SYS Research – Unusual Activity – Thursday, November 7, 2024

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Unusual Activity Report

This daily report focuses on three key components that can lead to market momentum: unusual options activity, insider buying, and institutional sponsorship. By scanning for these signals each day, we uncover potential stock movements driven by notable trades, insider transactions, and institutional investments. Using advanced algorithms and proprietary research methods, we sift through vast amounts of data to identify unique opportunities, offering timely insights highlighting emerging market momentum.

Disclaimer: All data and information presented in this report are sourced from publicly available materials intended for informational purposes only. The content is not a recommendation to buy or sell securities and should not be relied upon as financial advice. Readers are encouraged to conduct their own research before making any investment decisions.


Standout Options Trades

This section highlights notable options trades reflecting significant sentiment—bullish, bearish, or mixed—characterized by high-dollar-value transactions or large trade sizes exceeding prior open interest. When open interest rises from the previous day, it often indicates the creation of new positions rather than the closing of existing ones, suggesting a fresh outlook on the underlying stock or ETF.

For instance, call buying generally signals an expectation of upward movement, while selling calls suggest the trader anticipates the price will stay below a certain level. Put selling reflects confidence that the price will hold above the strike, implying stability. In contrast, put buying may reveal a bearish outlook or serve as a hedge against a larger bullish position elsewhere.

Disclaimer: This report highlights large, unusual options trades identified for their size and potential impact, representing individual sentiment rather than broad market consensus. These trades are informational and are not intended as buy or sell signals. They reflect noteworthy activity observed during the trading day and should be viewed as one part of a broader analysis.

iShares Russell 2000 ETF (IWM)
Sentiment: Bullish
Options Activity: Sell PUT
Total Values: 15,180 contracts traded, premium of $1,179,000
Strike Price: $230, spot price $236.71
Expectations: Anticipates support levels may hold above the strike, with possible limited downside or stability in underlying.
Market View: Indicates traders may be betting on price stability above the strike near term, possibly seeking income via premium collection.


Planet Fitness, Inc. (PLNT)
Sentiment: Bullish
Options Activity: Buy CALL
Total Values: 119 contracts traded, premium of $648,960
Strike Price: $100, spot price $92.8082
Expectations: Post-earnings buying activity implies potential upside movement or closing out a prior bearish position.
Market View: Market participants may be buying back calls they previously sold or expect further gains following the earnings reaction.


Consumer Staples Select Sector SPDR Fund (XLP)
Sentiment: Bearish
Options Activity: Buy PUT
Total Values: 2,214 contracts traded, premium totaling $4,003,000
Strike Price: $87, spot price $79.88
Expectations: Elevated activity reflects concern of potential downside risk or hedging against weakness in the sector.
Market View: Bearish stance suggests traders see a risk of declining performance in consumer staples, possibly tied to economic headwinds.


iShares 20+ Year Treasury Bond ETF (TLT)
Sentiment: Bullish
Options Activity: Sell PUT
Total Values: 65,363 contracts traded, premium totaling $12,775,000
Strike Price: Various strikes ($97-$100), spot price $91.22
Expectations: Selling PUTs indicates expectations of bond prices stabilizing or limited downside risk in the TLT, particularly near-term. The price of bonds moves inversely to the yield.
Market View: This selling suggests a strategy to capture premium, assuming bond prices will stay above key strike levels amid bond market dynamics. This comes as the Federal Reserve announced a 25 basis point rate cut. Since the TLT tracks the price of long-term bonds, a rise in the TLT indicates increasing bond prices and, consequently, falling interest rates. Suppose the TLT establishes a bottom and moves higher. In that case, it may signal a shift towards lower interest rates, which can be supportive for stocks by reducing borrowing costs and enhancing equity appeal. Monitoring TLT’s price movements, volume, and broader market trends will be crucial for gauging its impact on investor sentiment.


