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.

=Match Group (MTCH) reported earnings on Tue 6 Aug 2019 (a/h)

Match Group reports EPS in-line, beats on revs and Tinder subs; guides Q3 revs above consensus; raises FY19 EBITDA, revenue, Tinder sub forecast

Reports Q2 (Jun) earnings of $0.43 per share, in-line with the S&P Capital IQ Consensus of $0.43; revenues rose 18.2% year/year to $498 mln vs the $489.16 mln S&P Capital IQ Consensus. Adjusted EBTIDA increased 16% over the prior year quarter to $204 mln vs. $190-195 mln guidance. 

Tinder Average Subscribers were 5.2 million in Q2 2019, increasing 503,000 sequentially vs. > 384K guidance and 1.5 million year-over-year. Average Subscribers increased 18% to 9.1 mln.

Co issues upside guidance for Q3, sees Q3 revs of $535-545 mln vs. $520.57 mln S&P Capital IQ Consensus; EBITDA $200-205 mln vs. $201 mln ests. Expect >400k sequential Average Subscriber additions at Tinder in Q3.

Raises FY19 revenue, EBITDA and subscriber forecast:

• High teens revenue growth (vs mid-teens previously) vs. +16.5% consensus; $770 -- 800 million of EBITDA (vs $740 -- 790 million previously) ? Includes a number of discretionary long-term oriented investments ? Also includes impact of rising legal and regulatory costs (for example new French digital services tax)
• Back half of the year showing meaningful acceleration in revenue and EBITDA growth vs. first half
• Expect ~1.6 million Average Subscriber additions at Tinder (vs >1 million previously) 

Earnings this week : Aug 5 - 9, 19 (wk 32)

Monday (Aug 5)

• Morning: ATRO CARS CYOU KMPR L TA TSN 
• Afternoon: APLE CAR BKD CBT CZR CBPO COHU CXW  EVER  PLOW DCO FRPT HIIQ PODD ITRI KLAC RAMP MAR O SHAK SWAV SNCR TTWO THC WWD

Tuesday (Aug 6)

• Morning:  AFI BHC BDX APRN CAR  CRCM CHK CHH DF DISCA DUK ERI ENR HSIC JLL LGIH MNK MGP MOS  EYE PAYS PLUG SEAS SSTK TEN  FLOW VRTV VG WBT WLK ZTS
• Afternoon: ACLS ADT AFG AINV AIZ AKCA AMN ANDE APEI ARLO AVD AXGN BECN BNFT BOLD BTG CARG CGBD CMP CPE CPSI CTRE CUB DCP DHT DIS DVN DXPE EDIT ENLC ENTA EVH EVRI FANG FATE FLT FTR GBT GCP GH GTES  GWPH HALO HCKT HCR HST HTZ HUBS ICHR INSG INSP IOSP JAZZ KAR KRNT LC LOPE LRN LTHM MAXR MBI MCHP MMI MODN MTCH NDLS NEWR NP NUS NVTA OAS OHI OSUR PAA PAGP PBPB PE PEN PLNT PLT PLYA POWL PTCT PXD PZZA QUOT RRR RTRX SAIL SCOR SEDG SSTI STAY SUPN SWN SWX TGH TROX TWO TXMD VOYA VREX WK WMC WTR WTTR WW WYNN Y ZAGG ZGNX

Wednesday (Aug 7)

• Morning: AMAG ANIP ATHM ATKR AVA BCOR BV CNP CNR CORE CPRI CSTE CVS CYBR DNR DOC ETM EVOP FUN GOLF GTN HL HZNP ICPT INGN INXN IONS JELD KELY.A LAMR LL LXP MDCA MFA MIDD NRG NVMI NXST NYT ODP OMI QEP SBGI SGRY SINA SND SPB SRC SSW STWD TELL TEVA VER VGR WAAS WB WD WEN WWW
• Afternoon: AAOI, AGO, AGS, AIG, ALB, AMPH, ANGI, AOSL, APYX, ARNA, ASRT, ATO, AVLR, AZPN, BKNG, BREW, CABO, CAI, CCMP, CDE, CECO, CLI, COLL, CPA, CPRX, CSGS, CTL, CVNA, CWH, DAR, DDD, DOX, DVAX, EB, ECPG, ENS, ENV, ET, EVRG, FG, FLO, FNV, FOSL, FOXA, FRGI, FSCT, FSM, FTDR, FTK, G, GBDC, GDOT, GKOS, GLPI, GTE, HHC, IAC, IAG, ICUI, IIPR, IMMU, INFN, IVR, JACK, KIDS, KRO, LHCG, LYFT, MATX, MELI, MFC, MNST, MRAM, MRO, NTES, NTRA, NUAN, NVEE, OPK, ORA, PAAS, PDCE, PEGA, PETQ, PRA, PRI, PRSC, PTLA, QHC, QRTEA, QTWO, RCII, RDUS, REZI, RGLD, RGNX, RLJ, ROKU, RUN, RYAM, RYN, SENS, SFLY, SGMO, SJI, SONO, SRPT, STMP, SUN, SWCH, SWKS, SWM, TCX, TLND, TPIC, TRIP, TTGT, TVTY, TWNK, UHAL, UPLD, UPWK, VERI, WMGI, ZG, ZVO 

