Unusual Options Activity Fri 10/13/23

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:

• FOLD Jan24 12 calls (volume: 20.0K, open int: 10, implied vol: ~66%, prev day implied vol: 52%). Co is expected to report earnings early November.
• PBR Nov 15 calls (volume: 34.6K, open int: 450, implied vol: ~40%, prev day implied vol: 38%). 3890 contracts traded in a single transaction. Stock was upgraded to Buy from Hold at HSBC Securities. Co is expected to report earnings late October.
• SE Dec 65 calls (volume: 5570, open int: 20, implied vol: ~70%, prev day implied vol: 68%). 3700 contracts traded in a single transaction. Co is expected to report earnings mid-November.
  

Bearish Put Activity:

• GPRE Oct 25 puts (volume: 2410, open int: 0, implied vol: ~67%, prev day implied vol: 53%). Co is expected to report earnings early November.
• SOFI Oct 8.5 puts (volume: 1080, open int: 1750, implied vol: ~61%, prev day implied vol: 58%). Co is confirmed to report earnings October 30 before the open.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.94, VIX: (13.60, +0.98, +1.0%).
October 20 is options expiration -- the last day to trade October equity options.

Sea Limited (SE) reported earnings on Tue 15 Nov 22 (b/o)

 ** charts after earnings **

 

 

Sea Limited beats by $0.29, beats on revs 

• Reports Q3 (Sep) loss of $0.66 per share, $0.29 better than the S&P Capital IQ Consensus of ($0.95); revenues rose 17.4% year/year to $3.16 bln vs the $3.01 bln S&P Capital IQ Consensus.
• Outlook
  • Given rising macro uncertainties, and with reopening trends having an ongoing effect on the business, we are revising the guidance for digital entertainment. We now expect bookings for the full year of 2022 to be between $2.6-2.8 billion, as compared to the previous guidance of between $2.9-3.1 billion.

Earnings this week : Nov 14 - 18, 22 (wk 46)

Monday (Nov 14)

• Morning:  MASS ACM YOU CGEN XRAY MNDY OTLY TWKS TSEM TSN
• Afternoon: AZTA DLO HLLY JJSF  NU SHLS  VLTA VVV

Tuesday (Nov 15)

• Morning: ARMK BERY DAVA ENR AQUA HD HUYA DNUT SE TME WKME WMT
• Afternoon:  AAP  LVLU  VREX

Wednesday (Nov 16)

• Morning:  LOW ONON SR TGT TJX
• Afternoon:  BBWI CSCO CPA CPRT GLBE HP HI KLIC NVDA SONO

Thursday (Nov 17)

• Morning: BABA BJ BRC BV CAMT CLBT DOLE KSS M NTES NJR WB
• Afternoon:  AMAT BRBR DLB ESE FTCH GPS GLOB KEYS PANW POST ROST STNE UGI WSM WWD

Friday (Nov 18)  

• Morning:  ATKR BKE FL  JD SPB TWST

Sea Limited (SE) reported earnings on Wed 22 May 19 (b/o)

** charts before earnings **

** charts after earnings **

Sea Limited misses by $1.10, beats on revs; says well placed to meet or even beat 2019 digital business guidance 

• Reports Q1 (Mar) GAAP loss of $1.86 per share, $1.10 worse than the S&P Capital IQ GAAP Consensus of ($0.76); revenues rose 193.8% year/year to $578.82 mln vs the $436.74 mln S&P Capital IQ Consensus.
• Total adjusted EBITDA was US$(32.0) million, compared to US$(144.7) million for the first quarter of 2018 and US$(203.6) million for the fourth quarter of 2018.
• Outlook Commentary: Last quarter, we provided adjusted revenue guidance for our digital entertainment business of 1.2 to 1.3 billion dollars for the full year of 2019. This represents 81.5% to 96.7% growth year-on-year, which is a highly ambitious goal for the size of our business by any measure. Still, we are confident that we are well placed to meet or even beat this ambitious target. We may choose to revise our full-year Digital Entertainment guidance upwards next quarter when we have more data.

