Unusual Options Activity Fri 8/2/24

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:

• HOOD Weekly Aug02 19.5 calls are seeing interest with the underlying stock down 10% (volume: 2.5K, open int: 80, implied vol: ~95%, prev day implied vol: 68%). Co is confirmed to report earnings August 7 after the close.
• GME Weekly Aug09 22 calls (volume: 6.9K, open int: 5.4K, implied vol: ~82%, prev day implied vol: 66%).  Projected U.S. spending on video game hardware, content and accessories fell -5% yr/yr to $4.6B in June 2024, according to Circana. Co is expected to report earnings early September.
• KVUE Aug 21 calls (volume: 28.5K, open int: 39.5K, implied vol: ~38%, prev day implied vol: 32%). 1720 contracts traded in a single transaction. Co is confirmed to report earnings August 6 before the open.
  

Bearish Put Activity:

• SHOP Weekly Aug02 54 puts are seeing interest with the underlying stock down 7% (volume: 10.9K, open int: 8.1K, implied vol: ~68%, prev day implied vol: 55%). Co is expected to report earnings early August
• SNAP Weekly Aug09 9 puts are seeing interest with the underlying stock down 27% (volume: 6.9K, open int: 1.7K, implied vol: ~60%, prev day implied vol: 54%). 2000 contracts traded in a single transaction. Co reported earnings last night and is expected to report its next quarterly earnings report late October.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.92, VIX: (25.33, +6.74, +36.6%).

Unusual Options Activity Tue 5/14/24

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:

• PLUG Weekly May24 4 calls are seeing interest with the underlying stock up 24% (volume: 2900, open int: 840, implied vol: ~168%, prev day implied vol: 89%). Co is expected to report earnings early August.
• LCID May 3.5 calls are seeing interest with the underlying stock up 11% (volume: 31.3K, open int: 19.0K, implied vol: ~123%, prev day implied vol: 79%). 1500 contracts traded in a single transaction. Co is expected to report earnings late July.
• CCL May 15 calls (volume: 2070, open int: 28.1K, implied vol: ~38%, prev day implied vol: 35%). Co is expected to report earnings mid-June.

Bearish Put Activity:

• GME May 20 puts are seeing interest with the underlying stock up 33% (volume: 13.3K, open int: 10.6K, implied vol: ~342%, prev day implied vol: 135%). Stock seeing strong gains amid meme interest. Co is expected to report earnings early June.
• NU May 10.5 puts (volume: 6070, open int: 980, implied vol: ~42%, prev day implied vol: 36%). Co is expected to report earnings early August.

Sentiment: The CBOE Put/Call ratio is currently: 0.89, VIX: (13.60, +0.00, +0.0%).
This week is options expiration -- Friday, May 17th is the last day to trade May equity options.

Unusual Options Activity Tue 9/26/23

Stocks seeing volatility buying (bullish call buying/bearish put buying):

Calls:

• ZIM Oct 12.50 calls are seeing interest with 50 contracts trading vs. open int of 3345, pushing implied vol up around 16 points to ~210.87%
  
• GME Dec 80.00 calls are seeing interest with 65 contracts trading vs. open int of 7260, pushing implied vol up around 29 points to ~142.78%. The Co will report its next earnings in December

Puts:

• RUM Oct 8.00 puts are active with 20 contracts trading vs. open int of 2970, pushing implied vol down around 51 points to ~148.61%
  
• SRPT Jan 75.00 puts are active with 190 contracts trading vs. open int of 555, pushing implied vol down around 6 points to ~124.22%. The Co will report its next earnings in late October/early November

Sentiment: The CBOE Put/Call ratio is currently: 1.02, VIX: (18.53, +1.63, +9.65%).
October 20 is options expiration -- the last day to trade October equity options.

Unusual Options Activity Fri 9/15/23

Stocks seeing volatility buying (bullish call buying/bearish put buying):

Calls:

• GME Sept 23.5 calls are seeing interest with 30 contracts trading vs. open int of 350, pushing implied vol up around 549 points to ~718.3%. The Co will report its next earnings in December
  
• FNGR Sept 9 calls are seeing interest with 250 contracts trading vs. open int of 4880, pushing implied vol up around 1080 points to ~1514.39%. Popping up on the list for the second time this week

Puts:

• FRHC Sept 75 puts are active with 30 contracts trading vs. open int of 1970, pushing implied vol down around 430 points to ~530.67%
  
• AUPH Sept 10 puts are active with 150 contracts trading vs. open int of 1260, pushing implied vol down around 443 points to ~511.84%. The Co will report its next earnings in November

Sentiment: The CBOE Put/Call ratio is currently: 0.93, VIX: (13.75, +0.93, 7.25%).

