Unusual Option Activity for Oct-14-2020 DKS

Daily Synopsis -

  • The S&P 500 -0.63% today while the NASDaq decreased by (-0.81%). The Russell 2000 closed lower by (-0.99%). The Dow ended in negative territory at (-0.56%)
  • The best performing sector was Industrials(+0.56%) while Communication Services(-1.19%)was the worst performer.
  • Some attributed today’s decline in part to Treasury Secretary Mnuchin expressing some doubt about a stimulus package before the election, and France announcing night-time restrictions to curb a “second wave” of coronavirus in the region.
  • The market might not have been so distraught by these latter developments since several cyclical sectors did finish in positive territory. The energy space particularly benefited from higher oil prices ($41.02, +0.83, +2.1%) and M&A speculation surrounding Concho Resources (CXO 48.66, +4.52, +10.2%).
  • Therefore, it’s reasonable to think that the market needed to find reasons to cool down from a hot start to the month, including the rally on Monday.
  • Looking ahead to Thursday, investors will receive the weekly Initial and Continuing Claims report, the Philadelphia Fed Index for October, the Empire State Manufacturing Index for October, Import and Export Prices for September, and possibly the Treasury Budget for September, which has been delayed for fiscal year end reconciliation.

Index Summary -

S&P 500 : (-0.63%); NasDaq : (-0.81%);
Russell 2000 :(-0.99%); Dow :(-0.56%);
Vix :26.07 (+1.27%); [-5.92%]; {-1.12%}

Sector Summary -

Three highest sectors for today were –
Industrials: (+0.56%); Energy: (+0.43%); Materials: (+0.29%)
Three lowest sectors for today were –
Communication Services: (-1.19%); Real Estate: (-1.15%); Consumer Discretionary: (-1.11%)

Commodities/Futures -

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

Currency –
USD Index :93.536 (-0.18%); [+0.32%]; {-0.18%}
BC :11440 (-0.13%); [+2.84%]; {+5.64%}

Precious Metals –
Gold :1894.6 (+0.53%); [-0.77%]; {-0.41%}
Silver :24.129 (+0.98%); [-2.81%]; {-0.56%}

Farming –
Soybeans :1044 (+1.25%); [-0.8%]; {+3.48%}
Corn :391.25 (+1.34%); [+0.38%]; {+4.48%}
Coffee :110.1 (-0.09%); [-1.39%]; {+2.61%}

Industrials –
Crude :40.2 (+2.11%); [+1.11%]; {+4.67%}
Nat Gas :2.855 (-7.36%); [-3.5%]; {+1.15%}
Copper :3.0445 (+0.25%); [-0.89%]; {+2.93%}

Spac Corner -
*SPAC ETF is the top 25 SPACS trading above IPO price. SPACs must be trading >5% of IPO Price. SPAC ETF : (0.13%)
Top 5 Highest SPAC % Changes –
1. IPOB- 26.48 2.4 (+9.97%); 52 week high :26.56
2. HCCH- 12.2 0.7 (+6.09%); 52 week high :13.4
3. LGVW- 9.78 0.44 (+4.71%); 52 week high :10.16
4. FMCI- 26.09 0.89 (+3.53%); 52 week high :28.64
5. FTAC- 10.56 0.36 (+3.53%); 52 week high :12.25
Top 5 Lowest SPAC % Changes –
1. DPHC- 24.565 -1.035 (-4.04%); 52 week high :31.8
2. KCAC- 14.5 -0.6 (-3.97%); 52 week high :25.75
3. PCPL- 10.185 -0.345 (-3.28%); 52 week high :11.29
4. INSU- 11.65 -0.33 (-2.76%); 52 week high :14.91
5. LCA- 13.52 -0.22 (-1.6%); 52 week high :19.28
Top 5 Spacs by Volume –

