Unusual Options Activity, Mon 5/22/23

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:

• MRSN Jul 10 calls (volume: 2230, open int: 0, implied vol: ~169%, prev day implied vol: 121%). 2K traded in a single transaction. Co will present at an ASCO conference on June 3. Co is expected to report earnings early August.
• SNDL May 2 calls are seeing interest with the underlying stock up 8% (volume: 5120, open int: 700, implied vol: ~108%, prev day implied vol: 80%). Co is expected to report earnings early August.
  
• Direxion Daily S&P Biotech Bull 3x ETF (LABU) May 7 calls are seeing interest with the underlying stock up 7% (volume: 2190, open int: 3820, implied vol: ~93%, prev day implied vol: 80%).

Bearish Put Activity:

• GPS May 7 puts (volume: 1870, open int: 180, implied vol: ~163%, prev day implied vol: 130%). Co is confirmed to report earnings May 25 before the open.
• QRTEA Jun 1 puts (volume: 1250, open int: 0, implied vol: ~130%, prev day implied vol: 108%). 1950 contracts traded in a single transaction. Co is expected to report earnings late July.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (17.04, +0.23, +1.4%).
June 16 is options expiration -- the last day to trade June equity options.

=Sundial Growers (SNDL) reported earnings on Thur 11 Nov 21 (a/h)

 

• Sundial Announces Share Repurchase Program
• Sundial Reports Third Quarter 2021 Financial and Operational Results

Net earnings of $11.3 million for the third quarter of 2021 compared to $71.4 million loss in the third quarter of the prior year.

Adjusted EBITDA of $10.5 million for the third quarter of 2021, compared to an adjusted EBITDA loss of $4.4 million in the third quarter of 2020.

Net revenue from Cannabis segments of $14.4 million for the third quarter of 2021, an increase of 57% over the second quarter of 2021 and an increase of 12% over the third quarter of 2020.

Gross margin from Cannabis segments was $1.8 million, including a loss of $1.9 million from cannabis cultivation and production compared to a loss of $19.5 million from that segment in the third quarter of 2020.

Investment and fee revenue of $3.3 million, realized gains on marketable securities of $6.0 million and Sundial's share of profit from equity accounted investees of $9.9 million for the third quarter of 2021 compared to Nil in the third quarter of the prior year, which preceded the start of these activities.

$1.1 billion of cash, marketable securities and long-term investments at September 30, 2021, and $1.2 billion at November 9, 2021, with $571 million of unrestricted cash and no outstanding debt.

Acquired Inner Spirit on July 20, 2021 and entered into an agreement to acquire Alcanna Inc., Canada's largest private liquor retailer, operating 171 locations, on October 7, 2021, subsequent to the end of the third quarter.

Earnings this week : Nov. 8 - 12, 2021 (wk 45)

Monday (Nov 8)

• Morning:  BKI IMOS COTY EDIT EHTH XPRO GTES HLIO VAC PRVA RDNT RETA TTD TSEM THS TSE USFD VTRS WOW
• Afternoon: ACAD AEIS AEL AMC AMRS ATCO BAND BEKE BLDP CBT CSII CXW DDD DOOR ENV FIVN FRPT IFF IPAR JKHY LFST MRC MRTX MWA NCMI NEWR NEX NHI NVRO NVTA OSH PRA PRAA PRI PRIM PYPL RBLX REAL SANM SDC SPCE SQSP SWAV TME TPIC TREX TRIP TWO VUZI WPRT ZNGA

Tuesday (Nov 9)

• Morning: ADT ATC BSY BHVN BNTX CAH CEVA ECOM DHI EBIX ECVT EPZM FSS HAE HAIN HGV HUYA IIVI IGT ITCI MLCO MIDD MNTV MSGE NOVT PLTR PRPL SEAS STWD SYY TGI TUFN VCEL VSAT WNC WRK WKHS
• Afternoon:  AKA AMK AMPL ARLO ASH CARG CCXI CERT COIN DAR DASH DNUT DOCS DV ELY EPAY EVBG FGEN FLGT FLYW FUBO G GLBE GO GOCO HCAT INO JAZZ LGND LPRO MCFE MODN MSGS NARI NIO NSTG NUVA OLO ONTF PAAS POSH PUBM PYCR RNG RPAY SAIL SCSC SEER SGMS SILK STEP TOST TPTX TTEC TWNK TWOU U UPST VRM VZIO WES WYNN

