; {-0.66%}
BC :15260 (+2.75%); [+13.71%]; {+14.58%}

Precious Metals –
Gold :1946.8 (+0.32%); [+3.32%]; {+2.32%}
Silver :25.191 (+2.14%); [+7.16%]; {+4.89%}

Farming –
Soybeans :1103.75 (-0.02%); [+5.02%]; {+1.96%}
Corn :409.25 (-0.79%); [+2.14%]; {-2.4%}
Coffee :108.45 (+1.2%); [+6.76%]; {+2.62%}

Industrials –
Crude :38.79 (-3.56%); [+1.63%]; {-5.46%}
Nat Gas :2.942 (-1.63%); [-10.79%]; {-4.14%}
Copper :3.11 (+1.4%); [+2.6%]; {+2.06%}

Spac Corner -
*SPAC ETF is the top 25 SPACS trading above IPO price. SPACs must be trading >5% of IPO Price. SPAC ETF : (0.04%)
Top 5 Highest SPAC % Changes –
1. KCAC- 14.15 1.2 (+9.27%); 52 week high :25.75
2. IPOB- 20.23 1.31 (+6.92%); 52 week high :27.0
3. SBE- 16.11 0.78 (+5.09%); 52 week high :17.6
4. PSTH- 23.29 0.65 (+2.87%); 52 week high :24.7
5. CPAA- 8.86 0.2 (+2.31%); 52 week high :12.08
Top 5 Lowest SPAC % Changes –
1. KBLM- 4.73 -1.32 (-21.82%); 52 week high :11.5
2. CFFA- 10.02 -0.21 (-2.05%); 52 week high :12.1
3. NOVS- 11.01 -0.2 (-1.78%); 52 week high :12.99
4. FEAC- 12.2 -0.22 (-1.77%); 52 week high :14.7
5. HCCO- 9.22 -0.13 (-1.39%); 52 week high :12.08
Top 5 Spacs by Volume –

1. BMRG- 10.25 0.14 (+1.39%); Volume :5,713,196; ADV:421,139
2. IPOB- 20.23 1.31 (+6.92%); Volume :3,300,169; ADV:3,185,396
3. SBE- 16.11 0.78 (+5.09%); Volume :2,695,407; ADV:2,916,995
4. FEAC- 12.2 -0.22 (-1.77%); Volume :1,747,469; ADV:2,140,636
5. CCIV- 9.72 -0.05 (-0.51%); Volume :1,441,078; ADV:1,156,895
Top 5 Spacs Trading Above ADV –

1. TZAC- 10.88 0.0 (0.0%); ADV:9,561: Multiple of ADV:17.71
2. ORSN- 10.205 0.035 (+0.34%); ADV:40,897: Multiple of ADV:15.64
3. BMRG- 10.25 0.14 (+1.39%); ADV:421,139: Multiple of ADV:13.57
4. KBLM- 4.73 -1.32 (-21.82%); ADV:18,862: Multiple of ADV:8.48
5. BCTG- 10.11 0.06 (+0.6%); ADV:6,500: Multiple of ADV:4.58

Dark Pool Summary -

Highest Dark Pool buys by rank –
1. TTD 2 buys totaling 500,000 shares. Average Price : 836.25, Cost : $418,125,000
2. AAPL 6 buys totaling 3,326,000 shares. Average Price : 117.75, Cost : $391,928,419
3.GOOG 1 buys totaling 195,286 shares. Average Price : 1760.0, Cost : $343,703,360
4.NFLX 1 buys totaling 376,200 shares. Average Price : 514.1, Cost : $193,404,420
5. DRI 1 buys totaling 1,709,939 shares. Average Price : 103.1, Cost : $176,294,711

Options Fast Facts -

CBOE Put/Call Ratio – 0.44
Highest Multiple Over Daily Average – TRIP with 38x the ADV of 3868. There were 74222 calls and 71473 puts.
Ticker with Most Contracts –ACB with 619776 contracts traded today with an AVD of 40770. There were 436674 calls and 183102 puts.
Largest Put / Call Ratio – AXL with a 64 P/C ratio. There were 15288puts and 238 calls.
Largest Call / Put Ratio – CUB with a765 C/P ratio. There were 16056 calls and 21 puts. *Stocks must be >$6, Highest Multiple must have >1k ADV, Largest ratios must have an option volume >10k

Yesterday's Picks -

BX 55.69 -1.22,(-2.14%)
BIIB 328.9 0,(0%)
NIO 41.63 -0.72,(-1.7%)

You can find yesterday’s post here.

