3/22 Recap. The Unusual Options Activity Pays Off...Again

Before I get into today’s recap, let’s talk about what went on in MANU today. 2 hours ago I tweeted

James Bulltard @jamesbulltard7

They’re also going nuts on these $manu calls. Another soon buyout?

There was a huge block of 8,000 calls bought for next week at 28 and another for 2000 at 30. Mind you this isn’t a name that sees much action. An hour later we get this headline:

FSMN - Unusual Whales @faststocknewss

Ratcliffe to Submit Improved Manchester United Bid Above £5B:FT $MANU

Real shocker, they loaded calls before the news emerged, what happened next? If you guessed the stock rocketed, you were correct. It’s uncanny how they play the game and that’s why I spend so much time focused on the options market, it really shows the flow of what matters, buying/selling.

Will this be bought out? I don’t know, for now, Im in this name, conservatively with a covered call on top and you will see my book below.

As for today, hard to say what is going to happen because I’m wrapping up early. For now, stocks look constructively bullish, it’s odd to say, but they do. They were well could close back below that trendline we’re sitting on, but as of this moment they look ok. Powell is speaking now, so alot could change. As I said yesterday just let the next 2-3 sessions happen, let’s see what direction the market picks and go from there. Being right on a move like today isn’t as important as catching the entirety of the move that comes after it.

Trends

1 week

2 week

1 month

Today’s Unusual Options Activity & What Stood Out

When I post this table everyday I try to point out the 5 oddest ones, I don’t really have time to go over every trade but if you look through and see something odd, take note. The first name below I posted today, they’re buying 50% OTM calls on a name, repeatedly, at what point does the stock move? I don’t know, maybe never, but when there is repeated activity, you have to take note.