Unusual Options Activity Thur 12/7/23

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:

• HPQ Dec 29.5 calls (volume: 16.3K, open int: 40, implied vol: ~35%, prev day implied vol: 22%). Co is expected to report earnings late February,
• DDOG Dec 117 calls (volume: 4120, open int: 230, implied vol: ~49%, prev day implied vol: 44%). Stifel upgraded to Buy. Co is expected to report earnings mid-February,
• INGN Jan24 7.5 calls (volume: 2670, open int: 0, implied vol: ~35%, prev day implied vol: 31%). Co is expected to report earnings late February.
  

Bearish Put Activity:

• COIN Dec 130 puts (volume: 3140, open int: 9760, implied vol: ~100%, prev day implied vol: 88%). Co is expected to report earnings late February.
• TSM Dec 96 puts (volume: 2220, open int: 4030, implied vol: ~42%, prev day implied vol: 31%). 1750 contracts traded in a single transaction. Co is expected to report earnings mid-January.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.89, VIX: (13.01, +0.04, +0.3%).
December 15 is options expiration -- the last day to trade December equity options.

Insider Trading : Fri 5/12/23

Notable purchases -- CEO adds to NRDS; notable sales -- 10% owner active in WW

Buyers:

• BFH 10% owner Turtle Creek bought 190,000 shares at $25.27 - $26.87 worth ~$5.0 mln.
• CODI 10% owner bought 34,796 shares at $18.74 - $18.85 worth ~$654K.
• COIN Director bought 810,000 shares at $59.92 - $63.74 worth ~$50.0 mln.
• CPE Director bought 50,000 shares at $30.24 - $31.63 worth ~$1.5 mln.
• NRDS CEO bought 30,838 shares at $8.35 - $8.39 worth ~$258K.
• PACK CEO and Executive Chairman and one (1) Director bought a total of 116,500 shares at $2.85 - $3.30 worth ~$347K.
• SNEX Head-Retail & Foreign Exchange bought 3,000 shares at ~$84.1766 worth ~$253K.
• TFIN Director bought 9,995 shares at $47.64 - $48.80 worth ~$479K.

Sellers:

• AGNC Director, Executive Chair sold 500,000 shares at $9.25 - $9.35 worth ~$4.7 mln.
• APO 10% owner sold 572,051 shares at $62.50 - $64.70 worth ~$36.3 mln.
• AVT Director sold 72,851 shares at $41.65 - $41.93 worth ~$3.0 mln.
• CORT Chief Business Officer sold 44,000 shares at $23.81 - $24.16 worth ~$1.1 mln.
• EME EVP - Shared Services sold 13,462 shares at $165.00 - $167.73 worth ~$2.2 mln.
• JPM President & COO, CEO CIB sold 113,640 shares at ~$135.9274 worth ~$15.4 mln.
• LII EVP & Chief Financial Officer sold 2,808 shares at $282.14 - $282.49 worth ~$792K.
• NVEC President and CEO sold 20,000 shares at $87.17 worth ~$1.7 mln.
• OLED Director sold 15,000 shares at $136.61 - $137.24 worth ~$2.1 mln.
• ORLY EV Chairman of the Board sold 1,000 shares at ~$950.4487 worth ~$950K.
• POOL General Counsel/Secretary sold 2,333 shares at $352.00 worth ~$821K.
• SOFI Chief Technology Officer sold 200,000 shares at $5.46 - $5.475 worth ~$1.1 mln.
• UFPT Chief Financial Officer sold 7,354 shares at $142.00 - $142.50 worth ~$1.0 mln.
• WW 10% owner sold 14,818,300 shares at ~$7.15 worth ~$105.95 mln.

==Coinbase Global (COIN) reported earnings on Tue 21Feb 23 (a/h)

 

Coinbase Global misses by $1.05, beats on revs; guides for sequential increase in subscription and services revenue of 10.4% at midpoint

• Reports Q4 (Dec) loss of $2.46 per share, $1.05 worse than the S&P Capital IQ Consensus of ($1.41); revenues fell 74.7% year/year to $629.1 mln vs the $587.37 mln S&P Capital IQ Consensus.
• Trading volume of $145 bln, down from $159 mln in Q3 and $547 bln in year-ago period.
  • Bitcoin trading volume 35% of total volume.
  • Ethereum trading volume 33% of total volume.
• Subscription and services revenue grew 34% qtr/qtr to $283 mln.
• Adj. EBITDA of ($124) mln.
• 1Q23 Outlook: Subscription and Services revenue of $300-$325 mln; Sales and Marketing expense of $60-$70 mln; Transaction Expenses mid-teens as % of net revenue.
  • Does not expect to meaningfully increase headcount compared to Q1 levels. Operating toward goal of improving adjusted EBITDA in absolute dollars vs. FY22.

