SYS Research – Unusual Activity – Tuesday, November 26, 2024

Notice: The Unusual Activity report is provided for informational and educational purposes only and is not intended to be used as a stock-picking service or as financial advice. The charts and accompanying research are designed to support your analysis, serving as indicators rather than direct recommendations to buy or sell any security. The creator assumes no responsibility for actions taken by readers and strongly encourages individuals to fully understand the associated risks and potential outcomes before making investment decisions. Please note that any charts and/or information are intended to aid in research and should not be considered a definitive part of your personal trading strategy. Not all charts will lead to actionable buy or sell signals at any given time. Individuals should consider consulting a qualified financial advisor before making any investment decisions.

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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.

Note: 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 Bitcoin Trust ETF (IBIT)
Sentiment: Bullish
Options Activity: A series of significant trades involving both puts and calls was observed with in open interest:

  • Puts Sold: 10,934 contracts of the February 21, 2025, $45 strike, with a total premium collected of $3,562,500.
  • Calls Bought:
    • December 6, 2024, $56.50 strike: 423 contracts purchased for $837,500.
    • February 21, 2025, $45 strike:
      • Block 1: 361 contracts for $549,150.
      • Block 2: 361 contracts for $13,075,000.
      • Split trade: 361 contracts for $13,624,200.
        Strike Price:
  • Puts Sold: $45, trading at a -12.84% discount to the spot price of $51.63.
  • Calls Bought:
    • $56.50 strike calls: Trading at a 9.43% premium to the spot price.
    • $45 strike calls: Trading at a -13.22% discount to the spot price.
      Expectations: The high volume of call buying, particularly the deep in-the-money February 2025 $45 strike, indicates institutional confidence in upward momentum for IBIT in the coming months. The put sale at the $45 strike further supports a bullish stance, signaling expectations of stability above this level.
      Market View: Monitor for upside momentum in IBIT, as traders appear to be positioning for potential bullish moves. The mix of short-term (December 6, 2024) and longer-term (February 21, 2025) call activity reflects expectations of near-term price action followed by continued gains or stability through early 2025.

Citigroup Inc. (C)
Sentiment: Bullish
Options Activity: Calls bought totaled $19,702,614, vastly outweighing $238,767 in calls sold. Puts bought were $1,452,004, with $2,585,871 in puts sold.
Total Values: Net premium of $20,597,714 highlights institutional interest in upward price momentum.
Expectations: High call-buying activity signals optimism for upward price movement in the near term.


Amazon.com, Inc. (AMZN)
Sentiment: Bullish
Options Activity: $27,961,431 in calls bought versus $13,246,145 in calls sold. Puts bought totaled $2,695,312, and $2,615,461 in puts were sold.
Total Values: Net premium of $14,635,435.
Expectations: Institutions appear to anticipate a potential breakout or sustained upside for AMZN, with strong call-buying activity dominating the flow.


Danaher Corporation (DHR)
Sentiment: Bearish
Options Activity: No calls were traded. Puts bought totaled $4,568,760, significantly higher than $12,482,320 in puts sold.
Total Values: Net premium of $7,913,560 dominated by put activity.
Expectations: The focus on puts indicates cautious sentiment, with traders hedging or positioning for downside.


Micron Technology, Inc. (MU)
Sentiment: Bullish
Options Activity: $2,682,125 in calls bought exceeded $501,695 in calls sold. Put activity included $496,960 bought and $5,093,146 sold.
Total Values: Net premium of $6,776,616.
Expectations: Robust put selling alongside call-buying suggests strong confidence in upward price movement for MU.


SPDR S&P 500 ETF (SPY)
Sentiment: Bullish
Options Activity: $2,729,760 in call premiums bought for December 6, 2024, at the $545 strike, alongside $1,695,600 for January 31, 2025, at the $590 strike.
Total Values: Net premium of $4,425,360 driven by significant call-buying activity.
Expectations: The trades suggest strong institutional confidence in continued upside momentum for SPY within the near term.