1. FTAC- 10.56 0.36 (+3.53%); Volume :6,834,332; ADV:1,052,628
2. IPOB- 26.48 2.4 (+9.97%); Volume :6,452,357; ADV:4,986,892
3. PCPL- 10.185 -0.345 (-3.28%); Volume :5,219,390; ADV:59,843
4. IPOC- 10.52 -0.07 (-0.66%); Volume :3,027,193; ADV:2,957,718
5. SPAQ- 14.32 0.16 (+1.13%); Volume :2,722,516; ADV:8,121,334
Top 5 Spacs Trading Above ADV –

1. PCPL- 10.185 -0.345 (-3.28%); ADV:59,843: Multiple of ADV:87.22
2. GIK- 10.02 0.04 (+0.4%); ADV:53,014: Multiple of ADV:16.86
3. GRSV- 9.9 0.0 (0.0%); ADV:151,832: Multiple of ADV:8.24
4. FTAC- 10.56 0.36 (+3.53%); ADV:1,052,628: Multiple of ADV:6.49
5. GRNV- 9.975 -0.065 (-0.65%); ADV:25,225: Multiple of ADV:5.66

Dark Pool Summary -

Highest Dark Pool buys by rank –
1. IGIB 8 buys totaling 7,635,321 shares. Average Price : 61.0, Cost : $465,754,581
2. ONLN 4 buys totaling 2,425,716 shares. Average Price : 70.24, Cost : $170,382,292
3.BAC 23 buys totaling 6,268,045 shares. Average Price : 24.07, Cost : $150,781,989
4.PYPL 2 buys totaling 686,400 shares. Average Price : 202.0, Cost : $138,652,800
5. CRM 1 buys totaling 500,000 shares. Average Price : 262.38, Cost : $131,192,500

Options Fast Facts -

CBOE Put/Call Ratio – 0.39
Highest Multiple Over Daily Average – CXO with 48x the ADV of 1088. There were 21035 calls and 30792 puts.
Ticker with Most Contracts –NIO with 1995662 contracts traded today with an AVD of 351449. There were 1623467 calls and 372195 puts.
Largest Put / Call Ratio – TRGP with a 7 P/C ratio. There were 15381puts and 2060 calls.
Largest Call / Put Ratio – BLMN with a177 C/P ratio. There were 10793 calls and 61 puts. *Stocks must be >$6, Highest Multiple must have >1k ADV, Largest ratios must have an option volume >10k

Yesterday's Picks -

SE 167.63 -4.77,(-2.77%)
PDD 82.67 -1.98,(-2.34%)

You can find yesterday’s post here.

Momentum Unusual Option Activity

First Momentum Stock Pick -

Ticker:DKS 62.33,0.29(+0.47%) Earnings: 2020-11-17

Name :Dick’s Sporting Goods, Inc. Special Considerations : 52WkHigh

Industry : Retail Trade Sector : Specialty Stores
Option Information –

Today’s Option Volume: 23345; OptionOI: 79400

Multiple of ADV: 5; ADV: 5017

Total Calls: 21877; Total Puts: 1468

Calls at Ask: 50.4%; Calls at Bid: 35.0%

Puts at Ask: 43.4%; Puts at Bid: 34.0%

C/P Ratio: 15

Noteable Strikes

OCT 16 ’20 62.0C had 10340 VLM and 362 OI.

OCT 23 ’20 62.0C had 2613.0 VLM and 135 OI.

News

No news for today

Potential Sympathy Stocks

HIBB, BGFV, SPWH

Impression

This stock was also mentioned on Oct-14-2020 at a closing price of 62.33

The Call Ask Percent is high. I wish the Multiple of ADV was a little higher. The Call/Put Ratio appears bullish.

Company Description for :DKS

Dick’s Sporting Goods, Inc. engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

Second Momentum Stock Pick

Classic Unusual Option Activity

First Classic Unusual Options Activity Pick -

Second Classic Unusual Options Activity Pick -

What are your thoughts?