Unusual Option Activity for Oct-20-2020 FLEX, SKY, AMD

Daily Synopsis -

  • The S&P 500 eked out a gain of +0.4% today while the NASDaq had a small gain of (+0.25%). The Russell 2000 advanced (+0.22%). The Dow ended in positive territory at (+0.33%)
  • The best performing sector was Energy(+1.18%) while Consumer Staples(-0.11%)was the worst performer.
  • Energy stocks benefited from higher oil prices ($41.51/bbl, +0.67, +1.6%); financial stocks benefited from curve-steepening activity due to selling on the longer-end of the curve; and Alphabet (GOOG 1555.93, +21.32, +1.4%) was a bright spot in the communication services sector despite the Department of Justice filing an antitrust lawsuit against Google.
  • Other measures of support included commentary that Moderna’s (MRNA 71.31, +0.35, +0.5%) COVID-19 vaccine could be available in December, encouraging housing starts and building permits data for September, and better-than-expected earnings reports from Dow components Procter & Gamble (PG 142.48, +0.57, +0.4%) and Travelers (TRV 118.11, +6.27, +5.6%).
  • Conversely, notable earnings-related laggards included IBM (IBM 117.37, -8.15, -6.5%) and Philip Morris International (PM 73.33, -4.51, -5.8%). Intel (INTC 53.43, -1.15, -2.1%) struggled after confirming it will sell its NAND memory business to SK Hynix for $9 billion.
  • Looking ahead, investors will receive the weekly MBA Mortgage Applications Index and the Fed Beige Book for September on Wednesday.

Index Summary -

S&P 500 : (+0.4%); NasDaq : (+0.25%);
Russell 2000 :(+0.22%); Dow :(+0.33%);
Vix :29.18 (+0.58%); [+12.58%]; {+4.6%}

Sector Summary -

Three highest sectors for today were –
Energy: (+1.18%); Financials: (+0.81%); Consumer Discretionary: (+0.8%)
Three lowest sectors for today were –
Consumer Staples: (-0.11%); Health Care: (+0.13%); Materials: (+0.23%)

Commodities/Futures -

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

Currency –
USD Index :93.429 (-0.37%); [-0.83%]; {+0.02%}
BC :11755 (+1.53%); [+2.93%]; {+7.43%}

Precious Metals –
Gold :1911.7 (-0.04%); [+0.4%]; {-0.45%}
Silver :24.698 (+0.33%); [+2.44%]; {-1.16%}

Farming –
Soybeans :1054.25 (+1.02%); [+0.26%]; {-0.05%}
Corn :405.25 (+0.93%); [+1.3%]; {+3.54%}
Coffee :106.05 (-1.23%); [-4.34%]; {-6.1%}

Industrials –
Crude :40.83 (+1.67%); [+1.34%]; {+2.24%}
Nat Gas :2.795 (+4.15%); [+4.9%]; {+6.2%}
Copper :3.086 (+1.72%); [+1.82%]; {+1.93%}

Spac Corner -
*SPAC ETF is the top 25 SPACS trading above IPO price. SPACs must be trading >5% of IPO Price. SPAC ETF : (-0.18%)
Top 5 Highest SPAC % Changes –
1. IPOB- 22.73 1.39 (+6.51%); 52 week high :27.0
2. LSAC- 14.005 0.605 (+4.52%); 52 week high :14.72
3. KCAC- 15.1 0.56 (+3.85%); 52 week high :25.75
4. TRNE- 11.12 0.22 (+2.02%); 52 week high :12.99
5. NOVS- 10.95 0.15 (+1.39%); 52 week high :12.99
Top 5 Lowest SPAC % Changes –
1. DPHC- 19.22 -2.53 (-11.63%); 52 week high :31.8
2. SPAQ- 11.85 -1.0 (-7.78%); 52 week high :21.6
3. FEAC- 13.19 -0.66 (-4.76%); 52 week high :14.7
4. IPOC- 10.35 -0.29 (-2.73%); 52 week high :13.35
5. SMMC- 11.69 -0.27 (-2.26%); 52 week high :12.05
Top 5 Spacs by Volume –

1. SPAQ- 11.85 -1.0 (-7.78%); Volume :8,320,543; ADV:7,749,584
2. DPHC- 19.22 -2.53 (-11.63%); Volume :5,055,146; ADV:4,400,695
3. IPOB- 22.73 1.39 (+6.51%); Volume :3,636,285; ADV:5,490,451
4. SMMC- 11.69 -0.27 (-2.26%); Volume :3,500,026; ADV:514,172
5. SBE- 16.04 -0.05 (-0.31%); Volume :3,132,274; ADV:3,450,588
Top 5 Spacs Trading Above ADV –

1. CLA- 9.69 0.02 (+0.21%); ADV:1,524: Multiple of ADV:240.69
2. KBLM- 10.93 0.0 (0.0%); ADV:2,615: Multiple of ADV:26.99
3. NGA- 9.65 -0.03 (-0.31%); ADV:25,375: Multiple of ADV:18.81
4. FSDC- 10.18 -0.22 (-2.11%); ADV:95,337: Multiple of ADV:11.1
5. ARYA- 10.41 0.0 (0.0%); ADV:26,724: Multiple of ADV:10.13