Alphabet Inc. (GOOG)
Sentiment: Bearish
Options Activity: $1,387,600 in put premiums bought for November 29, 2024, at the $180 strike, with an additional $886,600 bought at the $177.5 strike.
Total Values: Net premium of $2,274,200 dominated by put-buying activity.
Expectations: Heavy put buying reflects institutional concerns about potential downside risks or hedging ahead of expiration.


iShares iBoxx $ High Yield Corporate Bond ETF (HYG)
Sentiment: Bearish
Options Activity: $510,000 in put premiums bought at the $79 strike for March 21, 2025.
Total Values: Net premium of $510,000.
Expectations: The activity reflects caution or hedging against broader market uncertainty, with a focus on downside risk.


Amazon.com Inc. (AMZN)
Sentiment: Bullish
Options Activity: $815,150 in call premiums bought at the $210 strike, expiring March 21, 2025.
Total Values: Net premium of $815,150.
Expectations: Institutions appear confident in AMZN’s potential for upward price movement, aligning with broader strength in tech.


DraftKings Inc. (DKNG)
Sentiment: Bullish
Options Activity: $310,902 in call premiums bought at the $42 strike for January 17, 2025.
Total Values: Net premium of $310,902.
Expectations: Significant call-buying activity reflects optimism for continued upward momentum in DKNG’s stock price.


Intel Corporation (INTC)
Sentiment: Bearish
Options Activity: $722,000 in call premiums sold at the $28 strike for January 16, 2026.
Total Values: Net premium of $722,000 dominated by call-selling activity.
Expectations: Institutional traders appear to anticipate limited upside for INTC over the long term.


Peloton Interactive (PTON)
Sentiment: Bullish
Options Activity: Call buying activity was observed, with a January 17, 2025 expiration and a strike price of $6.
Total Values: Premium of $210,000 was paid for 11,405 contracts.
Strike Price: $6, compared to a spot price of $10.055 (-40.33% difference).
Expectations: The trade suggests optimism for a potential recovery in Peloton’s share price by early 2025.


Home Depot (HD)
Sentiment: Neutral to Bearish
Options Activity: Call selling with a February 21, 2025 expiration and a strike price of $460.
Total Values: Premium of $2,385,000 was collected for 2,138 contracts.
Strike Price: $460, compared to a spot price of $425.53 (+8.10% difference).
Expectations: Sellers anticipate HD will remain below $460, aligning with a cautious outlook.


Joby Aviation (JOBY)
Sentiment: Bullish
Options Activity: Put selling with an April 17, 2025 expiration and a strike price of $7.
Total Values: Premium of $232,129 was collected for 1,730 contracts.
Strike Price: $7, compared to a spot price of $7.995 (-12.45% difference).
Expectations: This activity suggests confidence that Joby’s stock will remain above $7.


iShares MSCI Hong Kong ETF (EWH)
Sentiment: Bullish
Options Activity: Call buying with a June 20, 2025 expiration and a strike price of $19.
Total Values: Premium of $50,949 was paid for 225 contracts.
Strike Price: $19, compared to a spot price of $16.945 (+12.13% difference).
Expectations: Traders are optimistic about an upward trend in Hong Kong markets over the long term.


JD.com (JD)
Sentiment: Bearish
Options Activity: Put buying with a March 21, 2025 expiration and a strike price of $33.
Total Values: Premium of $1,118,250 was paid for 1,314 contracts.
Strike Price: $33, compared to a spot price of $35.355 (-6.66% difference).
Expectations: The activity indicates a pessimistic outlook or hedging into early 2025.


Marathon Digital Holdings (MARA)
Sentiment: Mixed
Options Activity: Both call buying and selling observed for a December 20, 2024 expiration with a strike price of $32.
Total Values: Premiums of $4,515,220 (selling) and $1,599,370 (buying) across multiple contracts.
Strike Price: $32, compared to a spot price range around $27.435 to $27.475 (~16% difference).
Expectations: The mixed sentiment indicates conflicting views on MARA’s price movement, though sellers seem to dominate.


Amgen (AMGN)
Sentiment: Bullish
Options Activity: Put selling with a February 21, 2025 expiration and a strike price of $235.
Total Values: Premium of $1,662,220 was collected for 6 contracts.
Strike Price: $235, compared to a spot price of $263.38 (-10.78% difference).
Expectations: Sellers are confident that Amgen’s stock will stay above $235.


Plug Power (PLUG)
Sentiment: Bullish
Options Activity: Call buying with an April 17, 2025 expiration and a strike price of $2.
Total Values: Premium of $39,984 was paid for 3,026 contracts.
Strike Price: $2, compared to a spot price of $2.115 (-5.44% difference).
Expectations: The trade signals bullish sentiment on PLUG’s stock price leading into mid-2025.


NIO Inc. (NIO)
Sentiment: Bearish
Options Activity: Put buying with an April 17, 2025 expiration and a strike price of $4.
Total Values: Premium of $93,138 was paid for 27,519 contracts.
Strike Price: $4, compared to a spot price of $4.365 (-8.36% difference).
Expectations: Traders appear to be hedging or expecting downside in NIO’s stock price by mid-2025.


PDD Holdings Inc. (PDD)
Sentiment: Bearish
Options Activity: Call premiums bought totaled $2,413,424 versus $701,000 sold. Puts saw $12,554,040 bought against $15,680,500 sold.
Total Values: Net premium of $4,838,884.
Expectations: The substantial put buying, despite selling activity, reflects concerns over downside risk for PDD.


Cintas Corporation (CTAS)
Sentiment: Bullish
Options Activity: $4,372,500 in call premiums bought with no significant put activity recorded.
Total Values: Net premium of $4,372,500.
Expectations: Strong call-buying activity reflects a bullish outlook for CTAS.


Johnson & Johnson (JNJ)
Sentiment: Mixed
Options Activity: $43,800 in calls bought matched by $45,286 sold. Minimal put activity was observed, with $3,961,675 in put selling dominating.
Total Values: Net premium of $3,960,189.
Expectations: The high level of put selling reflects confidence in price stability, though overall sentiment remains neutral.


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

CVR Partners LP (UAN)
Buyer: Carl C. Icahn (Large Shareholder)
Shares Purchased: 13,315 (+10.4%)
Price: USD 70.72
Total Value: USD 941,637

CVR Partners LP (UAN)
Buyer: Carl C. Icahn (Large Shareholder)
Shares Purchased: 10,000 (+8.4%)
Price: USD 71.55
Total Value: USD 715,500

i3 Verticals Inc (IIIV)
Buyer: Gregory S. Daily (Chief Executive Officer)
Shares Purchased: 40,000 (+82.4%)
Price: USD 24.06
Total Value: USD 962,400

Hudson Pacific Properties Inc (HPP)
Buyer: Victor J. Coleman (Chief Executive Officer)
Shares Purchased: 50,000 (+12.9%)
Price: USD 3.53
Total Value: USD 176,500

Aptose Biosciences Inc (APS)
Buyer: William G. Rice (Chair, President & CEO)
Shares Purchased: 100,000 (+19.5%)
Price: USD 0.20
Total Value: USD 20,000

ThredUp Inc (TDUP)
Buyer: Daniel J. Nova (Non-Executive Director)
Shares Purchased: 35,000 (+14.3%)
Price: USD 1.62
Total Value: USD 56,644

Lexeo Therapeutics Inc (LXEO)
Buyer: Paula H. Cholmondeley (Non-Executive Director)
Shares Purchased: 15,000 (+96.0%)
Price: USD 6.99
Total Value: USD 104,852

US Insider Sales

Brown & Brown Inc (BRO)
Seller: Hyatt J. Brown (Chairman)
Shares Sold: 389,007 (-1.1%)
Price: USD 111.75
Total Value: USD 43,471,532

Datadog Inc (DDOG)
Seller: Olivier Pomel (Chief Executive Officer)
Shares Sold: 86,677 (-18.0%)
Price: USD 156.49
Total Value: USD 13,564,465

Frontier Communications Corp (FTRCQ)
Seller: Ares Management LLC (Large Shareholder)
Shares Sold: 360,922 (-1.0%)
Price: USD 34.88
Total Value: USD 12,587,913

AmerisourceBergen Corp (ABC)
Seller: Steven H. Collis (Executive Chairman)
Shares Sold: 50,000 (-13.3%)
Price: USD 243.98
Total Value: USD 12,198,750

AMETEK Inc (AME)
Seller: David A. Zapico (Chief Executive Officer)
Shares Sold: 60,060 (-14.2%)
Price: USD 196.66
Total Value: USD 11,811,400


CDN Insider Purchases

Lundin Gold Inc (LUG)
Transaction Type: Purchase
Buyer: Newmont Corporation (Large Shareholder)
Shares Purchased: 166,336 (+0.2%)
Price: CAD 32.03
Total Value: CAD 5,327,742

CDN Insider Sales

Quebec Innovative Materials Corp (QIMC)
Transaction Type: Sale
Seller: ThreeD Capital Inc. (Large Shareholder)
Shares Sold: 525,000 (-3.8%)
Price: CAD 0.18
Total Value: CAD 95,445

Quebec Innovative Materials Corp (QIMC)
Transaction Type: Sale
Seller: Sheldon Inwentash (Large Shareholder)
Shares Sold: 525,000 (-3.8%)
Price: CAD 1,818.00
Total Value: CAD 954,450,000

Birchcliff Energy Ltd (BIR)
Transaction Type: Sale
Seller: Aaron Jeffery Tonken (Non-Executive Director)
Shares Sold: 200,000 (-52.6%)
Price: CAD 5.53
Total Value: CAD 1,106,000

iA Financial Corporation Inc (IAG)
Transaction Type: Sale
Seller: Denis Ricard (Executive Director)
Shares Sold: 10,000 (-17.2%)
Price: CAD 135.00
Total Value: CAD 1,350,000

Great-West Lifeco Inc (GWO)
Transaction Type: Sale
Seller: Paul Mahon (Executive Director)
Shares Sold: 146,826 (-33.5%)
Price: CAD 49.88
Total Value: CAD 7,323,842

CGI Inc (GIB.A)
Transaction Type: Sale
Seller: Mark Boyajian (Senior Officer)
Shares Sold: 13,955 (-69.3%)
Price: CAD 155.00
Total Value: CAD 2,163,025


Institutional Spotlight: Daktronics, Inc. (DAKT)

Daktronics continues to draw strong institutional interest, with 369 institutional owners holding an impressive 78.69% of the company’s outstanding shares. Among the most notable investors is Stanley Druckenmiller’s Duquesne Family Office, joined by key players such as BlackRock, Inc., Dimensional Fund Advisors LP, and Vanguard Group Inc., alongside influential funds like IWM – iShares Russell 2000 ETF and AVUV – Avantis U.S. Small Cap Value ETF. This level of backing underscores the confidence in Daktronics’ growth prospects and its importance within diversified portfolios.

As of November 25, 2024, Daktronics’ share price stands at $14.90, reflecting an impressive 26.70% increase over the past year, up from $11.76 on November 27, 2023. This upward momentum highlights the company’s ability to generate value and attract institutional attention.

The institutional value of long holdings totals an impressive $433.52 million USD, further signaling optimism in the company’s future. A notable 13G filing on May 9, 2024, disclosed a 5.40% ownership stake, reinforcing the view that Daktronics remains a strong choice for institutional investors. With stalwarts like Stanley Druckenmiller and BlackRock maintaining significant positions, Daktronics is well-positioned to build on its recent successes.