Momentum Unusual Option Activity

First Momentum Stock Pick -

Ticker:CGC 23.5,2.3(+10.85%) Earnings: None

Name :Canopy Growth Corp. Special Considerations : Pre-ER

Industry : Process Industries Sector : Agricultural Commodities/Milling
Option Information –

Today’s Option Volume: 215409; OptionOI: 459128

Multiple of ADV: 4; ADV: 59937

Total Calls: 190663; Total Puts: 24746

Calls at Ask: 44.6%; Calls at Bid: 35.8%

Puts at Ask: 32.3%; Puts at Bid: 52.5%

C/P Ratio: 8

Noteable Strikes

NOV 06 ’20 22.5C had 9552 VLM and 4223 OI.
NOV 06 ’20 23.0C had 10514.0 VLM and 2108 OI.
NOV 13 ’20 23.5C had 5152.0 VLM and 382.0 OI.
NOV 13 ’20 25.0C had 18783.0 VLM and 1454.0 OI.

News

2020-11-06 14:00:44:2 TSX Stocks to Buy Amid Renewed Interest in Cannabis

Given their strong balance sheets and viable business model, Canopy Growth and Aphria are better equipped to deliver superior returns over the long run. The post 2 TSX Stocks to Buy Amid Renewed Interest in Cannabis appeared first on The Motley Fool Canada .

2020-11-06 12:58:51:Bruce Linton On His $150M Venture: ‘Hemp’s Disruptive Potential Is Higher Than CBD’

Article written in collaboration with Natán Ponieman . After his departure from cannabis behemoth Canopy Growth Corp (NYSE: CGC ), former CEO Bruce Linton kept his senses open for new opportunities. A brief, 7-month tenure as executive chairman of Vireo Health showed the world that, in spite of pursuing other non-cannabis ventures, the entrepreneur is still interested in the cannabis plant. However, Linton appears to be sailing against the CBD current. “I’m not super sold on CBD as a segment, but I’m hugely sold on the hemp plant,” he told us in a recent interview, conducted minutes before hopping on the virtual stage of the Prohibition Partners Live conference. For Linton, the CBD craze will blow over, but the hemp plant is here to stay. And he doesn’t intend to be left behind. Earlier this year, Linton launched Collective Growth Corp (NASDAQ: CGROW), a special-purpose acquisition company that went public on the Nadaq exchange in May, and aims to exploit the potential of hemp, seeking to disrupt many industries that go well-beyond medical and recreational cannabis. “The biggest disruption opportunity related to cannabis plants at large is to use the whole plant and hemp for what it can do.

Potential Sympathy Stocks

SMPL, WEED, SANW, TYHT

Impression

The Call Ask Percent looks good. I wish the Multiple of ADV was a little higher. The C/P ratio is decent..

Company Description for :CGC

Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.

Second Momentum Stock Pick

Ticker:GLUU 8.795,1.885(+27.28%) Earnings: 2021-02-10

Name :Glu Mobile, Inc. Special Considerations : Post-ER

Industry : Technology Services Sector : Internet Software/Services
Option Information –

Today’s Option Volume: 35732; OptionOI: 108236

Multiple of ADV: 13; ADV: 2689

Total Calls: 32400; Total Puts: 3332

Calls at Ask: 55.3%; Calls at Bid: 30.9%

Puts at Ask: 29.3%; Puts at Bid: 60.2%

C/P Ratio: 10

Noteable Strikes

NOV 20 ’20 9.0C had 9053 VLM and 1864.0 OI.

JAN 15 ’21 12.0C had 1567 VLM and 1802 OI.

JAN 21 ’22 17.0C had 1155 VLM and 1205 OI.

News

2020-11-06 16:03:40:Glu closes up 27.3% as bulls process bullish bookings results (NASDAQ:GLUU)

Glu Mobile (NASDAQ:GLUU) finished the day up 27.3%, and touching its highest point since August, after the company logged record revenue and beat bookings

2020-11-06 12:59:59:Trade Desk, HubSpot: 5 Top Stock Gainers for Friday

Modine Manufacturing, Trade Desk, Glu Mobile, Ubiquiti and HubSpot are five of the top stock gainers for Friday.

