5000/10000 MRVL Feb 14/17 call spreads went up in 2 large blocks. MRVL is making a power move up and the trader likely wants to book gains and get longer.
Calls roll in PPC- roll up or more of the same
Shares of Pilgrims Pride Corp. (PPC) are up 1.02 to 33.14 today.? PPC is near the upper end of the 52 week range.
Paper traded 5000 PPC Mar 35/40 calls for 1.30. ?
- The ADV is 1538 contracts.
- The OI is 9966 and 446 contracts.
The volume went up in 2 giant blocks.? The trade looks like a spread purchase but did not go up marked spread.? This is either covering on the Mar 35 calls and rolling to the 40s or a new, long call spread position.? The intent of either way is higher prices for PPC.
- IV 30 is trading for 49%.
- HV10 is trading for 32%.
- IV 30 is trading above the HV 10.
Pilgrim’s Pride Corp (Pilgrim’s) is a chicken producer with operations in the United States, Mexico and Puerto Rico. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
Short strangles going up in MTOR- paper sells calls and puts
Shares of Meritor Inc. (MTOR) are up .46 to 15.56 today. ??MTOR is making a 52 week high.
Paper traded 10000 MTOR Feb 15 put/16 call strangles at 1.40+. ??
- The ADV is 775 contracts.
- The OI is 117 and 251 contracts.
The volume went up in 2 large blocks plus scattered call selling to make up the 10000 size.? The trader is selling both calls and puts betting on less movement in the near term.? This could be a covered stock play but no stock went up tied to this transaction.
- IV 30 is trading for 48%.
- HV10 is trading for 21%.
- IV 30 is trading over the HV 10.
Meritor, Inc. (Meritor) is a global supplier of a range of integrated systems and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The company serves commercial truck, trailer, off-highway, military, bus and coach and other industrial OEMs and certain aftermarkets. Its products are axles, undercarriages, drivelines, brakes and braking systems. Meritor serves a range of customers worldwide, including medium- and heavy-duty truck OEMs, specialty vehicle manufacturers, certain aftermarkets, and trailer producers.
Call ratios trade in MRVL- possible house money roll
Shares of the Marvell Technology Group ltd. (MRVL) are up 1.01 to 16.05. ??MRVL is near the top of the 52 week range.
Paper traded 5000/10000 MRVL Feb 14/17 call spreads for 1.14.?
- The ADV is 4993 contracts. ?
- The OI is 11000 by 500 contracts.
The volume went up in 2 large blocks.? The trade went up marked spread and could be closing on the Feb 14s with a roll up to the Feb 17s to keep the long going.? MRVL is making a power move up and the trader most likely wants to book gains and get longer.? IV is up in all terms as well so paper is buying options.
- IV 30 is trading for 45%.
- HV10 is trading for 22%.
- IV 30 is trading over the HV 10.
Marvell Technology Group Ltd. (Marvell) is a fabless semiconductor provider of application-specific standard products. The Company develops complex System-on-a-Chip (SoC) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), mobile handsets and other consumer electronics, wireless networking, personal area networking, Ethernet-based personal computer (PC) connectivity, control plane communications controllers, video-image processing and power management solutions.