Today, November 05, 2021, in the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity in Agenus Inc., which opened at $37.52.
There were two sets of 4,000 and 5,000 contracts traded on the $37 strike call option, closed on the November 5th expiration and presumably rolled to the November 19th, 2021 expiration, respectively.
Altogether, these contracts represent approximately 900,000 shares and $1,380,000 in premium traded.
These orders come after Agenus Inc. reported revenue totaling $4.45 billion for the quarter ending September 30, 2021, compared to $4.53 billion for the corresponding period in 2020.
As seen, bearish premium accounts for 97.2% of the options chains, with 97% of bid-side orders and 99.7% being in calls.
In the Nasdaq Capital Market (NasdaqCM), we saw unusual or noteworthy options trading volume and activity in Agenus Inc. (AGEN), which opened at $4.30.
There were a total of 14,971 contracts traded on the $2 strike call option, bought to open at the ask, dated for November 19th, 2021.
Additionally, there were another 14,971 contracts traded on the $4 strike call option, sold to open at the bid, for the same date.
These contracts represent a put credit spread, approximately 2,994,200 shares, and $794,000 in premium traded.
These orders come in before Agenus Inc. reports its earnings on November 9th, 2021, before the market opens.
As of this writing, AGEN has had 30,113 puts traded, which is 792% greater than its 30-day put average. These orders are yet another example of why following just call-side or put-side orders does not necessarily represent bullish or bearish options order flow.
Finally, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Dell Technologies Inc. (DELL), which opened at $54.81.
There were three sets of 3,200 contracts and three sets of 800 contracts, spread across the $55 and $60 strike call options, dated for November 19th and December 17th, 2021.
Altogether, these trades represent approximately 1,200,000 shares and $1,960,000 in premium traded.
These orders come after Rich Smith from The Motley Fool reported that Dell Technologies Inc. completed the spinoff of its 81% stake in VMware (NYSE: VMW), effectively dividing the company into two stand-alone companies and distributing a total of 310.9 million shares of VMware (and a boatload of cash) among Dell shareholders.
These are the orders in VMware, Inc. (VMW) this morning of premiums greater than $10,000 or more. Of note, the options order flow on VMW is 74.69% bearish, as compared to DELL’s, which is 72.87% bullish this morning.
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