There were many unusual options trades on Thursday December 15, but we’ve got two of the most interesting ones. The two options plays that really stood out were in Oclaro, Inc (OCLR) and Newfield Exploration Co. (NFX).
First up was an aggressive buyer of calls in Oclaro, Inc (OCLR) Thursday. One trader seems to expect great things for OCLR share price in the coming month. The trader placed a little $188,ooo bet in the OCLR JAN17 $9.00 calls which accounted for over twice the normal volume. The trader bought 3761 of those Jan $9 calls at 50 cents.
During Thursday trading Oclaro, Inc (OCLR) shares traded in a range of $8.21 to $8.82 and closed at $8.62, up 37 cents or 4.5%. Things are looking good for the trader with the insider crystal ball this morning with OCLR up 17 cents in after market trading to $8.79.
Still no news out on this stock but you rest assured there will be something. Oclaro, Inc announces Q2 earnings on January 30th which means this OCLR options action isn’t earnings related.
And like Wednesday’s energy sector action in Cliffs, Thursdays action saw Newfield Exploration Co. (NFX) in play on Thursday. One trader thinks the market is wrong and bought 1,000 NFX Mar17 calls at the ask of $4.20. That’s a nice sized be on NFX of $420,000.
Yesterday, Newfield Exploration Co. traded in a good sized range of $44.58 to $45.31, closing the day down 76 cents at $45.12. That’s a drop of 1.66% on the day which makes it all the more interesting that one trader decided to drop $420,000 on a call option bet with a March expiration. Newfield Exploration Co.(NFX) reports Q4 earnings on February 21 so maybe this is a play on better than expected earnings, but you never know until the news hits the wires.
We’ll be sure to update any developments on these very unusual call buys in Newfield Exploration Co. (NFX) and in Oclaro, Inc (OCLR), if, or more likely, when, they happen.