Unusual Options Trades: Scientific Games Corp (SGMS), Ally Financial (ALLY), Texas Roadhouse (TXRH)
The markets are looking pretty ugly this morning so far, but they should recover in the afternoon! The good news is the unusual call buys are even more unusual when the markets are down. And we’ve picked up a few interesting call buys today. Four of the most unusual or large call buys today have been seen in Scientific Games Corp (NASDAQ:SGMS), Ally Financial Inc (NYSE:ALLY), and in Texas Roadhouse Inc (NASDAQ:TXRH).
Scientific Games Corp (NASDAQ:SGMS) saw some very unusual call buying today. A trader bought 2,975 April $15 calls this morning, paying 99 cents for the privilege. That’s a good sized bet for a little followed company. In fact it stands out like a sore thumb. That’s worth a total of almost $300,000. Clearly this guy (girl?) knows something about Scientific Games Corp (NASDAQ:SGMS) that the rest of us don’t, yet. Scientific Games Corp (NASDAQ:SGMS) announces earnings on November 10, but we’re guessing we’ll hear something far more interesting before that.
Ally Financial Inc (NYSE:ALLY) has had a tough year but one trader thinks things are about to change for the better. The trader bought 2,900 of the ALLY March $25 calls, paying $1.00 for them. That makes for a transaction value of almost $300,000.
Ally Financial Inc (NYSE:ALLY), is currently trading at $22.75 down 39 cents on the day on average volume. ALLY has a 52 week high of $27.90 and a low of $22.42 for the year. This trader thinks the bottom is in. We’d tend to agree, and so does someone else, as there have now been over 4600 of the March 25 calls traded today.
The third unusual call buy we saw was in Texas Roadhouse Inc (NASDAQ:TXRH). Not a large trade by any definition, but certainly an unusual call play in the restaurant chain. Early this morning, a trader bought 1,500 of the December $30 calls in TXRH. They paid 50 cents per contract on the trade. That makes for a small, yet strange bet on Texas Roadhouse Inc (NASDAQ:TXRH), worth $75,000. Like maybe the janitor heard something from the cleaning closet at corporate headquarters, strange.
Like most other stocks, Texas Roadhouse Inc (NASDAQ:TXRH) is trading down today, at $27.51, down 33 cents on the day. TXRH has a 52 week high of $29.07 and a low of $22.87. Not sure what would have set this off, but likely not an analyst upgrade as they would have bought more than that. Maybe some type of corporate event announcement coming soon.
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