Tesla, Inc. (TSLA)
Sentiment: Mixed (Bearish Sell CALLs, Bullish Buy CALLs)
Options Activity: Net selling of CALLs near $275 and spot around $296
Total Values: Significant activity across multiple trades with substantial premiums
Strike Price: $275 strike with mixed activity; spot price $296.861
Expectations: Mixed sentiment implies divergence on near-term price direction, possible price containment, or hedging strategies at key resistance levels.
Market View: Selling suggests some anticipate containment or stall near $275, while buying may hint at continuation attempts beyond spot range.


Arista Networks, Inc. (ANET)
Sentiment: Bullish
Options Activity: Buy CALL
Total Values: 965 contracts traded, premium of $1,820,000
Strike Price: $380, spot price $430.61
Expectations: Pre-earnings buying indicates potential anticipation of positive moves or earnings optimism.
Market View: Suggests potential bullish sentiment ahead of earnings, with upside potential anticipated.


NVIDIA (NVDA) Sentiment: Mixed – Predominantly bullish call buying, with some notable put activity.
Options Activity: Heavy call buying for multiple expirations and high strike puts bought.
Total Values: Key trades include $1,663,500 call buy, $1,317,500 put buy.
Strike Price: Call – $100, $125, $135; Put – $106, $71.
Expectations: High demand for calls suggests further strength; puts may be hedging.
Market View: Expectation of continued volatility with potential bullish trend dominance.


CorMedix (CRMD) Sentiment: Bullish
Options Activity: Call buying with expiration in 2025.
Total Values: $746,250 call buy at strike $3.
Strike Price: $3
Expectations: Likely speculative position, emphasizing high upside potential.
Market View: Speculative interest, significant activity for future price movement.


United States Oil Fund LP (USO) Sentiment: Bearish
Options Activity: Large put buy at strike $70.
Total Values: $715,000 put buy for mid-year 2025 expiration.
Strike Price: $70
Expectations: Anticipates weakness in underlying commodity prices or hedging.
Market View: Bearish near- to mid-term outlook or downside protection.


Tesla (TSLA) Sentiment: Mixed – Heavy call selling for nearby expirations, consistent call buying further out.
Options Activity: There was large activity in 2024 calls; notable puts were bought for protection.
Total Values: Over $6 million in prominent call trades.
Strike Price: $295, $300
Expectations: Immediate-term bearish with underlying high-volume positioning for neutral to negative returns; longer horizon indicates potential for recovery or hedging.
Market View: Sentiment reflects current volatility but a broader market view.


Insider Transactions

Each day, insider transactions provide insights into the movements of key executives and shareholders within various companies. These transactions can signal confidence in future performance or a need to liquidate holdings. Today’s report identified the most significant insider purchases and sales, highlighting influential figures and companies that made notable moves.  Let’s take a look at some of today’s standout transactions.

US Insider Purchases

Dakota Gold Corp (DC)
Buyer: Robert Quartermain (President and CEO)
Shares Purchased: 20,000 (+0.3%)
Price: USD 2.47
Total Value: USD 49,400

New Peoples Bankshares Inc (NWPP)
Buyer: Blaine Scott White (Non-Executive Director, Large shareholder)
Shares Purchased: 124,754 (+9.5%)
Price: USD 2.66
Total Value: USD 331,846

US Insider Sales

Jefferies Financial Group Inc (JEF)
Seller: Brian P. Friedman (President)
Shares Sold: 349,298 (-21.4%)
Price: USD 72.15
Total Value: USD 25,202,689

Church & Dwight Co Inc (CHD)
Seller: Matthew Farrell (President and CEO)
Shares Sold: 160,473 (-58.7%)
Price: USD 103.84
Total Value: USD 16,663,340

UTZ Brands Inc (UTZ)
Seller: CC Collier Holdings, LLC
Shares Sold: 2,815,404 (-85.0%)
Price: USD 17.29
Total Value: USD 48,678,335

Fox Corp (FOXA)
Seller: Keith Rupert Murdoch (Chairman Emeritus)
Shares Sold: 100,000 (-7.4%)
Price: USD 42.05
Total Value: USD 4,205,000