Wednesday (Nov 10)

• Morning:  ADNT AER APG DFH ENR EYE FLOW FOUR FVRR GIB IS KELYA KRNT ME MNDY PFGC PRGO SHC SHCR VERX WEN WWW
• Afternoon:  AFRM AMWL APP ATO BMBL BRKS BROS BYND BZH CCMP COMP CRCT DIBS DIS DUOL ENS FICO FIGS GDRX HIMS HNST KGC LZ MAX MQ MRVI MSP OPEN ROOT RRGB SDGR SOFI SPTN TASK ULCC WISH ZIP

Thursday (Nov 11)

• Morning: AZUL CAE CELH EPC GRWG MT NICE OGN PGTI SBH STNG THRY TPR UTZ WB WIX YETI
• Afternoon:  AQN ARRY BLNK CPNG FLO GAN JAMF RIDE PAGS PVG SNDL 

Friday (Nov 12)  

• Morning:  AZN CGEN ROLL SPB WRBY

 

Earnings spotlight: 

Monday, November 8: US Foods (NYSE:USFD), Tencent Music (NYSE:TME), AMC Entertainment (NYSE:AMC), 3D Systems (NYSE:DDD), Virgin Galactic (NYSE:SPCE) and PayPal (NASDAQ:PYPL).

Tuesday, November 9: Cardinal Health (NYSE:CAH), Sysco (NYSE:SYY), Nio (NYSE:NIO), Coinbase Global (COIN), Wynn Resorts (NASDAQ:WYNN) and ChannelAdvisor (NYSE:ECOM).

Wednesday, November 10: Performance Food Group (NYSE:PFGC), Wendy's (NASDAQ:WEN), Fiverr International (NYSE:FVRR), Weber (NYSE:WEBR), Disney (DIS), Affirm Holdings (NASDAQ:AFRM), Opendoor Technologies (NASDAQ:OPEN) and Beyond Meat (NASDAQ:BYND).

Thursday, November 11: Alibaba (NYSE:BABA), Li Auto (NASDAQ:LI), Coupang (NYSE:CPNG), Yeti (NYSE:YETI) and Pinduoduo (NASDAQ:PDD).

Friday, November 12: AstraZeneca (NASDAQ:AZN) and Spectrum Brands (NYSE:SPB).

=Sundial Growers (SNDL) reported earnings on Wed 14 Aug 2019 (b/o)

Sundial Growers reports Q2 results -- gross revs +1000% qtr/qtr to CC$20.3 mln, net loss improved from CC$16.7 mln to CC$12.4 mln sequentially (no estimates)

The Company's production and sales ramped up exponentially with added growing capacity and rapidly improving harvest yields.

9,551 kilograms of cannabis were harvested from 94 crops during the second quarter of 2019, compared to 1,896 kilograms from 30 crops during the first quarter.

4,741 kilograms of cannabis were sold during the second quarter, a 14-fold increase from the first quarter of 2019.

Earnings this week : Aug 12 - 16, 19 (wk 33)

Notable earnings reports:

• Barrick Gold (NYSE:GOLD), Sysco (NYSE:SYY), on August 12;
• JD.com (NASDAQ:JD), Tilray (NASDAQ:TLRY),  Grocery Outlet (GO), Huya (HUYA) and Brinker International on August 13; 
•  Myriad Genetics (MYGN), Sundial Growers (SNDL), Canada Goose (GOOS), Cisco Systems (NASDAQ:CSCO), Macy's (NYSE:M), Agilent Technologies (NYSE:A), Luckin Coffee (NASDAQ:LK), Canopy Growth (CGC)
   and Tencent (OTCPK:TCEHY) on August 14; 
• Tapestry (TPR), Nvidia (NASDAQ:NVDA), Alibaba (BABA) and Wal-Mart (WMT), Briggs & Stratton (BGG), Canadian Solar (CSIQ), PagSeguro Digital (PAGS),  Applied Materials (NASDAQ:AMAT), Nio (NYSE:NIO) and Madison Square Garden (NYSE:MSG) on August 15; 
• Deere (NYSE:DE) on August 16.