Macy’s: Bottom Still Not In?

A very notable, and by far the largest, single name stock option trade of the day just now was the purchase of 45,000 Macy’s (M) Feb 23 puts for $.47 with the underlying stock at $25. Clearly someone is worried that the 15% wipe out in Macy’s stock last...

Oil Service Update

Quick update on the Oil Service sector…primarily the two heavyweights, Schlumberger (SLB) and Halliburton (HAL). Been a very tought sector for quite some time, but interest appears to be perking up with the recover in oil prices. Two of the bigger single name...

Holiday Missive From Options Land

As a full time options trader, one of the most important tools I use is the option flow monitor from Trade Alert (www.trade-alert.com). Anyone who is an active options trader should investigate their product offerings. And I have to give them full credit for the...

Conagra (CAG): Oversold??

Per Gary’s tweet in the sidebar to the right, can’t find many uglier stocks than Conagra (CAG) which has simply gotten destroyed. In options land however people are taking a significant shot that perhaps all this selling activity is a bit overdone. With...

Schlumberger (SLB): Another Big Put Sale

Another brutal day for Schlumberger (SLB) down $2 to $39. Someone is taking a stand for the second day in a row. 18,000 Jan 35 puts just were sold for about $.55, on heels of big sale yesterday of the Jan 37 puts. To put things in perspecitve, SLB was at $75+ zone in...