Dark Pool Summary -

Highest Dark Pool buys by rank –
1. ONLN 1 buys totaling 2,026,396 shares. Average Price : 68.85, Cost : $139,517,365
2. DKNG 3 buys totaling 2,565,000 shares. Average Price : 42.98, Cost : $109,847,175
3.BAC 10 buys totaling 3,411,383 shares. Average Price : 24.2, Cost : $82,615,458
4.YEXT 1 buys totaling 4,154,500 shares. Average Price : 18.0, Cost : $74,781,000
5. SRVR 1 buys totaling 2,068,327 shares. Average Price : 36.1, Cost : $74,666,605

Options Fast Facts -

CBOE Put/Call Ratio – 0.43
Highest Multiple Over Daily Average – FIZZ with 15x the ADV of 1283. There were 960 calls and 17938 puts.
Ticker with Most Contracts –SNAP with 285885 contracts traded today with an AVD of 142888. There were 184109 calls and 101776 puts.
Largest Put / Call Ratio – XEC with a 40 P/C ratio. There were 20286puts and 504 calls.
Largest Call / Put Ratio – PBI with a28 C/P ratio. There were 17962 calls and 641 puts. *Stocks must be >$6, Highest Multiple must have >1k ADV, Largest ratios must have an option volume >10k

Yesterday's Picks -

MPW 17.9 +0.22,(+1.24%)
BIIB 267.6 -1.17,(-0.43%)
ALXN 124.05 +2.29,(+1.88%)

You can find yesterday’s post here.

Momentum Unusual Option Activity

First Momentum Stock Pick -

Ticker:FLEX 14.49,-0.1(-0.69%) Earnings: 2020-10-29

Name :Flex Ltd. Special Considerations : 52WkHigh

Industry : Electronic Technology Sector : Electronic Components
Option Information –

Today’s Option Volume: 39689; OptionOI: 66746

Multiple of ADV: 8; ADV: 5079

Total Calls: 37564; Total Puts: 2125

Calls at Ask: 52.9%; Calls at Bid: 33.3%

Puts at Ask: 74.0%; Puts at Bid: 16.8%

C/P Ratio: 18

Noteable Strikes

OCT 23 ’20 15.0C had 2254 VLM and 3265.0 OI.
OCT 30 ’20 13.5C had 1052.0 VLM and 2023 OI.
DEC 18 ’20 18.0C had 23434 VLM and 90.0 OI.

News

No news for today

Potential Sympathy Stocks

BHE, JBL, SANM, TTMI

Impression

The Call Ask Percent is high. The Multiple of ADV is okay. The Call/Put Ratio appears bullish.

Company Description for :FLEX

Flex Ltd. engages in provision of real-time supply chain insight and logistics services to companies. It operates through the following segments: Communications and Enterprise Compute (CEC), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI), High Reliability Solutions (HRS), and Corporate and Others. The Communications and Enterprise Compute segment includes telecom business of radio access base stations, remote radio heads, and small cells for wireless infrastructure; networking business; server and storage platforms for both enterprise and cloud-based deployments; next generation storage and security appliance products; and rack level solutions, converged infrastructure, and software-defined product solutions. The Consumer Technologies Group segment offers consumer-related businesses in Internet of Things enabled devices, audio, and consumer power electronics, mobile devices; and supply chain solutions for consumer, computing, and printing devices. The Industrial and Emerging Industries segment comprises of metering infrastructure, energy storage, smart lighting, smart solar energy; and industrial, including semiconductor and capital equipment, office solutions, household industrial, and lifestyle, industrial automation and kiosks. The High Reliability Solutions segment relates to health solutions business and automotive business. The company was founded in May 1990 and is headquartered in Singapore.

Second Momentum Stock Pick

Classic Unusual Option Activity

First Classic Unusual Options Activity Pick -

First Classic Unusual Options Activity Pick –

Ticker:SKY 27.22,0.54(+2.02%) Earnings: 2020-10-27

Name :Skyline Champion Corp.

Industry : Homebuilding

Option Information –

NOV’20 20 30.0C – 1,500 @ 1.35 were traded at 14:05:00 as a BLOCK Spot Price: 27.32

News –

No news for today

Sympathy Stocks for : SKY

CVCO, NOBH, DVLY, THO

Company Description for :SKY

(‘SKY’, ‘Skyline Champion Corp. engages in the manufacture and retail of mobile homes and other manufactured housing. It builds homes under the following brands: Skyline Homes, Champion Home Builders, Athens Park Model RVs, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S. and Moduline and SRI Homes in western Canada. The company was founded on June 1, 2018 and is headquartered in Troy, MI.’)

Second Classic Unusual Options Activity Pick -

Ticker:AMD 81.625,-0.375(-0.46%) Earnings: 2020-10-27

Name :Advanced Micro Devices, Inc.

Industry : Semiconductors

Option Information –

OCT’30 20 91.0C – 1,300 @ 1.11 were traded at 11:35:00 as a BLOCK Spot Price: 81.61

News –
2020-10-20 15:47:47:AMD Big Navi release date, price and specs: everything we know about RDNA 2

AMD Navi has been out for nearly a year, but what about the 4K-ready Big Navi? Here’s everything we know about RDNA 2.

2020-10-20 12:30:33:AMD Big Navi GPU leak debunks “misleading” power consumption rumor

New report claims the Navi 21 XT graphics card will feature a total TBP of 320W, not 255W

Sympathy Stocks for : AMD

INTC, NVDA, TXN, MCHP

Company Description for :AMD

(‘AMD’, ‘Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, semi-custom System-on-Chip products, development services and technology for game consoles. The company was founded by W. J. Sanders III on May 1, 1969 and is headquartered in Santa Clara, CA.’)

What are your thoughts?

%d bloggers like this: