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Option Clips: BlackBerry, Plug Power, and SodaStream International

Reviewing notable options activity on BlackBerry Ltd, Plug Power Inc, and SodaStream International Ltd

by 6/18/2014 2:31 PM
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Three names seeing notable option activity today are mobile phone maker BlackBerry Ltd (NASDAQ:BBRY), fuel cell expert Plug Power Inc (NASDAQ:PLUG), and home beverage system producer SodaStream International Ltd (NASDAQ:SODA). Here's a look at how today's option traders have been placing their bets on these three names.

  • BlackBerry Ltd (NASDAQ:BBRY) is a solid 2.2% higher this afternoon at $8.23, after announcing that its customers will soon have access to Amazon.com, Inc.'s (NASDAQ:AMZN) Appstore. In options land, overall volume is running at three times the expected intraday pace, and short-term contracts are in demand, as the stock's 30-day at-the-money (ATM) implied volatility (IV) is up 4% to 62.1%. Most active is BBRY's June 9 call, which appears to be experiencing an influx of sell-to-open activity. In other words, these traders are taking the skeptical route ahead of the company's fiscal first-quarter earnings report, due out tomorrow morning (or perhaps trying to capitalize on inflated IV ahead of the scheduled event). There's good reason for the skepticism, too. BBRY has fallen short of analysts' consensus bottom-line estimates in two of the past five quarters, resulting in an average loss of 3.8% in the subsequent session.

  • Plug Power Inc (NASDAQ:PLUG) has shot over 16% higher today, and was last seen around $4.98. Helping the shares is news that sector peer FuelCell Energy Inc (NASDAQ:FCEL) has received a $900,000 grant from the U.S. Department of Energy. Meanwhile, PLUG's intraday call volume has soared to six times the average, and its 30-day ATM IV is up 9.4% to 95.7%, signaling elevated demand for short-term contracts. Along those lines, traders are buying to open PLUG's in-the-money weekly 6/27 4.50-strike call.

  • Finally, SodaStream International Ltd (NASDAQ:SODA) has tacked on 3% to hover near the $38.52 level, despite a lack of notable news drivers. At the same time, 16,000 calls have traded -- nearly 10 times the expected intraday volume. Short-term SODA options are being targeted, too, as evidenced by the 14.9% rise in the equity's 30-day ATM IV, which currently sits at 44.5%. The two most active strikes are the out-of-the-money June 39 and October 45 calls, which have both seen significant buy-to-open activity this afternoon.


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