Unusual options trading activity alert: Put/stock pair in MCHP, well-timed buy in PNK, and big long-term put buyers in SYY.
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Puts trade in MCHP- looks like a put and stock pair
Shares of Microchip Technology Inc (MCHP) are up .54 to 48.56. MCHP is near the top of the 52-week range.
Today paper traded 6499 MCHP Oct 49 puts for 1.50. ?
- ADV is 786 contracts. ?
- OI is 186.
Volume went up in one large block marked buy write.? Usually stock and puts go up as buy/buy so the buy write tag is difficult to discern here.? More put volume traded 1.55 just after the print but now enough to drive up the IV.? There was a lot of Oct call buying as well.? The buy writer might be looking for some protection to keep a long stock position.
- 30-day implied volatility is 17%. ??
- 10-day implied volatility is 9%. ?
- 30 day implied volatility is trading above the 10-day realized volatility.
Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications. The Company?s portfolio consists of specialized 8-bit, 16-bit, and 32-bit PIC microcontrollers and 16-bit dsPIC digital signal controllers, which feature on-board Flash (reprogrammable) memory technology.
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Calls trade in PNK- A well timed buy
Shares of Pinnacle Entertainment, Inc (PNK) are up .65 to 24.85. PNK is in the middle of the 52 week range.
Today paper traded 4000 PNK Sep 24 calls for 1.05. ?
- ADV is 831 contracts. ?
- OI is 144 contracts.
Volume went up in 1 block.? The trade was just off of the ask price and IV is jumping big in here.? This block had subsequent call buyers and with volume trading 5300+ and the stock moving up sharply.? Very bullish trade with no close yet.
- 30-day implied volatility is 32%. ??
- 10-day implied volatility is 10%. ?
- 30-day implied volatility is trading above the 10-day realized volatility
Pinnacle Entertainment, Inc. (Pinnacle), is an owner, operator and developer of casinos and related hospitality and entertainment facilities. The Company operates casinos located in Lake Charles, New Orleans and Bossier City, Louisiana (L?Auberge Lake Charles, Boomtown New Orleans and Boomtown Bossier City), St. Louis, Missouri (River City Casino and Lumiere Place Casino and Hotels), and southeastern Indiana (Belterra Casino Resort).
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Puts trade in SYY- big long term put buyers
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Shares of SYSCO Corp. (SYY) are up .02 to 37.81 today.? SYY is in the middle of the 52 week range.
Today paper traded 7855 SYY Jan 36 puts for 1.05.?
- ADV is 3288 contracts. ?
- OI is 1108 contracts.
Volume went up in one large block.? Total volume is over 10000 contracts with buyer jumping in here on scattered volume.? This could be a newsletter trade but the volume in the blocks is pretty high.? Some put sellers are taking advantage of the jump in IV by selling near term puts in Oct.
- 30-day implied volatility is 17%. ??
- 10-day implied volatility is 4%. ?
- 30-day implied volatility is trading above the 10-day realized volatility
Sysco Corporation (Sysco), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.