Potential Sympathy Stocks

ZNGA, MSFT, FB, TTWO

Impression

The Call Ask Percent is high. The Multiple of ADV appears quite bullish. The C/P ratio is decent..

Company Description for :GLUU

Glu Mobile, Inc. engages in developing, publishing, and marketing a portfolio of games designed for users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts such as Apple App Store and Google Play Store. It operates through the following geographical segments: United States of America; Americas excluding United States of America; Europe, the Middle East, and Africa; and Asia Pacific. The company was founded by Paul Zuzelo in May 2001 and is headquartered in San Francisco, CA.

Classic Unusual Option Activity

First Classic Unusual Options Activity Pick -

First Classic Unusual Options Activity Pick –

Ticker:NET 64.47,6.47(+11.15%) Earnings: 2021-02-18

Name :Cloudflare, Inc.

Industry : Information Technology Services

Option Information –

NOV’27 20 75.0C – 2,000 @ 1.35 were traded at 15:38:00 as a BLOCK Spot Price: 66.22

NOV’27 20 80.0C – 1,100 @ 1.60 were traded at 10:23:00 as a BLOCK Spot Price: 68.72

News –

2020-11-06 05:35:01:Oppenheimer Stick to Their Buy Rating for Cloudflare

Oppenheimer Stick to Their Buy Rating for Cloudflare

2020-11-06 02:10:28:Cloudflare Pops 11% On Robust 3Q Sales; Stock Up 240% YTD

Shares of Cloudflare Inc. jumped 10. The post Cloudflare Pops 11% On Robust 3Q Sales; Stock Up 240% YTD appeared first on Smarter Analyst .

Sympathy Stocks for : NET

PIKL, PERI, PINS, PWNX

This stock was also mentioned on Oct-13-2020 at a closing price of 59.73

Company Description for :NET

(‘NET’, ‘Cloudflare, Inc. engages in the provision of cloud-based services to secure websites. It offers various products for performance and reliability, video streaming and delivery, advanced security, insights, cloudflare for developers, domain registration and cloudflare marketplace. The company was founded by Matthew Prince, Michelle Zatlyn and Lee Holloway in 2009 and is headquartered in San Francisco, CA.’)

Second Classic Unusual Options Activity Pick -

Ticker:PLTR 13.83,1.95(+16.41%) Earnings: 2020-11-12

Name :Palantir Technologies, Inc.

Industry : Packaged Software

Option Information –

NOV’20 20 15.5C – 1,001 @ 1.00 were traded at 14:04:00 as a SWEEP Spot Price: 14.14

News –
2020-11-06 15:52:22:Why SuRo Capital Shares Are Trading Higher And Could Be A Palantir Play

Investment fund SuRo Capital Corp (NASDAQ: SSSS ) reported third-quarter earnings, growing its net asset value. The company also highlighted its investment in Palantir Technologies Inc (NYSE: PLTR ), which recently completed its direct listing. Q3 Earnings: SuRo Capital, which owns stakes in venture-backed private companies, reported third-quarter net asset value of $12.46. Net asset value increased from $11.84 in the prior quarter and $11.24 in the comparable period from the last fiscal year. The net asset value is also significantly higher than the current share price of the company. The company held stakes in 24 companies valued at $215.4 million at the end of the quarter. Related Link: Sutter Rock Capital Could … Full story available on Benzinga.com

2020-11-06 13:39:43:PreMarket Prep Stock Of The Day: Palantir Technologies

Benzinga’s PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly … Full story available on Benzinga.com

Sympathy Stocks for : PLTR

[]

Company Description for :PLTR

(‘PLTR’, ‘Palantir Technologies, Inc. operates as a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The Commercial segment offers services to clients in the private sector. The Government segment provides solutions to the United States (US) federal government and non-US governments. It offers automotive, financial compliance, legal intelligence, mergers and acquisitions solutions. Its products include Palantir Gotham and Palantir Foundry. The company was founded by Stephen Cohen, Nathan Dale Gettings, Joseph Lonsdale, Alexander C. Karp, and Peter Andreas Thiel in 2003 and is headquartered in Denver, CO.’)

What are your thoughts?

%d bloggers like this: