Notice: The Daily Setups are provided for informational purposes only and are not intended as a stock-picking service. The charts and information provided are intended to aid research and analysis and should only be used as indicators. They should not be considered as a direct trigger to buy or sell any security. The creator assumes no responsibility for any actions readers take and strongly advises each individual to fully understand the risks and potential consequences before making any investment decisions. Please note that the charts shared are not intended as signals to buy or sell but as a tool to add to your watchlist and analyze according to your trading ability. Remember that not all charts will result in buy or sell actions at any time.
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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
iShares 20+ Year Treasury Bond ETF (TLT)
Sentiment: Bearish
Options Activity: Multiple PUT purchases across different trades, all expiring on 2024-10-07
Total Values: The largest trade was $1.2M, with others ranging between $532K and $1.18M
Strike Price or Range of Strike Prices: $97.50
Expectations: The high volume of PUT sweeps suggests a bearish outlook, likely expecting a downside move before expiration.
Occidental Petroleum (OXY)
Sentiment: Bullish
Options Activity: Significant CALL purchases, expiring on 2025-03-21
Total Values: Trades totaled up to $3.87M and $3.76M
Strike Price or Range of Strike Prices: $60
Expectations: The bullish sentiment implies that traders are positioning for a potential upward move in the stock price.
Uber Technologies (UBER)
Sentiment: Bullish
Options Activity: PUT sales for 2025-08-15 expiration
Total Values: Largest trade $444K, with others around $267K
Strike Price or Range of Strike Prices: $72.50
Expectations: The strike price of $72.50 represents the level at which the seller of the PUT would be obligated to buy the stock if it falls below that price before expiration. Since traders are selling these PUT options, it suggests a bullish outlook—they are betting that the stock will stay above $72.50, meaning they collect the premium without having to buy the shares. This strategy reflects confidence that Uber’s price will either remain stable or rise, as a drop below the strike price would mean the PUT sellers would need to purchase the stock at $72.50.
Reddit (RDDT)
Sentiment: Bullish
Options Activity:
- PUT sales for 2024-11-15 expiration at strike prices of $80 and $72.50
- CALL purchase for 2024-10-04 expiration at a strike price of $67
Total Values: Largest PUT trade $408K, with the CALL purchase totaling $414K
Strike Price or Range of Strike Prices: $67 to $80
Expectations:
The PUT sales at $80 and $72.50 indicate that traders are expecting the stock price to remain above these levels by November 2024. Selling PUTs reflects a bullish sentiment because the sellers are confident the stock won’t drop below these strike prices, allowing them to keep the premium. The CALL purchase with a strike price of $67 further confirms bullish sentiment, as the buyer is positioning for a potential upside before the near-term expiration in October 2024. By buying CALLs, they expect Reddit’s stock price to rise above $67, allowing them to benefit from any upward movement in the short term.
Rio Tinto (RIO)
Sentiment: Bullish
Options Activity: CALL purchases expiring on 2026-01-16
Total Values: The largest trade was $720K
Strike Price or Range of Strike Prices: $85
Expectations: Bullish sentiment, with long-term CALL activity, suggests anticipation of price appreciation over the next two years.
iShares Silver Trust (SLV)
Sentiment: Bullish
Options Activity: Multiple CALL sweeps expiring on 2025-04-17
Total Values: Largest trade was $1.38M, with others totaling $845K and $450K
Strike Price or Range of Strike Prices: $28
Expectations: Bullish outlook as CALL buyers are positioning for a potential upside move in the price of silver.
Moderna (MRNA)
Sentiment: Mixed
Options Activity: Multiple PUT and CALL sweeps, expiring between 2025 and 2026, significant volume on both bullish and bearish sides
Total Values: Largest trade was $1.0M, with other trades ranging from $127.1K to $232.9K
Strike Price or Range of Strike Prices: $50 to $100
Expectations: The mixed activity suggests uncertainty about near-term price action, with both bullish and bearish positions being built.
United Parcel Service (UPS)
Sentiment: Bearish
Options Activity: Several PUT sweeps, including large bearish bets expiring in 2025
Total Values: Trades ranged from $42.9K to $95.0K
Strike Price or Range of Strike Prices: $120 to $210
Expectations: The bearish sentiment is reinforced by significant PUT sweep activity, suggesting a potential downside move in the near term.
Zscaler (ZS)
Sentiment: Mixed
Options Activity: A mix of PUT and CALL trades, including a bullish PUT sweep expiring in 2024 and bearish CALL trades for 2025
Total Values: Largest trade $675.0K, with other trades ranging from $56.1K to $275.0K
Strike Price or Range of Strike Prices: $135 to $180
Expectations: Mixed sentiment with both bullish and bearish positions, indicating indecision on future price direction.
Capri Holdings (CPRI)
Sentiment: Bearish
Options Activity: Primarily bearish CALL and PUT sweeps with high volume expiring in 2024 and 2025
Total Values: Largest trade $682.5K, with smaller trades around $55.1K
Strike Price or Range of Strike Prices: $30 to $55
Expectations: Bearish activity suggests potential downside pressure on the stock as high-volume PUTs dominate.
Vertiv Holdings (VRT)
Sentiment: Bearish
Options Activity: Multiple PUT and CALL sweeps, mostly bearish, expiring in late 2024 and early 2025
Total Values: Largest trade $323.3K, with others around $175.4K
Strike Price or Range of Strike Prices: $100 to $120
Expectations: The bearish sweeps indicate the market is positioning for a possible downturn.
Nikola Corporation (NKLA)
Sentiment: Bullish
Options Activity: Several bullish CALL sweeps expiring between 2024 and 2026
Total Values: Largest trade $1.1M, with other trades ranging from $31.6K to $106.2K
Strike Price or Range of Strike Prices: $4.50 to $8.00
Expectations: The bullish sentiment implies that traders are expecting upside potential for the stock in the near future.
