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.

=Frontline Ltd. (FRO) reported earnings on Fri 16 Nov 2018 (b/o)

HAMILTON, Bermuda (AP) _ Frontline Ltd. (FRO) on Friday reported third-quarter net income of $2.2 million, after reporting a loss in the same period a year earlier.

The Hamilton, Bermuda-based company said it had net income of 1 cent per share. Losses, adjusted for non-recurring gains, came to 5 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The shipping company posted revenue of $188.8 million in the period. Its adjusted revenue was $89.2 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $79.9 million.

Frontline shares have increased 36 percent since the beginning of the year. The stock has increased 8 percent in the last 12 months.

Earnings this week : November 12 - 16, 18 (wk 46)

Earnings confirmed to report this week:

Monday (Nov 12) 

• Morning: ACB ACM ATHM
• Afternoon:  APU EB EQH EXPI FOCS HUYA KRNT NVGS TDW UGI VERI YRD YY

Tuesday (Nov 13)

• Morning:   AAP ARMK BZH CAE DQ EPC EYE GDS HD TSN
• Afternoon:  AMRS CDLX CWK HI HOLI MTSI ORIG PETQ REZI SSTI SVMK SWCH TLRY VREX WIX

Wednesday (Nov 14)

• Morning:  APRN BPMP CGC CVIA GOOS LX M MTOR QIWI
• Afternoon: CPA CSCO NTAP NTES PRSP SFS VIPS WPM ZTO

Thursday (Nov 15)

• Morning: BERY BRC CSIQ CUB DDS ENR JCP LXFT MANU SPH SR TK TNK WMT WUBA
• Afternoon: AMAT CRMT DWCH ESE GLOB HTHT JWN MATW  NGVC  NVDA POST SCVL SONO WAIR WSM

Friday (Nov 16)

• Morning: HP FRO  VIAB

=Frontline (FRO) reported earnings on Wed 30 Aug 2017 (b/o)

Frontline misses by $0.02, beats on revs

• Reports Q2 (Jun) loss of ($0.08) per share, excluding non-recurring items, $0.02 worse thanthe Capital IQ Consensus of ($0.06); revenues fell 22% year/year to $150.1 mln vs the $101.4 mln Capital IQ Consensus.
• "The market has been decidedly weak since the start of the second quarter of 2017, which is primarily the result of the increase in the size of the global crude oil tanker fleet. While the weak market naturally affects our earnings in the short term, the company's strategy is not altered. We continue to take proactive steps to increase the earnings potential of our fleet through the ongoing renewal of our fleet and by pursuing an opportunistic approach in the resale and newbuilding markets. Over the last several quarters, we have divested older, less economical VLCCs and Suezmax tankers and have remained focused on acquiring high-quality, modern VLCCs at attractive prices, lowering the average age for our fleet from 8.1 years to 5.7 years."
• "The upcoming quarters may present challenges as vessel supply continues to increase, but we are confident in our ability to continue to execute our strategy with the goal of returning value to shareholders. Given how both the ship values and spot market conditions have developed over the summer, we believe we are better positioned having not done any substantial acquisitions in the first half of the year. We expect attractive opportunities to emerge as a result of the weak market and will remain opportunistic going forward."

Outlook:

• The growth in crude tanker tonne-mile demand suggests that the current tanker market is not suffering from weak demand growth, but rather from excess supply growth which has occurred over the last 18 months. Despite current market weakness which is forecast to continue in the near-term, the Company continues to believe that the market will begin to improve in 2018 as the pace of deliveries of newbuilding vessels slows and vessels are retired from the global fleet