Unusual Options Activity, Wed 6/7/23

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:

• CMA Jun 45 calls (volume: 3030, open int: 230, implied vol: ~82%, prev day implied vol: 65%). 2210 contracts traded in a single transaction. Co is confirmed to report earnings July 21 before the open.
• MDB Jun 390 calls are seeing interest with the underlying stock down 4% (volume: 1690, open int: 410, implied vol: ~66%, prev day implied vol: 52%). Co is expected to report earnings late August.
• AI Jun 40 calls are seeing interest with the underlying stock down 6% (volume: 9460, open int: 25.3K, implied vol: ~134%, prev day implied vol: 123%). Co is expected to report earnings late August.
  

Bearish Put Activity:

• GME Jun 20 puts are seeing interest with the underlying stock up 4% ahead of earnings tonight after the close (volume: 4430, open int: 2020, implied vol: ~260%, prev day implied vol: 186%).
• DDOG Jun 97 puts are seeing interest with the underlying stock down 6% (volume: 4020, open int: 90, implied vol: ~55%, prev day implied vol: 48%). Co is presenting at a William Blair conference today. Co is expected to report earnings early August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.93, VIX: (14.06, +0.10, +0.7%).
June 16 is options expiration -- the last day to trade June equity options.

This week's biggest % winners & losers : Dec 9 - 13, 19 (wk 50)

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: THOR (68.03 +171.79%), ARQL (20.07 +107.6%), DERM (12.7 +61.17%), TGTX (10.1 +41.85%), FATE (18.79 +37.45%), CLVS (12.86 +33.82%), ASMB (21.46 +30.61%), AMRX (4.76 +29.35%), ITCI (12.83 +25.74%), RUBY (13.11 +23.45%), DCPH (64.63 +22.41%)
• Industrials: BE (6.78 +28.41%)
• Information Technology: PLAB (15.94 +29.07%), ARLO (4.21 +28.35%)
• Energy: AM (5.85 +30.29%), AR (2.69 +22.83%), DNR (1.26 +22.33%)

This week's top % losers

• Healthcare: SGMO (8.51 -27.02%), OMI (5.51 -26.92%), ATNX (14.55 -18.03%), NXGN (14.77 -17.51%), MDGL (97.45 -16.85%), SPPI (8.36 -15.04%)
• Consumer Discretionary: CONN (12.59 -35.17%), LOVE (10.74 -28.21%), PLCE (54.11 -22.51%), VNCE (17.37  -21.76%), GME (5.45 -18.41%), DBI (15.04  -9.56%)
• Information Technology: PI (26.03 -15.43%)
• Financials: SBT (7.13 -24.55%), TREE (288.86 -17.67%)
• Consumer Staples: UNFI (6.84 -29.48%)

GameStop (GME) reported earnings on Tue 10 Dec 19 (a/h)

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GameStop misses by $0.66, misses on revs, comps -23.2%; lowers FY20 EPS, comps guidance

Reports Q3 (Oct) loss of $0.49 per share, excluding non-recurring items, $0.66 worse than the S&P Capital IQ Consensus of $0.17; revenues fell 25.7% year/year to $1.44 bln vs the $1.62 bln S&P Capital IQ Consensus. The sales decline was driven by a consolidated comparable store sales decrease of 23.2%.

Co lowers guidance for FY20, sees EPS of $0.10-0.20 (Prior $1.15-1.30), excluding non-recurring items, vs. $1.26 S&P Capital IQ Consensus; sees a comps decline in the high-teens (Previously saw down low-teens)

"Our third quarter results continue to reflect the prevailing industry trends, most notably the unprecedented decline in new hardware sales seen across the market as the current generation of gaming consoles reach the end of their lifecycle and consumers delay their spending in anticipation of new hardware releases. With console makers set to introduce new and innovative gaming consoles late next year, we anticipate this trend to continue until the fourth quarter of 2020. Despite the current top-line trends, we are pleased with the continued strong progress that we are making against our strategic initiatives as we transform GameStop for the future. We remain on track to achieve our $200 million annualized operating profit improvement goal, by 2021 and we believe our strategic initiatives will enable to us to achieve our long-term growth and profit objectives as we fully leverage our unique leadership position and brand in the video game space."

