Trade with Eva: Analytics in action >>
Showing posts with label NRG. Show all posts
Showing posts with label NRG. Show all posts

Friday, May 12, 2023

Unusual Options Activity, Fri 5/12/23

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:

  • CVNA May 11 calls  are seeing interest with the underlying stock down 11% (volume: 13.5K, open int: 580, implied vol: ~317%, prev day implied vol: 163%). 5030 contracts traded in a single transaction. Co is expected to report earnings early August.
  • FHN May 10 calls (volume: 3280, open int: 120, implied vol: ~68%, prev day implied vol: 62%). Co is expected to report earnings mid-July.
  • SFM May 38 calls (volume: 3260, open int: 0, implied vol: ~30%, prev day implied vol: 26%). Co is expected to report earnings early August.
  • NRG Jun 33 calls (volume: 2370, open int: 20, implied vol: ~34%, prev day implied vol: 31%). 1080 contracts traded in a single transaction. Co is expected to report earnings late July.

Bearish Put Activity:

  • PARA May 15 puts (volume: 1740, open int: 310, implied vol: ~91%, prev day implied vol: 54%).  1270 contracts traded in a single transaction. Co is expected to report earnings early August.
  • PLAY May 25 puts (volume: 2240, open int: 10, implied vol: ~72%, prev day implied vol: 54%). Co is scheduled to present at an investor day on Tuesday, May 16. Co is expected to report earnings early June.

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (17.58, +0.65, +3.8%).
May 19 is options expiration -- the last day to trade May equity options.

Wednesday, July 12, 2017

=NRG Energy to raise up to $4 bln through asset sales

  • Yesterday (7/11): #9, 15, 26, 72
  • Plans to reduce debt by $13 bln
  • To sell stake in yield co
  • Shares near 2-yr high of $19.76



July 12 (Reuters) - NRG Energy Inc said it would raise as much as $4 billion through asset sales and slash debt by $13 billion, sending its shares surging 21 percent to a near two-year high on Wednesday.

The largest independent U.S. power producer plans to significantly slash costs, as part of an agreement with activist investors Elliott Management and Bluescape Energy Partners to cut costs and reduce debt.

The three-year program intends to achieve "efficiencies primarily in corporate and lower head costs" CEO Mauricio Gutierrez said in a conference call on Wednesday.

In February NRG made a deal with Elliott and private equity firm Bluescape, agreeing to set up a five-member committee to look into cost-cutting, asset sales, capital allocation and broader strategic initiatives.

Elliott and Bluescape together have an 8.2 percent stake in the company, according to Thomson Reuters data.

NRG said it would sell 50-100 percent of its interest in its unit NRG Yield Inc and renewables platform.

NRG Yield had a market valuation of about $3 billion as of Tuesday close. The company's shares were up 3.6 percent at $17.34.

Cheap natural gas flowing from shale fields has brought down electricity prices in recent years, squeezing margins for wholesale power generation companies.

Rival Calpine Corp had debt of $12.2 billion as of Dec. 31 and is rumored to be on the block.

NRG, in comparison, had a debt fair value of $18.6 billion and a carrying value of $19.4 billion during the same period.