Unusual Call Option Buys: Deutsche Bank (DB), Credit Suisse Group AG (CS), Michaels Companies (MIK), TrueCar Inc. (TRUE)

Tuesday was busy day in the unusual options buying, seeing a frenzy of late day unusual large call buys after days of put buying.  Four of the most interesting call buys were seen in shares of Deutsche Bank (DB), Credit Suisse Group AG (CS), Michaels Companies (MIK), and TrueCar Inc. (TRUE).

Deutsche Bank (NYSE:DB)saw a smart money trader buy 5,000 Feb 2015 $30 calls around 3 pm yesterday.  Clearly this guy knows that DB is going to be going much higher.  What’s interesting is there was also increased action in other financial call options as well, including BAC, CS and JPM.

Speaking of Credit Suisse Group (NYSE:CS), CS also saw some unusual late day call buying. This time, a trader in the know bought a whopping 10,000 of the March $25 calls, paying 75 cents each.  That’s a nice $750,000 options bet.  That buy happened a little before 3pm yesterday.  CS was down (who wasn’t) but finished the day well off it’s low.

Michaels Companies (NASDAQ:MIK) saw some strange call buying as well.  Strange, not only in volume but strange in the fact I thought no one shopped at Michaels??  At least one trader believes someone shops at Michaels stores, as they bought up a nice round number of 4783 January $25 calls in MIK, right near the close yesterday.   They paid 30 cents for that privilege.  That’s a $143,000 bet on a company I thought was dead.  I’m kidding, Michaels is actually pretty profitable!  Who knew?  Not me.

Michaels Companies rallied very nicely into the close, and actually finished up on the day, at $23.91.


The last unusual call buy was seen in little known TrueCar Inc. (Nasdaq:TRUE).  The car buying website saw a confident call buyer come in and drive away with some TRUE call options twice on Tuesday.

First, someone bought a 686 TRUE February $22.50 calls at $1.70 for a total bet value of over $116,000.  This was around 2:30 pm Tuesday.  Then another drive by at 3:15 or so, when a trader bought up another 766 of the Feb $22.50 calls for $2.00 this time.  But wait, there’s more!  A third call buy came in right before the close for 874 TRUE Feb 22.50 calls at $2.10.  Now that’s what we call unusual AND interesting!

Clearly something is up with TrueCar.  What it is, we don’t know.  But these drive buy call buyers certainly know!