Earnings this week : Dec 9 - 12, 19 (wk 50)

Monday (Dec 9)

• Morning: THO
• Afternoon: CDMO CASY CHWY ROAD MDB PHR SFIX TOL MTN

Tuesday (Dec 10)

• Morning: AZO CMD CONN DBI HDS
• Afternoon: PLAY GME OLLI

Wednesday (Dec 11)

• Morning: AEO PLAB PLCE UNFI VRA
• Afternoon: LULU MESA NDSN OXM NX TLRD

Thursday (Dec 12)

• Morning: CIEN LOVE
• Afternoon: ADBE AVGO COST ORL

Friday (Dec 12) 

• None 

 Notable earnings reports: 
Casey's General Stores (NASDAQ:CASY), Chewy (NYSE:CHWY), MongoDB (NASDAQ:MDB), Stitch Fix (NASDAQ:SFIX), Toll Brothers (NYSE:TOL), Vail Resorts (NYSE:MTN) on December 9; AutoZone (NYSE:AZO), Dave & Buster's (NASDAQ:PLAY) and GameStop (GME) on December 10; American Eagle Outfitters (NYSE:AEO), Lululemon (LULU) and Tailored Brands (NYSE:TLRD) on December 11; Nio (NYSE:NIO), Adobe (NASDAQ:ADBE), Broadcom (NASDAQ:AVGO), Costco (NASDAQ:COST) and Oracle (NYSE:ORCL) on December 12.

GameStop (GME) reported earnings on Tue 10 Sept 19 (a/h)

** charts before earnings **

 

** charts after earnings ** 

GameStop misses by $0.10, misses on revs; guides FY20 EPS below consensus, lowers comps guidance; outlines core tenets of new strategic plan

Reports Q2 (Jul) loss of $0.32 per share, excluding non-recurring items, $0.10 worse than the S&P Capital IQ Consensus of ($0.22); revenues fell 14.3% year/year to $1.29 bln vs the $1.34 bln S&P Capital IQ Consensus with consolidated comparable store sales decrease of 11.6%.

Co issues downside guidance for FY20 EPS of $1.15-1.30, excluding non-recurring items, vs. $1.57 S&P Capital IQ Consensus; Comps decline in the low teens (prior guidance was for decline of 5-10%).

As previously announced, GameStop is currently implementing a cost-savings and operating profit improvement initiative - now expects to achieve annualized operating profit improvement in excess of $200 million, an increase from its initial estimate of ~$100 million.

Also introduced the core tenets of its GameStop Reboot strategic plan for the future. The four pillars to the strategic plan include: Optimize the core business by improving efficiency and effectiveness across the organization, including cost restructuring, inventory management optimization, adding and growing high margin product categories, and rationalizing the global store base. Create the social and cultural hub of gaming across the GameStop platform by testing and improving existing core assets including the store experience, knowledgeable associates and the PowerUp Rewards loyalty program. Build digital capabilities, including the recent relaunch of GameStop.com. Transform vendor and partner relationships to unlock additional high-margin revenue streams and optimize the lifetime value of every customer.

Earnings this week : Sept 9 - 15, 19 (wk 37)

Monday (Sept 9)

• Afternoon: AGX CASY CTRP PHR

Tuesday (Sept 10)

• Morning: HDS
• Afternoon: PLAY FARM GME RH  ZS

Wednesday (Sept 11)

• Morning: LOVE
• Afternoon: ACB OXM  ORCL  TLRD

Thursday (Sept 12)

• Morning: DLTH KR MCFT
• Afternoon: AVGO UEPS  VNCE

Friday (Sept 13) 

• none

GME — NR

GameStop (GME) reported earnings on Tue 2 Apr 2019 (a/h)

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** charts after earnings **

GameStop beats by $0.02, misses on revs, comps +1.4%; guides AprQ EPS below consensus; guides FY19 revs below consensus; concludes review of strategic and financial alternatives, announces $100 mln profit improvement initiative 

