Archive for November 20th, 2009

Baffling Netlist… Resembling K-Tel (NLST)

Netlist, Inc. (NASDAQ: NLST) is beyond amazing… It is becoming baffling how much this stock has run after all of its HyperCloud related trading gains.   We had noted each morning how Netlist’s chart had become a drunkard that would probably ebb and flow after its inflection point had been hit with 25 million shares [...]

Leap & Metro PCS Elevated Options & Stocks (LEAP, PCS)

With the merger ‘rumors’ out there calling for another potential merger between Leap Wireless International Inc. (NASDAQ: LEAP) with a $1.1 billion market cap and with MetroPCS Communications Inc. (PCS) and a $2.3 billion market cap, it is of no surprise that we are seeing elevated trading in the stocks and even in the options [...]

DryShips Options Pull on Offering (DRYS)

DryShips, Inc. (NASDAQ: DRYS) is seeing some options activity that stands out today, although it is a bit muted by our count considering that the $300 million convertible note offering was juiced up to $400 million and considering the share lending agreement with Deutsche Bank.  The action is almost irrelevant in NOV-2009, but the December [...]

The Big 2011 Yahoo! Options Bet (YHOO)

Yahoo Inc. (NASDAQ: YHOO) has seen a massive trade for January 2011 as 20,000 January $12.50 puts are sold for $1.10, and 20,000 January $17.50 and $30 calls are also sold for a total of $1.75, while 40,000 of the $20 calls are bought for $0.96, a net credit trade.  The 4 legged trade could [...]

Google & Apple Options Pulling Share Prices (GOOG, AAPL)

It is always said that options around the options expiration dates tend to act as a magnet to the closest strike price.  That appears to be the case today in Apple Inc. (NASDAQ: AAPL) and Google Inc. (NASDAQ: GOOG).  While it is easy to refute the notion in many very active stocks, the reason this [...]

Big Bullish Options Bet in B of A (BAC)

Bank of America Corp. (NYSE: BAC) has seen an absolute massive butterfly call spread for January 2011 as 50,000 January $20 and $40 calls are bought for $1.94, and 100,000 $30 calls are sold at $0.37, so a $1.20 debit, expecting shares to nearly double over the next year and volatility to come down a [...]

DryShips Huge Overhang (DRYS)

DryShips Inc. (NASDAQ: DRYS) priced and increased the size of its prior announced offering from $300 million to $400 million in convertible notes issued at PAR with an interest rate of 5% and with an initial conversion price for the convertible notes of $7.19 per share.  In short, overhang and dilution.  That could unload another [...]

Insiders Bailing on Warner Chilcott (WCRX)

Warner Chilcott plc (NASDAQ: WCRX) priced a 20 million share secondary offering of common stock at $22.92 per share via Goldman Sachs, Morgan Stanley, Credit Suisse, and JPMorgan.This is not for the company’s benefit: The selling shareholders include funds affiliated with Bain Capital Partners, DLJ Merchant Banking, J.P. Morgan Partners, Thomas H. Lee Partners, and [...]

BioCryst Offering Pressure (BCRX)

BioCryst Pharmaceuticals, Inc. (BCRX) is active and lower on a secondary offering.  The company sold 5 million shares in a secondary offering at $9.75 per share via Morgan Stanley, JPMorgan, and Oppenheimer.  At 8:22 AM EST we have shares down almost 6% at $9.81 on 87,000 shares.  The average daily volume is $almost 3 million [...]

New Technical Levels on Dell (DELL)

Dell Inc. (NASDAQ: DELL) is down, and you know why… disappointing earnings…. say no more.  This traded over 8 million shares in the after-hours session last night and went out down 6.05% at $14.91 late in the after-hours session.  But this morning at 8:12 AM EST it seems that the eager bearish traders are still [...]