Unusual Options Activity, Tue 6/20/23

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:

• CHPT June 9 calls are seeing interest with the underlying stock down 8% (volume: 8630, open int: 3750, implied vol: ~96%, prev day implied vol: 64%). Co is expected to report earnings late August.
• ETSY Jun 100 calls (volume: 10.2K, open int: 120, implied vol: ~61%, prev day implied vol: 46%). Co approves repurchase of up to $1 bln in common stock. Co is expected to report earnings late July.
• QCOM Jun 130 calls (volume: 3280, open int: 3830, implied vol: ~46%, prev day implied vol: 31%). Co is expected to report earnings early August.
  

Bearish Put Activity:

• PBR Jan25 10 puts (volume: 2410, open int: 0, implied vol: ~43%, prev day implied vol: 27%). Co is scheduled to present at a investor day on Dec 1. Co is expected to report earnings mid-August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.82, VIX: (14.22, +0.03, +0.2%).
July 21 is options expiration -- the last day to trade July equity options.

Long trade : ETSY +70% (4/20)

• Apr.3: #1, 4, 5, 7, 22, 29, 44, 52, 58, 61, 75, 95, 97; vol. 5.5M   +70%

 

-- 2 weeks earlier --

This week's biggest % winners & losers : Oct 28 - Nov 1, 19 (wk 44)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: BGNE (189.56 +36.48%), CRSP (50.89 +27.7%), DCPH (45.46 +26.07%), MRTX (100.04 +23.75%), NTLA (13.6 +22.52%), TGTX (7.08 +22.49%)
• Consumer Discretionary: TIF (127 +28.87%), MUSA (113.57 +22.92%), LOCO (15 +22.85%)
• Information Technology: FIT (7.14 +65.66%), CRUS (72.43 +29.13%), UIS (10.38 +27.52%), HLIT (8.00 +25.59%), QRVO (97.22 +23.03%), UCTT (22.13 +22.4%)
• Financials: LTS (2.62 +32.32%), GDOT (29.08  +15.35%)
• Utilities: PCG (6.43 +28.6%)

This week's top % losers

• Healthcare: CYH (3.2 -28.41%), MMSI (24.15 -19.82%), HMSY (26.53 -19.78%)
• Materials: PVG (9.48 -22.61%), RFP (3.66 -21.46%)
• Industrials: QUAD (4.63 -56.73%), ENPH (18.83 -23.3%)
• Consumer Discretionary: GRUB (33.72 -42.87%), TUP (9.73 -40.31%), ETSY (45.66 -22.18%), MIK (8.69 -19.83%), WWE (55.96  -18.15%)
• Information Technology: CASA (4.3 -33.74%), ANET (185.3 -24.17%), MOBL (4.74 -23.38%),  PINS (20.12, -17.02%)
• Energy: SLCA (4.9 -36.53%), BTU (10.22 -35.15%)

Etsy (ETSY) reported earnings on Wed 30 Oct 19 (a/h)

** charts after earnings **

 

Etsy (ETSY) stock fell Wednesday as the company reported third-quarter results that beat on revenue and matched estimates on earnings but showed profits are contracting. The Etsy earnings report came after the market close.

Etsy reported adjusted earnings of 12 cents per share on revenue of $197.9 million. Wall Street expected earnings of 12 cents on revenue of $193.5 million. Gross merchandise sales reached 41.2 billion, up 30%

Etsy stock dropped 10%, near 47.50, during after-hours trading on the stock market today.

The decline in Etsy stock came as the company lowered full-year guidance on earnings before interest, tax, depreciation and amortization, or EBITDA. Margin guidance was lowered to a range of 22% to 23% from a prior view of 22% to 24%.

Etsy raised its full-year revenue guidance to a range of $809 million to $815 million. Wall Street expected $805.6 million.

"During the third quarter we launched several transformative initiatives to serve as the building blocks for long-term, sustainable growth," Etsy Chief Executive said Josh Silverman said in written remarks with the Etsy earnings release.

-=Etsy (ETSY) reported earnings on Tue 27 Feb 2018 (a/h)

Crafts marketplace Etsy (ETSY), this afternoon reported Q4 revenue and profit that topped analysts’ expectations, and forecast this year’s revenue comfortably ahead of consensus, sending its shares surging in late trading.

CEO Josh Silverman called it a “good” quarter, and noted the company booked its first quarter ever where its total merchandise sales were a billion dollars. He said the company was “well positioned,” and expecting a “great year.”