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 – 2024-11-23

AAPL, ACLX, ADSK, AESI, AEYE, AFRM, AGX, AJG, ALL, AMP, AMSC, ANET, AON, APD, APH, APLD, APLT, APO, APP, ARES, ASPI, ATMU, AXON, AXP, BAC, BDC, BECN, BHRB, BK, BKU, BLFS, BLK, BN, BNTC, BOKF, BOX, BRKL, BTDR, BTO, BV, BX, CAAP, CAVA, CBSH, CBU, CDMO, CFFN, CFG, CFR, CIEN, CIFR, CKPT, CLM, CMA, CMI, CMPO, CNK, COMP, COOP, CORZ, CPT, CRBG, CRH, CRS, CRVL, CSWI, CTAS, CVBF, CVNA, CW, CWAN, DE, DECK, DLR, DOCS, DOCU, DORM, DTM, DUOL, EBC, EHC, ENVA, EQH, EQR, ETN, EWTX, EZPW, FCF, FCNCA, FFIN, FFIV, FI, FIBK, FIX, FLUT, FNGS, FOUR, FRME, FRPT, FUNC, GKOS, GLW, GM, GPI, GRND, GSHD, GTES, GWRE, HCP, HD, HIMS, HLMN, HLT, HMN, HNRG, HOMB, HPE, HPQ, HTLF, HWM, IBM, IESC, INDB, IOT, IP, IPI, ITRI, ITT, JHG, JPM, KAI, KD, KKR, KTOS, KVYO, KW, LAZ, LBTYA, LENZ, LITE, LLYVA, LMB, LNT, LOPE, LYV, MAA, MAMA, MCB, MCO, MD, MDGL, MGNI, MIR, MKL, MNDY, MOD, MP, MRCY, MSI, MTSI, MTUM, MTZ, MWA, NATL, NCLH, NCNO, NDAQ, NFLX, NN, NOW, NRIM, NWBI, OFIX, OMF, ONON, OOMA, ORI, ORRF, OSW, OUT, OWL, PCT, PFS, PGR, PGRU, PHX, PLNT, PLTR, PLXS, PNC, POWL, PRAX, PTCT, PTGX, PYPL, QNST, QTWO, RBC, RCL, RDVT, RDW, REAL, REPL, REVG, RGA, ROAD, RYAN, RYTM, SAP, SCHW, SCI, SEZL, SFM, SFNC, SGHC, SHW, SKY, SLNO, SLVM, SMR, SNDR, SNT, SPOT, SPXC, SR, SSNC, SSO, STEP, SWI, SWX, TBBK, TGLS, TGNA, TGTX, TJX, TOST, TSLA, TT, TTD, TTWO, TW, TYL, UAL, UGL, USFD, USM, UTHR, VERX, VRNA, VRSK, VSCO, VTV, VTWO, VUG, WAB, WCC, WELL, WGS, WLFC, WM, WMT, WSO, WULF, XLF, YEXT, YPF, Z, ZBRA, ZM, ZWS

 

Canadian Institutional Momentum Watchlist

EXPORT – CDN – Institutional – 2024-11-23

AAUC.TO, ABX.TO, AC.TO, ACQ.TO, AD/UN.TO, AFN.TO, AGI.TO, AIF.TO, ALA.TO, ARE.TO, ARG.TO, ARIS.TO, ARTG.V, ATH.TO, ATRL.TO, BBD/B.TO, BMO.TO, BN.TO, BNS.TO, BTO.TO, CAS.TO, CCA.TO, CEF.TO, CEU.TO, CGY.TO, CIGI.TO, CIX.TO, CJ.TO, CM.TO, CNQ.TO, CNR.TO, CP.TO, CPX.TO, CRON.TO, CU.TO, CWB.TO, CXB.TO, DFY.TO, DNG.TO, DOO.TO, DPM.TO, DSG.TO, DXT.TO, EDV.TO, EFX.TO, EMA.TO, EQB.TO, EXE.TO, FC.TO, FFH.TO, FM.TO, FN.TO, FNV.TO, FRU.TO, FSV.TO, FSZ.TO, FTS.TO, GAU.TO, GEI.TO, GFL.TO, H.TO, HBM.TO, III.TO, IMG.TO, IMO.TO, JWEL.TO, K.TO, LAC.TO, LB.TO, LSPD.TO, LUC.TO, LUG.TO, LUN.TO, MDA.TO, MG.TO, MND.TO, MTY.TO, MX.TO, NA.TO, NEO.TO, NOA.TO, NXE.TO, ONEX.TO, OR.TO, PD.TO, PHX.TO, PIF.TO, POU.TO, POW.TO, PRL.TO, PZA.TO, RCH.TO, RUS.TO, SCR.TO, SII.TO, SRU/UN.TO, SSL.TO, SU.TO, TD.TO, TF.TO, TFII.TO, TIH.TO, TOY.TO, TPZ.TO, TVE.TO, VHI.TO, WDO.TO, WJX.TO, WPK.TO, WPM.TO, WSP.TO, WTE.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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