Earnings this week : Feb 20 - 24, 23 (wk 8)

Monday (Feb 20)

• Afternoon: ADTN CPRT PLOW MTW NDSN WMB

Tuesday (Feb 21)

• Morning: ARNC AWI AVNS BCRX DAN DRH DFIN ELAN NPO ETRN ESPR EXPD FLR HRMY HD HUN IR JBT JELD LGIH LECO LPX MDT MIDD TAP PEG SPNS SMP TECK TPH TRN WD WMT WLK
• Afternoon:  ABCL ALIT ATRC AGR BCC CZR CWH CHK CWAN COIN CSGP CW FANG ESI EXAS FLS GFL GMED HALO TWNK IAA IOSP KAR KW KEYS LZB MTDR MATX MED NHI PANW PEB PUMP PTCT PSA QTWO O RBA SRPT SBAC SPT STAA SKT TOL RIG UFPI UNVR VNOM WSC WK ZIP

Wednesday (Feb 22)

• Morning:  ALLE AVA BIDU BCO CRL CSTM DRVN EDIT EVBG FVRR FDP GRMN GEL THRM ROCK GIL GLBE HEES IBP IART IONS LIVN NI OSTK PGTI PLAB DOC PRG RGEN SBGI STLA SHO TJX TNL UTHR VRT WING WIX WWW
• Afternoon:  ACVA AGI ATUS AMWL ANSS APA AMK BTG BMBL WHD CPE CAKE CHDN CIVI CDE FIX CTRA CCRN DVA BROS EBAY ECPG EPR ETSY EVTC EVH EXR FPI FNF FIVN GKOS GSHD ICLR IMAX KALU LMND LGND LCID MGNI MRVI VAC DOOR MTTR MGRC MMSI MOS MYRG NTAP NUVA NVDA OLO OGS ORA OUT PAAS PK PDCE PXD LUNG RXT RELY RCII SNBR SM STRA RGR NOVA RUN TNDM TDOC TPIC TMDX USPH UCTT UIS U VMI VCYT WES

Thursday (Feb 23)

• Morning: AGIO BABA ALNY AEP AMT HOUS AMBP BAND BBWI BHC CARS CBRE LNG CQP IMOS CCOI COMM DEN DPZ DTE EME ENOV EXLS AG FCN GPC HLMN HNI INSM NTLA IRM KDP KYMR LNTH LKQ MPW MFA MGPI MRNA MODV NABL NEO NTES NEM NICE NKLA NOMD NVCR OGE OPCH PZZA PCG PLNT PRMW PWR RSKD SPTN SRCL SHOO FTI TNK TFX TNC SHYF THRY BLD TAC TRS VCEL VIPS W WOW YETI
• Afternoon:  ACCO ALRM ALKT LNT ALTR AMH ACA ADSK BALY BBDC BYND BIGC SQ BKNG BCOV BWXT CABO CRC CVNA CE CHE CDXS COLL CYRX LAW CUBE CWK DH BOOM EIX ENV EOG EXFY FTCH FND FOXF FTAI GLPI GDOT GDYN GH HBM INFN INGN PODD INTU IRTC KTOS LZ LMAT LSI LYV MNKD MTZ MELI MCW MP NVTS LASR NOG OII LPRO OPEN OPK PAY PBA PEN PRDO PLYA PRI KWR RLAY RVLV RHP SEM SWN SPXC SG TMST TVTX OLED UPLD MDRX VICI VICR VIR WBD XNCR ZETA

Friday (Feb 24)  

• Morning:  ACMR BRC GTLS CM CNK DBRG EVRG FYBR GTN DINO LAMR NWN PNM SSP TBLA TPB SLCA UNIT

Coinbase Global (COIN) : possible SEC investigation into crypto listings

•  Bloomberg News reported that the Securities and Exchange Commission is probing whether the platform is allowing Americans to trade tokens that should be registered as securities.

 

 

 

 

 

 

The US Securities and Exchange Commission’s scrutiny of Coinbase has increased since the platform expanded the number of tokens in which it offers trading, said two of the people, who asked not to be named because the inquiry hasn’t been disclosed publicly. The probe by the SEC’s enforcement unit predates the agency’s investigation into an alleged insider trading scheme that led the regulator last week to sue a former Coinbase manager and two other people.

“We are confident that our rigorous diligence process -- a process the SEC has already reviewed -- keeps securities off our platform, and we look forward to engaging with the SEC on the matter,” Chief Legal Officer Paul Grewal said on Twitter. The SEC declined to comment.

The drumbeat in Washington for US regulators to do more to oversee crypto has grown louder as digital currencies have tumbled from all-time highs, erasing hundreds of billions of dollars in market value. SEC Chair Gary Gensler has homed in on trading platforms and argued that they should do more to protect retail investors.

As the largest US trading platform, Coinbase lets Americans trade more than 150 tokens. If those products were deemed securities, the firm could need to register as an exchange with the SEC. Coinbase shares fell $14.14 to $52.93 in New York, leaving the stock down 79% this year.