Earnings this week : May 20 - 24, 19 (wk 21)

Monday (May 20)

• Morning: AZZ IGT PDD QD SPTN
• Afternoon: NDSN

Tuesday (May 21)

• Morning: AZO DAVA DY EV HD JCP KSS MNRO SFL TJX
• Afternoon: CRMT JWN OOMA PSTG SE SKY TOL URBN

Wednesday (May 22)

• Morning: AAP ADI CM CSWI LOW PLAB TGT VFC
• Afternoon: CPRT CTRP HTHT LB MOD NTAP SCVL SNPS VIPS

Thursday (May 23)

• Morning: BBY BJ BRC CTRN HRL MDT ROLL RY SDRL SINA TD TK TNK TTC VIOT WB WMS
• Afternoon: ADSK CVCO DECK DXC HPE HPQ INTU LGF.A ROST SPLK VSAT

Friday (May 24) 

• Morning: BKE FL HIBB

This week's biggest % winners & losers : May 14 - 18, 18 (wk 20)

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

This week's top % gainers

• Healthcare: NERV (7.95 +22.31%), LOXO (170.44 +22.22%), FOLD (16.74 +19.49%), ABAX (83.32 +17.6%), ATRA (50.05 +17.08%)
• Industrials: ESND (13.72 +35.98%), CSTE (15.15 +17.9%)
• Consumer Discretionary: ASNA (3.2 +29.03%), EROS (13.35 +17.11%)
• Information Technology: VNET (6.7 +31.37%)
• Energy: SE (13.07 +24.24%), CLNE (2.42 +23.47%), REGI (16.95 +23.27%), CHK (4.06 +20.83%), CVRR (21.9 +17.11%)

This week's top % losers

• Healthcare: SGYP (1.64 -13.23%), OPK (3.99 -11.73%)
• Industrials: GOL (7.61 -13.33%)
• Consumer Discretionary: VIPS (12.05 -20.25%), ARCO (7.05 -13.5%), JACK (80.72 -10.83%)
• Information Technology: KEM (17.86 -13.47%), ITRI (58.35 -11.92%)
• Energy: TNP (3.47 -10.8%)
• Consumer Staples: CPB (34.37 -15.51%), FLO (19.29 -14.76%), BRFS (5.83 -13.37%)
• Utilities: SBS (7.06 -12.08%), JE (3.6 -11.33%)

Sea Limited (SE) reported earnings on Wed 16 May 18 (b/o)

** charts before earnings **

** charts after earnings **

 

**  2 days later  **

** 1 week later  **

Sea Limited misses by $0.14, beats on revs; raises FY18 guidance 

• Reports Q1 (Mar) loss of $0.61 per share, excluding non-recurring items, $0.14 worse than the Capital IQ Consensus of ($0.47); revenues rose 81.2% year/year to $197.04 mln vs the $159.54 mln Capital IQ Consensus.
• Gross merchandise value was $1.9 billion, an increase of 199.5% year-on-year from $648.3 million for the first quarter of 2017 and up 23.0% quarter-on-quarter from $1.6 billion for the fourth quarter of 2017.
• Co raises guidancefor FY18, sees FY18 revs of $780-820 mln (Prior $730-770 mln) vs. $755.04 mln Capital IQ Consensus Estimate; expects e-commerce GMV for the full year of 2018 to be between $8.2-$8.7 bln (Prior $7.5-8 bln)

Spectra Energy (SE) to be acquired by Enbridge (ENB) for $28 billion

  

  

Canada's Enbridge Inc (ENB) said on Tuesday it would buy Spectra Energy Corp (SE) of Houston in an all-stock deal valued at about $28 billion (C$37 billion) to create the largest North American energy infrastructure company.

The takeover, the most significant energy deal since oil and natural gas prices crashed in mid-2014, highlights how pipeline companies are under pressure to merge as they grapple with overcapacity and sliding tariffs that have slowed dividend growth and unnerved investors.

Enbridge's biggest-ever deal will consolidate its leading position next to U.S. transport giants Kinder Morgan Inc (KMI) and Plains All American Pipeline LP (PAA), which have seen their stock prices sink over the last two years as oil and gas producers slash spending on new wells.

The deal is a shift away from reliance on crude oil and is a bullish bet on natural gas by crude-hauling heavyweight Enbridge. The Calgary-based company expanded existing cross-border pipelines in recent years to help Canada set new export records to the U.S., and the company is one of the biggest owners of oil storage tanks in Cushing, Okla., the pricing hub for West Texas Intermediate crude.

Houston-based Spectra’s natural gas-focused network taps the fast-growing Marcellus basin in the eastern U.S. to serve the Gulf and East Coasts, and includes one of the biggest natural gas pipelines feeding New York City.