Snap Inc. (SNAP)
Sentiment: Bullish
Options Activity: A mix of bullish PUT and CALL sweeps expiring in 2024 and 2026
Total Values: Largest trade $220.0K, with other trades around $56.1K
Strike Price or Range of Strike Prices: $10.00 to $17.00
Expectations: Bullish sentiment suggests a potential rise in the stock’s price in the medium term.
Li Auto (LI)
Sentiment: Bearish
Options Activity: Significant PUT and CALL sweeps, primarily bearish, expiring in late 2024
Total Values: Largest trade $412.0K, with others around $205.2K
Strike Price or Range of Strike Prices: $27.00 to $28.00
Expectations: The strong bearish sentiment suggests downside pressure in the near term.
Accenture (ACN)
Sentiment: Bearish
Options Activity: Mostly PUT sweeps with significant volume expiring in 2024 and 2025
Total Values: Largest trade $89.2K, with other trades around $47.2K
Strike Price or Range of Strike Prices: $325 to $370
Expectations: Bearish sentiment aligns with market expectations of downside risk for the stock.
Dell Technologies (DELL)
Sentiment: Mixed
Options Activity: A combination of bullish and bearish trades, including significant PUT and CALL sweeps expiring between 2024 and 2027
Total Values: Largest trade $864.5K, with others around $76.4K
Strike Price or Range of Strike Prices: $19.25 to $130.00
Expectations: Mixed signals reflect uncertainty about the stock’s future price action.
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
Ibotta, Inc. (IBTA)
Buyer: D. E. Shaw & Co., L.P. (Large Shareholder)
Shares Purchased: 1,944 (+0.1%)
Price: USD 60.53
Total Value: USD 117,671
RF Industries Ltd (RFIL)
Buyer: Mark Keith Holdsworth (Non-Executive Director)
Shares Purchased: 10,000 (+17.5%)
Price: USD 4.00
Total Value: USD 40,000
US Insider Sales
Palantir Technologies Inc. (PLTR)
Seller: Peter Thiel (Non-Executive Director)
Shares Sold: 3,350,229 (-8.7%)
Price: USD 36.54
Total Value: USD 122,425,743
Factset Research Systems Inc. (FDS)
Seller: Frederick Philip Snow (Chief Executive Officer)
Shares Sold: 3,000 (-18.8%)
Price: USD 455.09
Total Value: USD 1,365,270
Corcept Therapeutics Inc. (CORT)
Seller: Gary Charles Robb (Chief Business Officer)
Shares Sold: 11,000 (-32.6%)
Price: USD 46.28
Total Value: USD 509,080
Griffon Corp (GFF)
Seller: Ronald J. Kramer (Chairman of the Board and CEO)
Shares Sold: 1,821 (-0.1%)
Price: USD 70.02
Total Value: USD 127,506
CDN Insider Purchases
Red Pine Exploration Inc. (RPX)
Buyer: Alamos Gold Inc. (10% Security Holder)
Shares Purchased: 13,763,530 (+53.3%)
Price: CAD 0.09
Total Value: CAD 1,238,718
Peruvian Metals Corp. (PER)
Buyer: Steven Samuel Brunelle (Non-Executive Director)
Shares Purchased: 1,375,000 (+84.0%)
Price: CAD 0.02
Total Value: CAD 27,500
Gran Tierra Energy Inc. (GTE)
Buyer: Ryan Paul Ellson (Senior Officer)
Shares Purchased: 12,000 (+35.7%)
Price: CAD 8.52
Total Value: CAD 102,240
CDN Insider Sales
Canadian Apartment Properties REIT (CAR.UN)
Seller: Elaine Todres (Non-Executive Director)
Shares Sold: 5,200 (-51.5%)
Price: CAD 54.74
Total Value: CAD 284,647
EQB Inc. (EQB)
Seller: Michael Paul Mignardi (Executive Director)
Shares Sold: 900 (-20.1%)
Price: CAD 104.05
Total Value: CAD 93,645
Capital Power Corp (CPX)
Seller: Bryan DeNeve (Senior Officer)
Shares Sold: 3,000 (-40.2%)
Price: CAD 49.64
Total Value: CAD 148,920
Institutional Spotlight: Reddit (RDDT)
Reddit (RDDT) has emerged as a stock to watch closely as it shows up in unusual options activity and daily setups. This heightened attention from traders suggests potential volatility and interest in significant price movements, positioning Reddit as a key player in today’s market action.
For the third quarter of 2024, several notable institutional investors have taken significant positions in Reddit, as revealed by 13F filings. Among the top names, Chase Coleman III of Tiger Global Management remains one of Reddit’s largest shareholders, continuing to hold a substantial portion of the company. Ole Andreas Halvorsen of Viking Global Investors also made a considerable investment, reflecting his confidence in the platform’s growth potential. Maverick Capital Ltd. increased its stake by 147.4%, adding over 440,000 shares in the previous quarter, underscoring its belief in Reddit’s future prospects. Longtime backers like Tencent Holdings and Advance Publications maintained strong positions, reinforcing their support for the company.
Institutional ownership in Reddit is on the rise, with 300 institutional owners now holding a total of 35,525,294 shares, which accounts for 37.41% of Reddit’s outstanding shares. Notably, the institutional sentiment score measures accumulation by funds is signaling a high level of institutional interest relative to its peers. Key shareholders include heavyweights like Vanguard Group Inc., FMR LLC, and BlackRock Inc., among others.
Reddit’s growing appeal among institutional investors and its increased presence in options trading activity suggests that market participants see significant upside potential. As Reddit continues to capture attention, it will be crucial to monitor any breakout or substantial shifts in momentum.
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!