5 Stocks With Unusual Options Activity (MVRL, EBAY, COP)

Unusual Options Activity for May 28 2015

A quick look at 5 stocks showing unusual options activity with some color around their trading setups as well as recent news and happenings.

1.  ConocoPhillips (COP)- The June 26 weekly $62.50/$60.50 1×2 ratio bear put spread was put on 2,888 times for a $0.03 debit. Shares put in a lower high in April and now appear poised to retest the low $60’s.

2.  eBay (EBAY)- Nearly 8,000 July 17 $62.50 calls were purchased for $0.70-$0.76 early this morning (13,000+ traded now), against open interest of 12,157 contracts. Axiom upgraded them to buy with a $70 price target on May 26th. They see the PayPal spinoff and other spinoffs as a positive for EBAY’s stock price later this year.

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3.  Marvell Technology Group (MRVL)- 3,500 Aug $16 calls were purchased for $0.33, against open interest of 15,205 contracts. There was large buying in the July 17 $14 calls yesterday. The AVGO/BRCM deal is providing a lift for some of the semiconductor stocks.

4.  OvaScience (OVAS)- A rollout from 2,000 June $35 calls ($1.10 credit) into 2,000 Sep $35/$55 bull call spreads ($4.00 debit). Wedbush reiterated their outperform rating and a $52 price target on May 23rd. OVAS will present at Jefferies 2015 Global Healthcare Conference on June 1st.

5.  XOMA Corp (XOMA)- 10,000 Sep $4 calls were bought for $1.10-$1.15, against open interest of 22,425 contracts. 20,000 were bought on May 8th for $0.90-$1.20. This morning, they said their Phase 3 Eyeguard study reached its target exacerbation event. Primary endpoint result due in July.


XOMA Corp (XOMA) Stock Chart

xomo ltd stock chart trading may 28 2015

Thanks for reading.


Read more from Mitchell on his options blog.

Twitter:  @MitchellKWarren

No position in any of the securities mentioned at the time of publication.  Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.