• Reports Q4 (Jan) earnings of $1.60 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $1.58; revenues fell 7.6% year/year to $3.06 bln vs the $3.28 bln S&P Capital IQ Consensus.
  • Co reports same store comps of +1.4% (+3.4% increase in the US and -2.9% decrease internationally). In terms of why revenue declined but comps were up, it was the shift in the company's fiscal calendar for the 53rd week in fiscal 2017 and the timing of the Call of Duty launch.
• Co issues downside guidance for Q1 (Apr), sees EPS of $(0.05)-0.00 vs. $0.27 S&P Capital IQ Consensus.
• Co issues downside guidance for FY19, sees FY19 revenue decline of 5-10%, which we compute as $7.46-7.87 bln vs. $7.88 bln S&P Capital IQ Consensus. Co guides to FY19 same store comp decline of -10% to -5%.
• Co concludes review of strategic and financial alternaitves. Co anticipates the retirement of the $350 mln in unsecured senior notes scheduled to mature in October 2019 to be completed by April 4, 2019. This will significantly reduce leverage. Co currently has $300 mln available under the current share repurchase authorization.
• "As we think about 2019 and beyond, we recognize the challenges facing our pre-owned video game business and are prepared to address them as we continue to evolve our business model going forward. Importantly, we will continue to leverage our powerful brand to drive growth and, with a new cost savings and profit improvement initiative in place, we will focus our efforts on driving profitability."
• Co says it's embarking on a cost savings and profit improvement initiative. This includes supply chain efficiencies, operational improvements, expense savings and pricing and promotion optimization. The initial estimates, which are preliminary and could change, the co is working to achieve annualized operating profit improvements of approximately $100 mln. Co expects minimal impact on FY19 results.

Earnings this week : April 1 - 5, 19 (wk 14)

Notable earnings reports:

• Cal-Maine Foods (NASDAQ:CALM) on April 1; 
• GameStop (NYSE:GME) and Walgreen Boots Alliance (NASDAQ:WBA), Lamb Weston (LW) on April 2; 
• Signet Jewelers (NYSE:SIG) and Acuity Brands (NYSE:AYI) on April 3; 
• Constellation Brands (NYSE:STZ), Duluth Holdings (NASDAQ:DLTH) and RPM International (NYSE:RPM) on April 4; 
• Greenbrier (NYSE:GBX) on April 5.

This week's biggest % winners & losers : Jan 28 - Feb. 1, 19 (wk 5)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: APHA (9.62 +34.36%), CRON (20.81 +29.9%), EOLS (18.33 +22.94%), CHRS (14.3 +17.02%)
• Materials: EGO (3.98 +47.96%), SBGL (3.68 +21.45%), IAG (3.75 +21.36%)
• Industrials: MRCY (58.11 +19.81%), GFF (16.2 +18.33%)
• Consumer Discretionary: FLWS (16.35 +22.47%), NIO (7.9 +18.8%), MOD (15.57 +18.13%)  DECK (141.88  +13.18%)
• Information Technology: SCWX (23.11 +27.82%), INFN (5.16 +18.08%), PFPT (114.51 +17.29%)
• Energy: TELL (10.1 +24.54%)
• Consumer Staples: AVP (2.5 +26.26%)

This week's top 20 % losers

• Healthcare: KNSA (17.31 -22.62%), CORT (10.03 -18.39%), INVA (16.41 -17.25%), DNLI (18.66 -14.6%)
• Materials: VEDL (9.22 -16.71%), RFP (7.66 -15.92%)
• Industrials: CMPR (81.69 -31.58%), MATW (37.46 -15.8%), SITE (47.53 -15.06%), SALT (4.62 -13.16%)
• Consumer Discretionary: TUP (26.69 -29.32%), GME (11.24 -29.31%), GES (19.03 -15.2%)
• Information Technology: EPAY (42.52 -16.59%), CLS (8.1 -15.98%), CATM (26.27 -14.62%), SLAB (79.21 -14.43%)
• Financials: GHL (24.91 -16.01%)
• Energy: CNX (11.16 -15.39%)

GameStop (GME) abandons efforts to sell company

• GameStop concludes efforts to pursue a sale citing a lack of available financing on terms that would be commercially acceptable to a prospective acquirer.

** charts after announcement **

In June 2018, GameStop's Board, together with outside financial and legal advisors, commenced a review of a wide range of alternatives to enhance shareholder value. The Board undertook a comprehensive review process, including discussions with third parties regarding a potential sale of the company. GameStop's Board has now terminated efforts to pursue a sale of the company due to the lack of available financing on terms that would be commercially acceptable to a prospective acquiror.

• As part of the Board's review process, as previously announced, the company sold its Spring Mobile business. This transaction was completed on January 16, 2019 and generated approximately $735 million in immediate cash proceeds. The Board continues to evaluate the optimal use of these proceeds, which could include reducing the company's outstanding debt, funding share repurchases, reinvesting in core video game and collectibles businesses to drive growth, or a combination of these options.
• Furthermore, the Board is continuing its search process to appoint a highly qualified, permanent CEO and is working with a leading executive search firm.

