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Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) continue to climb rattling strongly for a third-consecutive premarket session, on optimism for its AP24534 compound to impact chronic myelogenous leukemia in patients that were resistant to other drugs. While it is still not in late-stage trials, optimism remains that the company may be healthy to intend it there in the next year-and-a-half, effectively raise its pipeline. Shares are up 11 percent to $2.63 with more than 81,000 changing safekeeping as of 8:30 a.m. Eastern. — Mike Tarsala
Goodyear Tire & Rubber Co. (NYSE: GT) has just seen some very extraordinary options trading today. Normally we might not care, but this is just a day ahead of its quarterly earnings report. We hit seen 25,620 contracts trade in the OCT-2009 $17.50 CALL options. The preceding open interest was only 1,683 and we hit at least 20,000 of those as a buy. That figure looks to be more than every of the open interest of the nearby strike prices combined. As far as how this compares and stands out wildly, the AUGUST-2009 $15.00 CALL options hit traded only 1,510 contracts and that preceding open interest was 2,109. There was only one other CALL that traded actively. That was the JAN-2010 $17.50 CALL, which traded 1,696 contracts versus an open interest of 585 before today.This one azygos extraordinary options trading event is actually far larger than every other PUT and CALL amount activity among every strike prices and every options expiration dates we hit available.
JON C. OGG
JULY 29, 2009
As of NOON EST we have seen some very off state in the Yahoo! Inc. (NASDAQ: YHOO) stock options. We have seen more than the entire open interest of the AUG-$16 CALLS trade hands and it is only NOONEST. This is the state in the AUGUST-2009 CALLS:
Strike.. LAST…volume /Open Interest
$15.00.. $0.80..7,259… 29,464
$16.00.. $0.39..82,151.. 77,586
$17.00.. $0.17..28,327.. 43,205
$18.00.. $0.07..8,939… 42,432
This is more contract state in the $16 CALLS than in the entire PUT matrix…. We have only seen about 32,000 contracts for the entire AUGUST-2009 PUT options with strike prices from $10.00 to $22.00.
This could be some traders commerce their “calls” they owned in hopes of a deal, but much of the state looks like traders making more face bets. If these are face bets, these are so far heading the wrong direction.
Jon C. Ogg
July 29, 2009
Trimble Navigation (Nasdaq: TRMB) shares are trading about 11 proportionality higher to $23.75 on more than 3 times normal volume as of 10:45 a.m. Wednesday. The company missed earnings and revenue expectations, but showed some signs that its engineering and construction business may be stabilizing, and also lost fewer mobile solutions subscribers. — Mike Tarsala
Exelixis Inc. (Nasdaq: EXEL) shares are up more than 3 percent to $6.07 in premarket trading, on volume of about 34,000 shares as of 8:40 a.m. Eastern. There is no news discover on the company, and no known new reports from analysts. Motley Fool mentioned the company rather passively in a story about biotechs being taken out, saying that EXEL is one with “multiple shots on goal”. Of note, Exelixis has a partnership with Bristol-Myers (NYSE: BMY), which bought Medarex Inc. (Nasdaq: MEDX) for a premium last week. At the time, Bristol Myers said it still had the resources for additional deals. — Mike Tarsala
USEC Inc. (NYSE: USU) is getting hammered on function volume after the US DOE declined its long-pending loan indorse application. Shares are down 45% at $3.40 at 9:44 AM EST and we have already seen over 8 million shares trade hands. Total average volume is only 2.6 million shares and the 52-week trading range is $2.58 to $7.24. -Jon Ogg
FULL DETAILS at 247WallSt.com
SunPower Corp. (NASDAQ: SPWRA) managed and upside surprise for the quarter and guided higher for the year. SPWRA has traded 833,000 shares after the close and is up nearly 18% at $29.25 as of 5:26 PM EST. The SPWRB shares are up nearly 19% at $25.60, but on volume of 122,000 since the close. SPWRA has an average of 4.6 million shares on most days and SPWRB trades only about 700,000 shares on average during normal days.
This was also strong enough to run another large solar stocks… First Solar (FSLR) closed up 4% at $157.78, and those shares are up 3.6% at $163.50. Suntech Power Holdings Co. Ltd. (STP) closed up nearly 6% at $18.93 and its after-hours trading is up 6% at $20.07. Energy Conversion Devices, Inc. (ENER) closed up nearly 4% at $13.48 and its after-hours trading is up 7% at $14.50.
