SYS Research – Unusual Activity – Thursday, October 3, 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

SPY (SPDR S&P 500 ETF Trust)
Sentiment: Bullish
Options Activity: Two significant PUT sells expiring on 2025-01-17
Total Values: $1,758,410 and $1,670,210 respectively
Strike Price: 620
Expectations: This PUT selling suggests confidence in the ETF remaining above $620, a bullish signal.


QQQ (Invesco QQQ Trust)
Sentiment: Bullish
Options Activity: Significant PUT sell expiring on 2024-10-18
Total Values: $1,143,900
Strike Price: 510
Expectations: Bullish sentiment as large size trade exceeds prior open interest.


EQT Corporation (EQT)
Sentiment: Bullish
Options Activity: Put selling and call buying, including multi-sweep trades, with expirations on 2024-10-18, 2024-12-20, and 2025-01-17
Total Values: $68,908, $62,468, and $36,380 in call contracts; $26,460 and $15,810 in put contracts
Strike Price: 35.5 to 46
Expectations: The trader is positioning for a potential bullish move in EQT as evidenced by put selling and significant call buying across multiple strike prices and expirations.


DNN (Denison Mines Corp)
Sentiment: Bullish
Options Activity: Multiple CALL buys for 2024-11-15 expiration
Total Values: $54,030 and $37,320
Strike Price: 2
Expectations: Expectation of upside momentum in uranium sector.


NVDA (NVIDIA Corporation)
Sentiment: Bullish
Options Activity: Multiple CALL buys for both near-term (2024-10-18) and longer-term (2025-01-17)
Total Values: $1,060,000 and $1,593,400
Strike Price Range: 114 to 120
Expectations: Anticipating upside momentum in NVIDIA’s price, reflecting positive sentiment across both near and long-term horizons.


SMCI (Super Micro Computer, Inc.)
Sentiment: Bearish
Options Activity: PUT buys with significant volume exceeding prior open interest for both 2024-11-15 and 2025-01-17 expirations
Total Values: $3,870,000 and $5,335,000
Strike Price Range: 80 to 90
Expectations: Anticipates potential downside or consolidation after a strong run.


Celsius Holdings (CELH)
Sentiment: Bullish
Options Activity: Put selling with expirations on 2024-10-18 and 2025-01-17
Total Values: $6,885,400 and $6,248,000 in put contracts
Strike Price: 65 and 70
Expectations: The large volume of put selling suggests that traders are highly confident CELH will remain above the strike prices of $65 and $70, or even move higher. When deep-pocketed traders sell puts, they are essentially betting that the stock price will not fall below the strike price by expiration, as they would be obligated to buy the stock at that level if it does. This type of activity reflects bullish sentiment, as the seller expects the stock to hold or rise, allowing them to collect premiums without taking ownership of shares.


TLT (iShares 20+ Year Treasury Bond ETF)
Sentiment: Bearish
Options Activity: PUT buy expiring on 2024-10-07
Total Values: $1,316,700
Strike Price: 97
Expectations: Anticipation of downside pressure on long-term treasuries, indicating bearish sentiment.


IWM (iShares Russell 2000 ETF)
Sentiment: Bullish
Options Activity: CALL buy expiring on 2024-11-15
Total Values: $958,021
Strike Price: 225
Expectations: The trader is positioning for potential strength in small-cap stocks in the upcoming months.


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

Southwest Airlines Co (LUV)
Buyer: Rakesh Gangwal (Non-Executive Director)
Shares Purchased: 183,006 (+5.5%)
Price: USD 29.99
Total Value: USD 5,488,350

US Insider Sales

Axon Enterprise Inc (AAXN)
Seller: Patrick W. Smith (Chief Executive Officer)
Shares Sold: 49,896 (-1.7%)
Price: USD 403.44
Total Value: USD 20,130,262

Bank of America Corp (BAC)
Seller: Berkshire Hathaway Inc (Large Shareholder)
Shares Sold: 1,839,871 (-0.2%)
Price: USD 39.40
Total Value: USD 72,489,813

Netflix Inc (NFLX)
Seller: Reed Hastings (Executive Chairman)
Shares Sold: 7,939 (-31.9%)
Price: USD 705.97
Total Value: USD 5,604,715

Credo Technology Group Holding Ltd (CRDO)
Seller: Lip Bu Tan (Non-Executive Director)
Shares Sold: 150,000 (-5.4%)
Price: USD 30.50
Total Value: USD 4,574,760

Alphabet Inc (GOOGL)
Seller: Sundar Pichai (Chief Executive Officer)
Shares Sold: 17,067 (-0.8%)
Price: USD 166.88
Total Value: USD 2,848,057


CDN Insider Purchases

Adamera Minerals Corp (ADZ)
Buyer: Mark Robert Kolebaba (Non-Executive Director)
Shares Purchased: 325,000 (+58.8%)
Price: CAD 0.15
Total Value: CAD 48,750

Adamera Minerals Corp (ADZ)
Buyer: Christopher Herald (Non-Executive Director)
Shares Purchased: 66,667 (+666.7%)
Price: CAD 0.15
Total Value: CAD 10,000

Adamera Minerals Corp (ADZ)
Buyer: Mark Thomas Brown (Senior Officer)
Shares Purchased: 100,000 (+60.6%)
Price: CAD 0.15
Total Value: CAD 15,000

