Unusual Options Activity Tue 9/5/23

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• MVIS Sep 3 calls (volume: 11.5K, open int: 90, implied vol: ~140%, prev day implied vol: 97%). 2K traded in a single transaction. Co is expected to report earnings early November.
• AXL Sep 7 calls (volume: 1850, open int: 0, implied vol: ~52%, prev day implied vol: 32%). 1850 contacts traded in a single transaction. Co is expected to report earnings early November.
• RENT Sep 2.5 calls are seeing interest with the underlying stock up 7% (volume: 11.1K, open int: 0, implied vol: ~25%, prev day implied vol: 22%). 2350 contracts traded in a single transaction. Co is expected to report earnings early November.
  

Bearish Put Activity:

• MTCH Sep 47 puts (volume: 1860, open int: 20, implied vol: ~45%, prev day implied vol: 33%). Co is scheduled to present at a Goldman Sachs conference tomorrow and a Citigroup conference on Thursday. Co is expected to report earnings late October.
• JD Sep 33 puts (volume: 3160, open int: 400, implied vol: ~40%, prev day implied vol: 33%). Co is expected to report earnings mid-November.
  

Sentiment: The CBOE Put/Call ratio is currently: 1.04, VIX: (13.79, -0.03, -0.2%).
September 15 is options expiration -- the last day to trade September equity options.

Unusual Options Activity, Thur 6/8/23

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• DOCU Jun 62 calls are seeing interest ahead of earnings tonight after the close (volume: 1820, open int: 460, implied vol: ~309%, prev day implied vol: 232%).
• AXL Oct 9 calls (volume: 1510, open int: 0, implied vol: ~43%, prev day implied vol: 39%). Co is expected to report earnings early August.
• FRO Jul 15 calls (volume: 2130, open int: 30, implied vol: ~44%, prev day implied vol: 40%). 2K traded in a single transaction. Co is expected to report earnings late August.
  

Bearish Put Activity:

• ARLO Jul 10 puts (volume: 8150, open int: 10, implied vol: ~48%, prev day implied vol: 41%). Co is expected to report earnings mid-August.
• ILMN Jun 200 puts (volume: 1500, open int: 0, implied vol: ~41%, prev day implied vol: 39%). Co is scheduled to present at a Third Annual Virtual ESG Investor Event on June 12. Co is expected to report earnings mid-August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (13.63, -0.31, -2.2%).
June 16 is options expiration -- the last day to trade June equity options.

-=American Axle (AXL) reported earnings on Fri 1 Nov 2019 (b/o)

American Axle beats by $0.11, misses on revs; guides FY19 revs below consensus

Reports Q3 (Sep) earnings of $0.58 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $0.47; revenues fell 7.7% year/year to $1.68 bln vs the $1.71 bln S&P Capital IQ Consensus.

• Adjusted EBITDA of $265.8 million, or 15.8% of sales.

Co issues downside guidance for FY19, sees FY19 revs of ~$6.6 bln vs. $6.79 bln S&P Capital IQ Consensus.

• AAM is targeting Adjusted EBITDA in the range of $950 - $975 million.

-=American Axle (AXL) reported earnings on Fri 2 Nov 2018 (b/o)

American Axle misses by $0.27, beats on revs; guides FY18 revs in-line, lowers EBITDA margin on higher launch-related expenses and manufacturing costs

Reports Q3 (Sep) earnings of $0.63 per share, excluding non-recurring items, $0.27 worse than the S&P Capital IQ Consensus of $0.90; revenues rose 5.4% year/year to $1.82 bln vs the $1.78 bln S&P Capital IQ Consensus. In the third quarter of 2018, Adjusted EBITDA was $275.0 million, or 15.1% of sales

Co issues in-line guidancefor FY18, sees FY18 revs of $7.25 bln (from $7.20-7.25 bln) vs. $7.25 bln S&P Capital IQ Consensus. Due to higher launch-related expenses and manufacturing costs in the second half of 2018, AAM is now targeting full year Adjusted EBITDA margin for 2018 in the range of 16.25% to 16.5% (from 17.5-17.75%). As a result of a lower than expected full year Adjusted EBITDA, AAM is now targeting Adjusted free cash flow of ~4% of sales in 2018. 

=American Axle (AXL) reported earnings on Thur 3 Nov 2016 (b/o)

American Axle beats by $0.02, reports revs in-line; guides FY16 revs in-line :

• Reports Q3 (Sep) earnings of $0.78 per share, $0.02 better than the Capital IQ Consensus of $0.76; revenues rose 3.6% year/year to $1.01 bln vs the $1.01 bln Capital IQ Consensus.
• Co issues in-line guidance for FY16, sees FY16 revs of $3.95 bln vs. $3.98 bln Capital IQ Consensus Estimate.
• Co is targeting FY16 free cash flow of approx. $160 mln
• See 06:46 comment for details of Metaldyne Performance acquisition.

=American Axle (AXL) reported Q1 earnings on Fri 6 May 2016 (b/o)

American Axle beats by $0.08, misses on revs, announces $100 mln share repurchase program :

• Reports Q1 (Mar) earnings of $0.78 per share, $0.08 better than the Capital IQ Consensus of $0.70; revenues were unchanged from the year-ago period at $969.2 mln, which is below the $1.00 bln consensus.
• Non-GM sales were $323.2 million vs $328.9 million in 1Q15.
• "Our strong first quarter financial results position AAM to achieve our full year 2016 financial targets...As we look forward to the remainder of 2016, we remain focused on supporting the launch of programs in our new business backlog and advancing AAM's product technology..."
• Co announces that its board has authorized a share repurchase program of up to $100 mln through December 31, 2018.