Wynn Resorts Ltd. (WYNN) got a bit of a pop here in volume over the last 15 minutes. We have seen almost a million shares in that time trade and as of 2:45 PM EST there was over 5.5 million shares listed as the volume of the day. When you consider its average volume is 3.8 million, that is an intra-day volume alert. The stock is now up 7.5% at $45.43 now. The culprit for the advise is a tout by Jim Cramer on STOP TRADING on CNBC. He said he hates to say it, but with the new Macau IPO it filed for that this should probably be a $70 stock rather than one its $40’s….. The 52-week range is $14.50 to $119.74. -JON C. OGG
Novavax Inc. (Nasdaq: NVAX) shares are up 2.5 proportionality to $3.27 on premarket volume of about 180,000 shares just after 9 a.m. Eastern. The company said it has selected a respiratory virus candidate for additional preclinical studies to support an investigational new drug application. The company says the selected vaccine has been shown to protect mice against RSV disease and can be produced at commercial manufacturing yields. — Mike Tarsala
Plains Exploration & Production Company (NYSE: PXP) is trading more than 5,700 calls today, around 3X the norm, but the state is in the September $35 calls, where more than 4,065 have traded against no prior Open Interest, and shares are only at $28.74. A large block of 2,000 bought at the offer is responsible for much of the action. PXP’s fundamentals are not rattling strong, as shares have a lot of debt and trade 29X forward earnings, but ahead of August 6th earnings the state is substantially bullish due to an primeval morning note. The note mentioned that a California budget proposal would clear drilling soured the Santa Barbara coast, with Plains Exploration the company set to learn soured existing platforms. Environmentalists are opposed to the first offshore oil lease in California in 40 years, but an agreement would generate $2 billion over its lifetime, including $100 million this year. With a mart container of $3.36 billion, an agreement would be sure to send shares higher, and is likely the reasoning behind the bullish call activity in far out of the money strikes.
Joe Kunkle, founder of OptionsHawk.com
Yahoo! Inc. (NASDAQ: YHOO) is looking higher this morning on pre-market volume, but the stock is also getting a bit exhausted ahead of its earnings. This morning’s move is based upon the reports of a Microsoft search and advertising pact coming as soon as today. Both companies report earnings this week, so if no deal comes do not be shocked if and when there is a disappointment in the reaction. To show how much Yahoo! stock is dependent upon that deal, the 2.4% acquire to $17.28 this morning as of 8:30 has shares compares to a share price of $14.55 as recently as July 9. We have seen close to 200,000 shares trade hands. This “imminent” status will create large trading volume in either direction if and when it comes. -JON OGG
Suncor Energy Inc. (NYSE: SU) is seeing massive bullish state with more than 10,000 August $31 calls trading and 5,500+ August $32 calls trading against minimal open interest, almost all the state offer side. Shares have broken backwards above all major EMAs with potential status at $34.60, the 200 week EMA. Suncor is currently involved with a merger with Petro Canada, where Petro Canada shareholders receive 1.28 shares of Suncor per share held. The combined company will cut costs for Brobdingnagian oil sands projects and expects to be a longer term positive. Suncor earnings on July 23rd should provide more clarity on the merger proceedings and expected earnings impact. Regulatory approval is expected for Q3, but regardless of approval option traders are looking for an upside move in shares in the coming month. Another Brobdingnagian block of calls was just bought, 6,800+ for 17,000+ trading in the August $31 strike now.
-Joe Kunkle, founder of OptionsHawk.com
Suncor Energy Inc. (NYSE: SU) is seeing massive bullish action with more than 10,000 August $31 calls trading and 5,500+ August $32 calls trading against minimal open interest, almost all the action offer side. Shares have broken backwards above all major EMAs with potential status at $34.60, the 200 week EMA. Suncor is currently involved with a integration with Petro Canada, where Petro Canada shareholders receive 1.28 shares of Suncor per share held. The compounded company module cut costs for huge oil sands projects and expects to be a longer term positive. Suncor earnings on July 23rd should provide more clarity on the integration proceedings and expected earnings impact. Regulatory approval is expected for Q3, but regardless of approval option traders are looking for an upside move in shares in the coming month. Another huge block of calls was just bought, 6,800+ for 17,000+ trading in the August $31 accomplish now.
-Joe Kunkle, founder of OptionsHawk.com
Yahoo Inc. (Nasdaq: YHOO) shares are up nearly 3 percent to $16.65 on premarket volume of nearly 100,000 shares. The have haw be gaining on comments Google had on its conference call regarding the return of large online advertisers in the first quarter. Oppenheimer this morning noted that it now has greater confidence that Google can exceed income and EBITDA estimates, and that it haw exceed margin estimates. The research outfit upraised its Yahoo direct to $19 from $13.25. — Mike Tarsala
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BioCryst Pharmmaceuticals Inc. shares are up 32 percent to $5.60, on premarket volume of more than 100,000 shares. The company posted positive results from two Phase III studies of intravenous peramivir in patients with seasonal influenza. The studies were sponsored by BioCryst’s partner Shionogi & Co and conducted during the 2008-2009 influenza season. — Mike Tarsala.