Thursday (Aug 8)

• Morning: ACIW, AMC, AMRC, AZUL, BAM, BPMP, CAH, CBB, CCOI, CDLX, CEVA, CNNE, COMM, COT, CRON, CSWI, CVIA, DESP, EBIX, ECOM, EGRX, EPAM, ESPR, FOCS, FOLD, FVRR, GOGO, GTS, GTT, HIMX, HMHC, IBP, KDP, KHC, KOP, KTB, LAUR, LITE, LKSD, LNG, MGA, MMS, MPAA, MUR, NBEV, NCLH, NGL, NHI, NICE, NOMD, NS, OGE, PCRX, PNW, PQG, PRGO, PRTY, PTE, RDNT, REV, RLGY, SATS, SNH, SUP, TAST, THR, TTI, TW, USPH, VIAB, VIRT, VSTO
• Afternoon: AAXN AIMT AIRG AL ALRM ALTR AMBC APPN AQN ASYS ATVI AVT AXA C CBS CHUY CISN CNDT COLD CUTR CYRX DBX DXC ELY EPAY EQH ESE FGEN FLNT FNKO FSLY FTCH HBM IIIV JAG MAIN MDP MDRX MESA MTW NKTR NNBR NNI NVGS NVRO NWSA OMER OSTK PBYI PCTY PRA PRAA PUMP QDEL QNST RBA ROAD RVLV SEMG SIEN SPPI SSR SSRM SYMC SYNA TERP TPC TRHC TRUE TSE TTD UBER UNIT VRAY VRTU VSAT VSLR WAIR WPM WPRT WTRH XON YELP

Friday (Aug 9) 
Morning: 

• CBM CLNY DPLO ERF HPT SSP TRCO USCR YRCW

Mon Aug 5 a/h

Thur  Aug 8 a/h

=Match Group (MTCH) reported earnings on Tue 7 Aug 2018 (a/h)

Match Group beats by $0.11, beats on revs; guides Q3 revs above consensus; raises FY18 guidance 

• Reports Q2 (Jun) earnings of $0.45 per share, $0.11 better than the Capital IQ Consensus of $0.34; revenues rose 36.0% year/year to $421.2 mln vs the $413.17 mln Capital IQ Consensus, driven by 27% Average Subscriber growth and 8% ARPU growth.
• Tinder Average Subscribers were 3.8 million in Q2 2018, increasing 299,000 sequentially vs. 200-250K guidance up and 1.7 million year-over-year.
• Adjusted EBITDA increased 60% over the prior year quarter to $176 million vs. $160-165M guidance.
• Co issues upside guidance for Q3, sees Q3 revs of $430-440 mln vs. $425.99 mln Capital IQ Consensus Estimate; EBITDA $160-165M vs. $161M est.
• Co issues in-line guidancefor FY18, sees FY18 revs of $1.68-1.72 bln from $1.60-1.70 bln vs. $1.68 bln Capital IQ Consensus Estimate; EBITDA $625-650M from $600-650M

Earnings this week : Aug 6 - 10, 18 (wk 32)

Notable earnings out this week

Monday (August 6)

• Morning: CTB  BID CAH NWL  SEAS TSN 
• Afternoon: CDEV ETSY HTZ MAR MOS  RNG Z  ZG  TWLO TLND WTW  AEL AKCA AMRS ANDV ANDX ANSS APLE ARNA ATSG AVD AWR BHF BKD BKH BRKS BWXT CBT   CMP CPE CRY CRZO CVCO DCO DPLO DVAX EDIT   EVBG FATE FIVN FRGI FRPT  HHC   ITRI KMT KRNT LGND LMNX     MTSC MTW MWA MXWL NCMI NGHC NPTN NSA NVGS OAS OFIX OTTR PI PLOW PLYA RBC REN   RPD SNHY SYKE TCMD THC  TRTX TUSK  WMC  ZGNX 

Tuesday (Aug 7)

• Morning:  ACM AES AFI AMRC ANIP AQUA ARMK ATKR AVNS AYR BHC BIOS BLD BOLD BR CEVA CORE CROX DEA DF DISCA DNR DQ EGN EGRX EMR EPC EXPD FSS GSKY GTN HAE HLNE HZN IIVI IONS JELD LABL LGIH LPX MGP MNK NHI NJR NS NWN ODP OMI ONCE ONDK PPL PRIM QNST RDUS RHP SAGE SATS SN SNH SPNS TAST TDG TECH TGH TGNA TRS USAC USCR VGR VPG VSH VSM XRAY ZBRA 