Revenue in the three months ended in December rose to $136.3 million, yielding EPS of 36 cents.

Analysts had been modeling $132.5 million and 13 cents per share.

For this year, the company is modeling revenue to rise by 21% to 23%, or $533.6 million to $542million, topping consensus for $519 million.

=Etsy (ETSY) reported earnings on Tue 2 May 2017 (a/h)

Etsy misses by $0.01, misses on revs; CEO stepping down, co not providing guidance, discloses additional workforce reductions :

• Reports Q1 (Mar) GAAP net of breakeven, $0.01 worse than the Capital IQ GAAP Consensus of $0.01; revenues rose 18.4% year/year to $96.89 mln vs the $98.35 mln Capital IQ Consensus.
• GMS was $719.0 million, up 14.2% compared with the first quarter of 2016. On a currency-neutral basis (excluding the direct impact of currency translation on GMS from goods that are not listed in U.S. dollars) GMS growth in the first quarter of 2017 would have been 15.2%. Growth in GMS was supported by 12.4% year-over-year growth in active sellers and 18.5% year-over-year growth in active buyers.
• The Company announced that the Etsy Board of Directors has appointed Josh Silverman, a director on the Board since November 2016, as CEO, effective May 3, 2017. Josh succeeds Chad Dickerson, who will step down as CEO and Chair of the Board of Directors. Chad will serve in an advisory role to the Company through May 31, 2017. Fred Wilson, who joined the Etsy Board in June 2007 and has served as lead independent director since October 2014, will succeed Chad as Chair of the Board. Josh previously served as President of Consumer Products and Services at American Express.
• In addition, the Company also announced that John Allspaw, Chief Technology Officer, will be leaving the Company and Mike Brittain, VP of Engineering, will be named interim CTO. Mr. Allspaw will serve in an advisory role to the Company through May 31, 2017.
• Expense Reductions and Resource Realignment
  • "Late last year, Etsy realigned its teams to better support the evolving needs of our business. This has resulted in strengthened cross-functional collaboration, increased accountability and faster execution. Building on this foundation, early in the second quarter of 2017, we also looked for opportunities to increase efficiency and streamline our cost structure. As a result of this process, we have identified savings that will be realized through a combination of headcount reductions and a reduction in internal program expenses. In total, we expect to eliminate approximately 80 positions, which is approximately 8% of the total workforce."
• Guidance
  • In light of the leadership transition, Etsy's new management team will review the Company's 2017 guidance. The Company plans to provide guidance in conjunction with the announcement of its second quarter 2017 results.

=Etsy (ETSY) reported 4Q earnings on Tue 28 Feb 17 (a/h)

BROOKLYN, N.Y. (AP) _ Etsy Inc. (ETSY) on Tuesday reported a loss of $21.4 million in its fourth quarter.

On a per-share basis, the Brooklyn, New York-based company said it had a loss of 19 cents. Earnings, adjusted for non-recurring costs, were 3 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The online crafts marketplace posted revenue of $110.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $106.9 million.

For the year, the company reported that its loss narrowed to $29.9 million, or 26 cents per share. Revenue was reported as $365 million.

Etsy shares have climbed roughly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.12, a climb of 53 percent in the last 12 months.

=ETSY reported earnings on Tue 23 Feb 2016 (a/h)

Etsy misses by $0.04, beats on revs; guides FY16 revs below consensus; sets 2018 targets  :

• Reports Q4 (Dec) GAAP loss of $0.04 per share, $0.04 worse than the two analyst estimate of ($0.00); revenues rose 35.4% year/year to $87.9 mln vs the $86.64 mln Capital IQ Consensus; GMS +21% to $741.5 mln; adj. EBITDA +51% to $14 mln. Growth in GMS was driven by 15.5% year-over-year growth in active sellers and 21.4% year-over-year growth in active buyers.
• Co issues downside guidance for FY16, sees FY16 revs at high end of (+20-25% YoY) ~$328-342 mln vs. $347.90 mln Capital IQ Consensus Estimate. 
• "We expect to achieve a three-year revenue CAGR in the 20-25% range and a three-year GMS CAGR in the 13-17% range. In 2016, we expect revenue growth to be at the high end of our three-year range and GMS growth to be near the mid-point of our three-year range... We expect to exit 2018 with a full-year gross margin that is in the mid-60s percent range, and that 2016 gross margin will be in this range as well... Finally, from an Adjusted EBITDA margin perspective, we estimate that our margin in 2016 will be comparable to 2015 in the 10-11% range and that it will expand to the high teens range by the end of 2018."