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Texas Instruments is hovering near a long-term high, and the paper is turning cautious. Depth Charge shows the purchase of about 10,000 April 35 puts for $0.55 and $0.56 against open interest of 5,141 contracts. Total option volume is slightly above average, with puts outnumbering calls by 15 to 1. Earnings come out on April 22, after expiration, so they're just looking for a push lower with these puts. TXN fell 0.93 percent to $35.15. Updated on 4/3 to lighten up at up to $1.15 as the stock pulled back. Exited balance on 4/8 for $.75-$.77
Express Scripts has repeatedly had good earnings.. the shares have been pulling back recently to the same $55 level that was resistance early in the year and some buyers are taking an intermediate-term bet on the long side. Heat Seeker shows the purchase of about 3,100 August 62.50 calls for $0.81 to $0.83 against open interest of 1,283 contracts. Shortly after, some 2,000 of the June 60s traded for $0.64 up to $0.66. Total option volume in the pharmacy-benefits manager is about twice the daily average, with calls outnumbering puts by more than 20 to 1. ESRX fell 0.52 percent to $54.97...Updated 4/25 as the calls nearly doubled $1.56. Updated again on 4/29 ahead of earnings lightened up most at $1.92. 4/30 exited balance up to $2.02.
TXN Trade Idea
4/1/13: Buy to open the TXN April 35 puts up to $.57 or less.Texas Instruments is hovering near a long-term high, and the paper is turning cautious. Depth Charge shows the purchase of about 10,000 April 35 puts for $0.55 and $0.56 against open interest of 5,141 contracts. Total option volume is slightly above average, with puts outnumbering calls by 15 to 1. Earnings come out on April 22, after expiration, so they're just looking for a push lower with these puts. TXN fell 0.93 percent to $35.15. Updated on 4/3 to lighten up at up to $1.15 as the stock pulled back. Exited balance on 4/8 for $.75-$.77
ESRX Trade Idea
4/16/13: Buy to open the ESRX August 62.50 calls at $.83 or less.Express Scripts has repeatedly had good earnings.. the shares have been pulling back recently to the same $55 level that was resistance early in the year and some buyers are taking an intermediate-term bet on the long side. Heat Seeker shows the purchase of about 3,100 August 62.50 calls for $0.81 to $0.83 against open interest of 1,283 contracts. Shortly after, some 2,000 of the June 60s traded for $0.64 up to $0.66. Total option volume in the pharmacy-benefits manager is about twice the daily average, with calls outnumbering puts by more than 20 to 1. ESRX fell 0.52 percent to $54.97...Updated 4/25 as the calls nearly doubled $1.56. Updated again on 4/29 ahead of earnings lightened up most at $1.92. 4/30 exited balance up to $2.02.
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