Bulls Blitz Blackstone Group LP (BX) Ahead of Earnings

Blackstone Group LP (BX) will report earnings ahead of next Thursday's open

by Karee Venema

Published on Apr 9, 2015 at 3:16 PM
Updated on Apr 20, 2015 at 5:32 PM

First-quarter earnings season is underway, and Blackstone Group LP (NYSE:BX) will take its place in the limelight ahead of the open next Thursday, April 16. Options traders have been piling up on calls in the weeks leading up to the big event. In fact, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BX's 10-day call/put volume ratio of 12.42 ranks just 2 percentage points from a 52-week peak.

Echoing this call-skewed bias is BX's Schaeffer's put/call open interest ratio (SOIR) of 0.83. Not only does it indicate call open interest outweighs put open interest among options slated to expire in three months or less, but it ranks in the 29th annual percentile. In other words, speculative traders are more call-heavy than usual toward the security.

Today, BX's weekly 5/1 37.50-strike call has received notable attention, and it appears as if some of the activity is of the buy-to-open kind. By initiating these long calls, speculators expect the stock to extend its lead north of $37.50 through the close on Friday, May 1, when the weekly series expires.

On the charts, the stock has been gaining ground since hitting an annual low of $26.56 in mid-October -- up 47% at $39. Today, however, BX is off 0.5%, despite KBW hiking its price target on the stock to $45 from $41 -- territory yet to be charted. Meanwhile, reports are circulating General Electric Company (NYSE:GE) could be on the verge of closing a real-estate deal with Blackstone Group LP (NYSE:BX) and Wells Fargo & Co (NYSE:WFC).


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
Silver Lining for Struggling Ulta Beauty Stock
Historically, ULTA is one of the best stocks to own in the second quarter
3M Ramps Up Face Mask Production on White House Order, Stock Slips
President Trump said he would invoked the Defense Production Act against 3M in a tweet late on Thursday
Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.