Schaeffer's Trading Floor Blog

Stocks to Watch Thursday: VIVUS, Inc., Macy's, Inc., and JinkoSolar Holding Co., Ltd.

Analyzing VVUS, M, and JKS ahead of tomorrow's trading

by 2/26/2014 4:45 PM
Stocks quoted in this article:

Momentum names that made notable moves on Wednesday and could continue to do so into Thursday's session include biopharmaceutical company VIVUS, Inc. (NASDAQ:VVUS), department store chain Macy's, Inc. (NYSE:M), and alternative energy concern JinkoSolar Holding Co., Ltd. (NYSE:JKS). Here is a quick look at these stocks ahead of tomorrow's opening bell.

VIVUS, Inc. (NASDAQ:VVUS)

VIVUS is still feeling the heat from its fourth-quarter earnings report Monday afternoon. Today, the stock fell to a three-year low of $5.63, before closing the session slightly off breakeven at $5.85. Not surprisingly, the equity spent the day on the short-sale restricted list, leading speculators to trade puts at a rate that nearly tripled the average daily pace. Digging deeper into the data shows the two most active strikes on the put side were in the January 2015 series. In fact, more than 80% of VVUS' put volume crossed at these two strikes alone.

Macy's, Inc. (NYSE:M)

Macy's, on the other hand, enjoyed extended earnings-induced gains today. To be specific, the equity closed the session with a 3% lead at $57.96, after flying to a record high of $58.66. Meanwhile, as M shares were running up the charts, puts flew off the shelves at a rate that almost quadrupled the expected daily amount. It looks as though a healthy chunk of these puts were sold to open, as speculators set a floor on Macy's price action.

JinkoSolar Holding Co., Ltd. (NYSE:JKS)

While JinkoSolar shares bounced 2.2% today to close at $30.59, the equity's put volume spiked to almost three times the average daily amount. By the end of the session, puts outnumbered calls, which is atypical activity in JKS' options pits. In fact, over the past 20 trading sessions, the stock has racked up an International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 13.92. In other words, today notwithstanding, speculators have bought to open nearly 14 calls for every put over the past month.


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