Greenlight Capital (David Einhorn) discloses updated portfolio positions in 13F filing

New FHN SDRL ATVI positions, Exited GPN CIVI

Highlights from Q2 2023 filing as compared to Q1 2023:

• New positions in: FHN (~1.3 mln shares), SDRL (~0.27 mln), ATVI (~0.22 mln), AAP (~0.04 mln), HRI (~0.04 mln), SHC (~0.01 mln)
• Increased positions in: NPWR (to ~2.51 mln shares from ~0.76 mln shares), GPK (to ~1.77 mln from ~1.07 mln), BKI (to ~1.34 mln from ~0.92 mln), CPRI (to ~1.65 mln from ~1.24 mln), SWN (to ~9.23 mln from ~8.92 mln) CEIX (to ~2.85 mln from ~2.72 mln),
• Maintained positions in: GRBK (~16.6 mln shares), BHF (~3.12 mln shares), LIVN (~1.03 mln shares), GLD (~0.23 mln shares), FCNCA (~0.02 mln shares)
• Closed positions in: GPN (from ~0.6 mln shares), CIVI (from ~0.46 mln), PANA (from ~0.28 mln), CNXC (from ~0.21 mln)
• Decreased positions in: KD (to ~4.45 mln shares from ~8.5 mln shares), NBSE (to ~0.14 mln from ~2.73 mln), TECK (to ~1.35 mln from ~2.49 mln), NYCB (to ~1.71 mln from ~2.28 mln), THC (to ~0.93 mln from ~1.43 mln), SLV (to ~1.24 mln from ~1.49 mln), REZI (to ~0.49 mln from ~0.66 mln), WFRD (to ~0.43 mln from ~0.58 mln), ODP (to ~1.52 mln from ~1.63 mln), GPOR (to ~0.22 mln from ~0.28 mln)

Insider Trading : Fri 6/9/23

Notable purchases -- CEO adds to ACIW; notable sales -- 10% owner active in WRBY

Buyers:

• ACIW Director, President and CEO bought 43,000 shares at $23.05 - $24.35 worth ~$1.0 mln.
• AMPS 10% owner bought 239,000 shares at $5.165 - $5.64 worth ~$1.3 mln.
• FHN Director bought 10,000 shares at $11.61 - $11.62 worth ~$116K.
• MODG Director disclosed the purchase of 100,000 shares worth ~$1.9 mln.
• SAFT 10% owner bought 9,820 shares at ~$73.863 worth ~$725K.

Sellers:

• CWK 10% owner sold 3,000,000 shares at ~$8.625 worth ~$25.9 mln.
  
• JOE 10% owner Fairholme Fund (Bruce Berkowitz) sold 157,100 shares at $46.08 - $46.52 worth ~$7.3 mln.
• WRBY 10% owner sold 377,421 shares at $12.11 - $12.30 worth ~$4.6 mln.

Unusual Options Activity, Wed 5/17/23

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:

• IQ May 6 calls (volume: 15.5K, open int: 3560, implied vol: ~109%, prev day implied vol: 92%). 3500 contracts traded in a single transaction. Co is expected to report earnings mid-June.
• FHN Jun 10 calls are seeing interest with the underlying stock up 5% (volume: 1500, open int: 0, implied vol: ~69%, prev day implied vol: 62%). Co is expected to report earnings mid-July.
• CRDO Aug 10 calls are seeing interest with the underlying stock up 10% (volume: 1960, open int: 0, implied vol: ~55%, prev day implied vol: 52%). Co is confirmed to report earnings May 31 after the close.
  

Bearish Put Activity:

• TAP May 62.5 puts (volume: 1890, open int: 640, implied vol: ~34%, prev day implied vol: 26%). Co is expected to report early earnings August.
• CHPT May 7.5 puts (volume: 20.2K, open int: 840, implied vol: ~75%, prev day implied vol: 71%).  We noted put activity yesterday (see 5/16 13:17). 20K traded in a single transaction. Co is confirmed to report earnings June 1 after the close.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.94, VIX: (17.10, -0.90, -5.0%).
This week is options expiration -- Friday, May 19th is the last day to trade May equity options.

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.

Insider Trading (Fri 5/5/23)

Notable purchases -- Execs add to EWBC; notable sales -- EVP active in BMY

Buyers:

• ADT President & CEO, EVP-CFO, EVP-COO, EVP-Chief Business Officer, EVP-CLO and Secretary bought a total of 132,000 shares at $4.91 - $5.16 worth ~$667K. 
• FHN Directors (2) bought a total of 35,138 shares at $9.935 - $10.18 worth ~$351K.
• EWBC Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, and one (1) Executive Vice President bought a total of 21,130 shares at $41.25 - $43.00 worth ~$893K.
• KEY Head of Institutional Bank bought 75,000 shares at $9.77 - $9.79 worth ~$734K.
• NWL Chief Financial Officer bought 100,100 shares at $9.92 - $9.99 worth ~$999K.
• STEL Directors (3) bought a total of 144,952 shares at $21.10 - $21.99 worth ~$3.2 mln.
• WSC Chief Executive Officer bought 5,000 shares at $44.62 worth ~$223K.

Sellers:

• BMY EVP & President, Research sold 50,385 shares at $67.05 - $67.111 worth ~$3.4 mln.
• FICO EVP sold 1,335 shares at $739.95 - $740.47 worth ~$988K.
• MMC Director sold 5,500 shares at $179.69 - 179.765 worth ~$988K.
• ORLY EV Chairman of the Board sold 27,000 shares at $925.30 - $931.79 worth ~$25.1 mln.
• PAG Directors (2) sold 10,553 shares at $140.79 - $141.54 worth ~$1.5 mln.