St. Joe Co (JOE)
Seller: Bruce R. Berkowitz (Large shareholder)
Shares Sold: 343,400 (-1.9%)
Price: USD 53.45
Total Value: USD 18,354,730

NVR Inc (NVR)
Seller: Matthew B. Kelpy (VP, Chief Accounting Officer)
Shares Sold: 400 (-65.8%)
Price: USD 9,450.00
Total Value: USD 3,780,000


CDN Insider Purchases

Caribbean Utilities Company, Ltd. (CUP.U)
Buyer: Fortis Inc. (10% Security Holder of Issuer)
Shares Purchased: 3,147,201 (+14.2%)
Price: USD 13.41
Total Value: USD 42,203,965

Uniserve Communications Corporation (USS)
Buyer: Scholz, Michael Curt (10% Security Holder of Issuer)
Shares Purchased: 1,726,000
Price: CAD 0.08
Total Value: CAD 129,450

Canadian National Railway Co (CNR)
Buyer: dePass Olsovsky, Josephine Ann Marie (Director of Issuer)
Shares Purchased: 1,786 (+41.0%)
Price: USD 112.27
Total Value: USD 200,505

Agnico Eagle Mines Ltd (AEM)
Buyer: Smith, David Glenson (Director of Issuer)
Shares Purchased: 20,000 (+50.0%)
Price: CAD 8.81
Total Value: CAD 176,160

Hammond Power Solutions Inc (HPS.A)
Buyer: GRANOVSKY, DAHRA (Director of Issuer)
Shares Purchased: 1,500 (+297.6%)
Price: CAD 117.03
Total Value: CAD 175,538

CDN Insider Sales

Celestica Inc (CLS)
Seller: Mionis, Robert Andrew (Director of Issuer, Senior Officer of Issuer)
Shares Sold: 60,000 (-10.1%)
Price: USD 79.80
Total Value: USD 4,788,060

Agnico Eagle Mines Ltd (AEM)
Seller: Boyd, Sean (Director of Issuer, Senior Officer of Issuer)
Shares Sold: 15,000 (-11.3%)
Price: CAD 118.67
Total Value: CAD 1,780,050

Gildan Activewear Inc (GIL)
Seller: De Haan, Jason (Senior Officer of Issuer)
Shares Sold: 15,000 (-88.7%)
Price: USD 50.25
Total Value: USD 753,753

Sol Strategies Inc. (formerly, Cypherpunk Holdings Inc.) (SOL)
Seller: Guoga, Antanas (Tony) (Director of Issuer, Senior Officer of Issuer)
Shares Sold: 703,000 (-1.4%)
Price: CAD 1.18
Total Value: CAD 827,431

Open Text Corp (OTEX)
Seller: Barrenechea, Mark James (Director of Issuer, Senior Officer of Issuer)
Shares Sold: 60,536 (-4.7%)
Price: USD 28.97
Total Value: USD 1,753,849


Institutional Spotlight: Key Institutional Moves for November 7, 2024

Recent institutional activity underscores significant stakes taken by major asset managers, reflecting strategic positions across diverse sectors. First Light Asset Management LLC, led by Matt Arens, acquired a substantial 4,364,858 shares in AXGN, achieving a 9.96% ownership stake. This commitment signals a vote of confidence in AXGN’s potential, suggesting optimism in its long-term growth prospects.

Meanwhile, Sands Capital Management LLC, under Frank Sands, made a significant move by securing 3,143,050 shares in IRTC, amounting to exactly 10% ownership. Sands’ investment could indicate a positive outlook on IRTC’s future, particularly in light of their active presence in the healthcare sector.

In another noteworthy acquisition, Clearfield Capital Management LP, managed by Philip Hilal, expanded its portfolio with a 5.60% stake in APLD, accumulating 12,061,864 shares. This substantial position may imply confidence in the company’s fundamentals and market trajectory.

Furthermore, AQR Capital Management LLC, led by Clifford Asness, made two significant acquisitions: a 10.07% ownership in OACCU with 1,992,375 shares and an 11.23% ownership in BEAGU with 2,846,250 shares. These moves showcase AQR’s diversified strategy, potentially targeting both stability and growth across different market areas.