Camac Partners, LLC (GRZ)
Buyer: Camac Partners, LLC (Large Shareholder)
Shares Purchased: 180,000 (+1.9%)
Price: USD 1.92
Total Value: USD 345,006

Camac Partners, LLC (GRZ)
Buyer: Camac Partners, LLC (Large Shareholder)
Shares Purchased: 29,000 (+0.3%)
Price: USD 1.90
Total Value: USD 55,100

Geomega Resources Inc (GMA)
Buyer: Kosta Kostic (Non-Executive Director)
Shares Purchased: 50,000 (+13.0%)
Price: CAD 0.09
Total Value: CAD 4,500

CDN Insider Sales

Pyrogenesis Canada Inc (PYR)
Seller: Photis Peter Pascali (Executive Director, Large Shareholder)
Shares Sold: 41,300 (-5.2%)
Price: CAD 0.89
Total Value: CAD 36,757

Progressive Planet Solutions Inc (PLAN)
Seller: Stephen Kenneth Harpur (Executive Director)
Shares Sold: 5,000 (-0.4%)
Price: CAD 0.16
Total Value: CAD 800


Institutional Spotlight: Uber Technologies

Uber Technologies, Inc. (UBER) has attracted notable interest from institutional investors. With 2,907 institutional owners, including 2,825 long-only positions, Uber’s stock is widely held among large funds and asset managers. Total institutional shares (long) now stand at 2.01 billion, representing 95.87% of Uber’s outstanding shares, a 2.24% increase from the previous quarter.

Among the most significant changes this quarter is the activity from Ken Griffin’s Citadel Advisors LLC, which increased its holdings in Uber. Citadel, known for its aggressive trading and investment strategies, has made a substantial addition to its position, signaling strong confidence in Uber’s future. Similarly, Dan Loeb’s Third Point LLC increased its stake by 2.10 million shares, valued at $152.63 million, raising Uber’s weight in its portfolio by 1.2563%.

Other institutional investors, such as Millennium Management LLC, have also significantly increased their positions in Uber, reflecting a broad positive sentiment from hedge funds. Vanguard Group Inc., BlackRock Inc., and JPMorgan Chase & Co. made moderate increases in their holdings, maintaining their significant stakes in Uber.

In summary, Uber continues to draw substantial interest from prominent hedge funds and asset managers, including Ken Griffin’s Citadel Advisors and Dan Loeb’s Third Point LLC, both of which significantly boosted their holdings this quarter. These moves, coupled with Uber’s strong stock performance, reflect broad confidence in the company’s potential for future growth.


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

ACST, AES, AGNC, AGX, AHCO, AORT, AR, AVAV, AXP, BABA, BBAR, BCO, BEKE, BIDU, BILI, BLDR, BMTX, BMY, BNTC, BZ, BZUN, CARG, CHCI, CHWY, CLMT, COMP, CRS, CZR, DCTH, DT, DX, EDR, EE, ESTA, FAX, FN, FTK, FUTU, FXI, GCI, GDS, GERN, GLBE, GLNG, GOOGL, GPI, GTES, HEAR, HOOD, HWKN, IHD, ITRI, JCI, JD, JPI, JXN, KEX, KGS, KR, KWEB, LE, LMAT, LMT, LOAN, LSB, LSPD, LVS, MAR, MGEE, MGNI, MP, MTCH, NCMI, OBT, ODD, PDD, PHG, PHM, PPC, PRIM, QFIN, QTWO, RDW, RKLB, RM, RZLT, SNY, T, TDS, TG, TMDX, TOST, TPX, TRDA, TRMB, TRN, TRVI, TSLA, UAA, UNIT, USLM, VNET, WGS, WULF, WVE, WWW, WYNN, XLU, ZIM

 

Canadian Institutional Momentum Watchlist

ACB.TO, ACO/X.TO, AD/UN.TO, ADEN.TO, AFN.TO, AGF/B.TO, AIM.TO, AP/UN.TO, AQN.TO, ARE.TO, ATRL.TO, BAM.TO, BBD/B.TO, BCE.TO, BDI.TO, BDT.TO, BEPC.TO, BN.TO, CAE.TO, CAS.TO, CCA.TO, CCO.TO, CF.TO, CHP/UN.TO, CIX.TO, CP.TO, CTC/A.TO, DBM.TO, DNTL.TO, DOO.TO, DXT.TO, ECN.TO, EFX.TO, EMA.TO, ENB.TO, EXE.TO, FFH.TO, FN.TO, FRU.TO, FSZ.TO, FTS.TO, GEI.TO, GLXY.TO, GOOS.TO, H.TO, HRX.TO, IFC.TO, IFP.TO, III.TO, KPT.TO, LB.TO, LSPD.TO, LUC.TO, MFC.TO, MG.TO, MTY.TO, NEO.TO, NOU.V, NPI.TO, NVEI.TO, NWH/UN.TO, PBH.TO, PIF.TO, PNE.TO, PPL.TO, PRMW.TO, QBR/B.TO, RCI/B.TO, REI/UN.TO, RY.TO, T.TO, TD.TO, TOT.TO, TOU.TO, WFG.TO, WPK.TO, WRN.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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