• Afternoon:   AAOI  AAXN AIZ ALB ALRM AMBR ANDE ARA BECN BIO BLDR BOFI BOOT BTG CAR CARG CBLK CGBD CIVI CLR CSOD CUTR CWH CYBR DCP DDD DHT DIOD DIS DK DXC DXPE ENV ESE EVH EVRI FGEN FOSL FTK G GCP GWPH HALO HCKT HDP HST ICHR IFF INFN INGN INSP IOSP IPAR IVC IVR JAZZ KAR KRO LC LRN MMI MODN MTCH MXL NEWR NNI NP NVTA OPK ORA PAA PAGP PBPB  PE  PEN PLT POWL PRA PRAA PRI PRMW PRSC PTCT PUMP PXD PZZA QDEL QTWO RLJ RWT SFLY SIEN SNAP SRC SUPN SWX TPC TPIC TRHC TWNK TWO VSLR WEN WK WRD XEC XOG 

Wednesday (Aug 8)

• Morning:   ATHM   CARS CBB CHH CLNY CNDT CNK CRL CSTE CUB CVS DEPO DLPH EBIX ENDP ETM EXTR FI FRTA GEL GOGO GVA HRI HZNP ITG JLL KDP KELYA KORS LAMR LITE LXP MGA MIDD MYL NOVT NXST NYT SBGI SINA  SO STE STWD SUP TGI TLRA TPB TRI WAAS WB WWW WYND

• Afternoon: ACAD ACTG ADT AINV AMBC AMPH ANGI AOSL APEI ATO AVT AYX AZPN BKNG BREW BV CISN COLL CPA CTL CVNA CXW DAR DNB DOOR ECPG ELF ENS EQIX ETE ETP EVRG FANG FG FLO FLS FNV FOXA FSM GBDC GDOT HPR IAC IAG INSY JACK KAMN KIDS LASR LOPE MBI MELI MFC MNST MRAM MUR NEU NKTR NNBR NTES NTRA NUAN NVAX OCLR ORIG OSUR OUT OXY PAAS PDCE PEGA QHC RGLD ROKU RPT SAIL SD SEMG SENS SGMO SJI SLF SRPT SUN TCX TIVO TTGT UHAL UPLD VNOM VRTU WMGI XPER YELP ZTO

Thursday (Aug 9)

• Morning:   BAM BPMP CABO CCE CDAY DDS DSKE FBM GCI GOOS HIMX HL HPT IMOS KOP LAUR LNG LOXO MMS MNTA MPAA NCLH NICE NOMD OGE PEGI PLUG PQG PRGO PRTY PTLA RDNT SGRY SMI SND SNR SPH TRCO TTI UNT  UPL VIAB VRTV VSTO WBT WIN WMS WP

• Afternoon:  ACXM AIRG AL ALTR ASYS AVID AVLR BW CDNA  CHUY COLD CORT CYRX DBX ECOM  ELGX  EPAY FNKO FSCT ICUI INVH JAG JCOM LGF.A MCHP MIME NWSA OLED OMER OSTK  PBYI PCTY PLNT RBA RDFN ROAD RUN  SPPI SSRM SYNA  TRUE  TTD UNIT VSAT WOW WPRT WTTR XON

Friday (Aug 10)

• Morning:  AIT ERF MDP RUTH

=Match Group (MTCH) reported earnings on Tue 2 May 2017 (a/h)

Match Group misses by $0.01, rev above guidance; guides Q2 revs below consensus; reaffirms FY17 guidance; announces 6 mln share buyback :

• Reports Q1 (Mar) earnings of $0.12 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.13; revenues rose 14.8% year/year to $299 mln vs the $301.93 mln Capital IQ Consensus. Note co guided for rev of $287-297 mln, but some estimates seem to include the Princeton Review, which the company divested. EBITDA $86.2 mln vs. $75-80 mln guidance.
• Average PMC grew 16% to 5.9 million over the prior year quarter. Tinder added 227K Average PMC sequentially (14%) to 1.858 mln As reported Total ARPPU down by $0.002 ? Total ARPPU up ~1% YoY, on a constant-currency basis
• Co issues downside guidance for Q2, sees Q2 revs of $303-313 mln vs. $318.16 mln Capital IQ Consensus Estimate.
• Co reaffirms guidance for FY17, sees FY17 revs of $1.26-1.305 bln vs. $1.3 bln Capital IQ Consensus; EBITDA $450-470 mln. First half consistent with expectations with some marketing shift between quarters. Revenue growth more back-end loaded, driven by timing of marketing spend, upcoming Tinder monetization features and increasing ad revenue. Marketing spend down meaningfully YoY in Q1, but ramping on a YoY basis through remainder of 2017 to be up meaningfully in Q4.  
• The Board authorized a share repurchase program of up to 6 million shares of common stock.