Boothbay Fund Management LLC, managed by Ari Glass, secured a 5.40% stake in YHNAU with 433,000 shares. Additionally, Trigran Investments Inc, led by Douglas Granat, acquired 7,690,369 shares in MDXG, representing a 5.20% ownership position. Both investments highlight a careful selection of companies with potential upside, signaling confidence in their performance.

These institutional positions highlight a diversified strategy, with each investment reflecting the individual firm’s focus areas and outlook on future performance.


Institutional Momentum Watchlists

Welcome to the Institutional Momentum Watchlist, an exclusive feature for our members. This list highlights stocks that have recently caught the attention of institutional investors, either through new purchases or significant additions. These stocks are selected based on promising technical setups that suggest potential momentum. Our systematic approach filters for opportunities where institutional sponsorship aligns with favorable technical conditions, offering a unique edge in your trading strategy. Keep an eye on this watchlist as we update it each weekend with the latest insights from the market.

Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.

US Institutional Momentum Watchlist

EXPORT – US – Institutional – 2024-11-01

AGX, AMZN, ANET, APH, AVT, AXNX, AY, BDC, BKNG, BLCO, BLK, BNTC, BV, BX, CACI, CART, CBSH, CBU, CCK, CEE, CLM, CLS, CNK, CNTX, COMP, CRDO, CRH, DAL, DOCS, DOCU, DORM, DUOL, ELDN, EME, ENVA, EOLS, ETN, EWTX, EZPW, FIX, FNGS, FTAI, FWONK, GILD, GLW, GM, GMED, GTES, HCP, HLMN, HLT, HPE, IBKR, IESC, INOD, IP, IPI, ISRG, ITRI, JHG, JPI, JPM, KMPR, KVYO, LAZ, LITE, MA, MD, MNDY, MNKD, MRVL, MTSI, MTZ, MWA, NBXG, NCNO, NDAQ, NFLX, NN, NNI, NOW, NVDA, OSW, PFS, PLXS, POWL, PPC, PRIM, PSN, PTGX, QTWO, RDW, REPL, ROAD, RSI, RVMD, RZLT, SANM, SATX, SE, SFM, SFNC, SLNO, SMTC, SNDR, SWI, TARS, TGTX, THRD, TOST, TPC, TSM, UAL, UTHR, VCTR, VERX, VUG, WMT, XLF, YOU, YPF, ZBRA, ZIM, ZWS

 

Canadian Institutional Momentum Watchlist

EXPORT – CDN – Institutional – 2024-11-01

AAUC.TO, AC.TO, AGF/B.TO, ARE.TO, ARG.TO, ATRL.TO, ATZ.TO, BAM.TO, BBD/B.TO, BDT.TO, BNS.TO, CAS.TO, CEU.TO, CFP.TO, CIX.TO, CLS.TO, CM.TO, DCBO.TO, DNG.TO, DNTL.TO, DOL.TO, DSG.TO, ECN.TO, EFX.TO, ENB.TO, FFH.TO, FM.TO, FSZ.TO, FURY.TO, HBM.TO, HITI.V, IAG.TO, IFC.TO, IFP.TO, IGM.TO, KEY.TO, L.TO, LAC.TO, MDA.TO, MG.TO, MTL.TO, NEO.TO, NOA.TO, NVEI.TO, NWC.TO, ONEX.TO, OR.TO, POW.TO, PZA.TO, SES.TO, SLF.TO, SSL.TO, STLC.TO, STN.TO, SXP.TO, TOT.TO, TRI.TO, TVE.TO, TVK.TO, TXG.TO, VHI.TO, WN.TO, WSP.TO

 

To conclude our report, we thank you for your engagement and insights. Your feedback is valuable, and we encourage you to share your recommendations. Stay attentive to the Daily Setups, the Workspace, and the Watchlists for emerging opportunities. Additionally, explore the PDFs of the scanner results provided in the Daily Setups report. Until next time, happy trading!

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