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Option Clips: Nike Inc, Pandora Media Inc, and The Gap Inc.

Reviewing notable options activity on Nike Inc, Pandora Media Inc, and The Gap Inc.

by 1/30/2014 2:29 PM
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Two equities generating buzz on StockTwits today are athletic apparel maker Nike Inc (NYSE:NKE) and streaming radio provider Pandora Media Inc (NYSE:P). Retailer The Gap Inc. (NYSE:GPS), meanwhile, is also garnering unusual attention in the options pits. Here's a look at how traders have been aligning their speculative bets today.

  • Nike Inc (NYSE:NKE) is following sector peer Under Armour Inc (NYSE:UA) into the black, with the shares up 2.7% at $73.71. Overall option volume is running at twice the normal rate, with roughly 12,000 contracts already traded. Most investors are honing in on NKE puts; more than 9,000 have traded, compared to just over 3,100 calls.

  • Thanks to a social media halo lift, Pandora Media Inc (NYSE:P) was last seen 12.9% higher at $37.15, after notching a new all-time peak of $37.95 earlier today. Around 20,000 calls and 23,000 puts have been exchanged -- double the equity's average intraday option volume. P has outperformed the broader S&P 500 Index (SPX) by nearly 29 percentage points in the last month, and the company will report earnings after the market closes on Wednesday, Feb. 5.

  • The Gap Inc. (NYSE:GPS) is following the broader equities market higher, up 3.3% at $38.02. From a longer-term perspective, the shares have underperformed the SPX by more than 10 percentage points in the past 40 sessions, yet option traders today are gambling on more upside -- at least, in the very short term. Overall call volume is running at almost four times the norm, with speculators buying to open the weekly 1/31 37.50-strike call.


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