Schaeffer's Trading Floor Blog
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Momentum names that made notable moves on Monday and could continue to do so into Tuesday's session include retailers Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) and Sears Holdings Corp (NASDAQ:SHLD), as well as alternative energy provider Clean Energy Fuels Corp (NASDAQ:CLNE). Here is a quick look at these stocks ahead of tomorrow's opening bell.

Jos. A. Bank Clothiers Inc (NASDAQ:JOSB)

Jos A. Bank shares extended last week's news-driven gains, climbing to a fresh record peak of $62.80 today, before settling at $62.31 at the market's close. Today's positive price action followed news that the retailer has agreed to work with The Men's Wearhouse, Inc. (NYSE:MW) toward a potential partnership. Meanwhile, options traders responded by picking up contracts at a rate that more than doubled the daily average. Considering 13.5% of JOSB's float is sold short, it is possible that some of today's call activity, particularly at the out-of-the-money strikes, was actually the work of short sellers hedging their bearish bets against more potential upside -- or an increased offer for JOSB.

Sears Holdings Corp (NASDAQ:SHLD)

After tacking on 3.3% today to close at $46.24, Sears now boasts a five-day advance of 21.5%. Much of this price action was news driven, as the retailer reported fourth-quarter earnings last Thursday, and then announced the investigation of a possible security breach on Friday. Meanwhile, in the options pits, call volume spiked to nearly double the expected daily amount today, and outnumbered puts by a margin of 3-to-2. Similar to JOSB, SHLD has racked up a significant amount of short interest. Currently, 33.4% of the stock's float is sold short. As such, some of today's call players may have actually been short sellers in disguise, hedging against more gains.

Clean Energy Fuels Corp (NASDAQ:CLNE)

Clean Energy Fuels rebounded 4.9% today to close at $8.78, after plunging 13.7% to a multi-year low on Friday on dismal fourth-quarter earnings results. As such, the stock saw a slight uptick in call activity in its options pits. By the end of the session, close to 3,000 of these contracts had crossed the tape -- roughly three times the number of puts exchanged. In fact, nine of the 10 most active strikes on CLNE were of the call variety. Furthermore, it appears a number of speculators expect the equity to make its way back into double-digit territory; the shares haven't closed north of $10 since Feb. 6.


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