** charts before  announcement **

 

This week's biggest % winners & losers : Dec 31 - Jan 4, 19 (wk 1)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: CELG (84.9 +35.99%), EPZM (7.94 +31.46%)
• Industrials: BLDP (2.98 +19.68%)
• Consumer Discretionary: GME (15.24 +24.1%), BEDU (11.04 +19.74%)
• Information Technology: INSG (4.93 +23.25%)
• Financials: LTS (2.83 +23.04%), JT (4.81 +19.95%)
• Energy: DNR (2.19 +27.33%), CVIA (4.27 +25.96%), CRK (5.8 +25.81%), NBLX (33.44 +23.17%)
• Utilities: EBR (8.27 +29.22%), SBS (10.07 +25.56%)

This week's top 20 % losers

• Healthcare: MYOK (42.33 -14.93%), ATRA (29.96 -12.73%), PCRX (38.06 -10.47%), ALGN (186.71 -10.36%), BMY (46.89 -7.95%), GMED (40 -6.87%), MMSI (51.31 -6.66%)
• Materials: RPM (52.26 -9.85%)
• Consumer Discretionary: UXIN (3.6 -29.13%)
• Information Technology: ARLO (9 -15.65%), PLAN (24.1 -11.3%), OLED (83.07 -9.95%), STM (12.6 -9.09%), MLNX (83.92 -8.68%), AVGO (233.23 -8.03%), KN (12.38 -7.75%), VMW (138.91 -12.29%), BITA (20.61 -9.25%)

GameStop (GME) is looking for another CEO again and reviewing strategic alternatives

Videogame retailer GameStop Corp. is working to restructure its business as it searches for its fifth chief executive in a little over a year.

Private equity firms interested in buying GameStop include Sycamore Partners and Apollo Global Management, people familiar with the matter told the Wall St. Journal.

The video game and electronics company has struggled as competition from Amazon and digital gaming have eaten into its sales. Revenues have dropped for four of the last five years, and investors aren't happy. Its stock, which has a $1.5 billion market value, declined 30 percent last year.

The company has been trying to restructure its business and branch out beyond selling new and used video games. But those ventures haven't always worked out. In November, it sold its Spring Mobile business for $700 million to Prime Communications to generate cash.

GameStop and Sycamore Partners declined to comment. Apollo wasn't immediately available to respond to a request for comment.

GameStop (GME) reported earnings on Thur 29 Nov 2018 (a/h)

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** charts after earnings **

GameStop beats by $0.03, beats on revs; lowers FY19 EPS below consensus; strategic review ongoing

• Reports Q3 (Oct) earnings of $0.59 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.56; revenues rose 4.8% year/year to $2.08 bln vs the $2.03 bln S&P Capital IQ Consensus. consolidated comparable store sales increase of 2.1% (3.4% increase in the U.S. and 0.5% decrease internationally). New hardware sales increased 12.8%, driven by demand for Xbox One X and Sony PS4. New software sales increased 10.9% driven by the strong slate of titles that launched during the quarter. Accessories sales increased 32.6% on the strength of headset and controller sales. Pre-owned sales declined 13.4%. Digital receipts increased 29.5% to $341.6 million driven primarily by strength in sales of digital currency. Collectibles sales increased 11.7% to $154.6 million due to continued growth in both our domestic and international collectibles business.
• Co issues downside guidance for FY19, lowers EPS to $2.55-2.75, excluding non-recurring items, from $3.00-3.35 vs. $3.06 S&P Capital IQ Consensus. REaffirms sales down 2-6% with comps down 0-5%.
• "While our Black Friday and Cyber Monday sales were strong, we anticipate that our fourth quarter sales will skew more towards hardware than initially planned which, along with underperformance of certain titles, weakness in pre-owned and recent sales promotions, will result in fourth quarter earnings that are below our previous expectations. Importantly, we are evaluating all aspects of our business, including our store and omni-channel experience, cost structure, strategic and economic partnerships with publishing and platform partners, and relationships with customers and the services we offer to them, to enhance our business and drive growth and profitability over the long term."
• The company also confirmed that it continues to engage with third parties regarding a possible transaction as part of the comprehensive review of strategic and financial alternatives currently being undertaken by the company's board of directors. The ongoing process includes a thorough evaluation of a full range of alternatives to enhance shareholder value.