Large Option Traders Are Selling The Aurora Cannabis Earnings Pop

奥罗拉大麻饮料进展缓慢,大型期权交易商正在抛售其股票

2019-05-20 08:25:45 Benzinga

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Aurora Cannabis Inc shares traded higher by 8 percent this week after the company reported a mixed first-quarter earnings report Tuesday evening. Options traders made some big moves following Aurora’s earnings, and the largest trades suggest the Aurora rally could soon run out of steam. The Trades Throughout the week, Benzinga Pro subscribers received a number of options alerts related to Aurora Cannabis. On Wednesday morning around 10:30 a.m., a trader sold 2,000 Aurora call options at a $9 strike price that expire on Dec. 20. The calls were sold at the bid price of $1.051 and represent a $315,500 bearish on Aurora shares. The next unusually large trade came Wednesday shortly after 2:00 p.m. The trader first sold 1,261 Aurora put options at a $9 strike price that expire on June 21 at the bid price of 95 cents. A few minutes later, likely the same trader sold another 1,000 Aurora put options at a $9 strike price that expire on June 21 at the bid price of 90.1 cents. The total put sales represented a $209,895 bullish bet on Aurora. On Thursday afternoon, another large Aurora option trade was executed. The trader sold 1,092 Aurora call options at a $7 strike price that expire on Jan. 15, 2021. The calls were sold at the bid price of $2.601 and represent a $284,029 bearish bet on Aurora’s longer-term outlook. On Friday morning, two more Aurora option sales were processed. The trader first sold 1,000 Aurora call options at a $8 strike price that expire on July 19. The calls were sold at the bid price of $1.051. Then, the trader came back and sold 1,937 Aurora call options at a $8 strike price that expire on January 17, 2020. The calls were sold at the bid price of $1.601. Together, the two trades represented a $415,213 bearish bet against Aurora. Why It’s Important Due to the relatively complex nature of the options market, options traders are generally considered to be more sophisticated than the average stock trader. In addition, large options traders are often professional, wealthy individuals or institutions, either of which could have unique insight or information about a company. Even traders that stick exclusively to stocks watch the option market closely for unusual trading activity as an indicator of where the “smart money” is focusing. Given Aurora’s earnings report sent the stock trading higher, the mostly bearish options trading may simply be a “sell-the-news” event in which traders are taking profits on the red-hot stock. Separately, Bank of America analysts said Aurora may be “missing the boat” in the cannabis-infused beverage business, and traders may also see better cannabis opportunities elsewhere. The firm reiterated a Buy rating and $11 price target on the stock. Unfortunately, because stock investors often use put options to hedge larger bullish stock positions, there’s no way to be 100 percent certain whether an option trade is a standalone purchase or a hedge against a stock position. Given the buys on this week individually represented less than $500,000 bets, they are unlikely to be hedges in this case. Aurora Cannabis's stock traded around $8.80 per share at time of publication. Related Links: Analyst: Aurora Cannabis May Be 'Missing The Boat' In Beverages Options Trader Makes 9K Bearish Bet On Aurora Cannabis Ahead Of Earnings See more from Benzinga
奥罗拉(Aurora) Cannabis Inc .股价本周上涨8%,此前该公司周二晚间发布了一份综合的第一季度收益报告。期权交易员在奥罗拉的收益之后采取了一些重大举措,最大的交易表明,奥罗拉(Aurora)的反弹可能很快就会失去动力。 行业 本周, BenzingPro 用户收到了与奥罗拉(Aurora) Cannabis 相关的多个选项警报。 周三上午10点30分左右,一名交易员以9美元的执行价格卖出了2000份奥罗拉(Aurora)看涨期权,该期权将于12月20日到期。这些电话以1.051美元的出价出售,代表着对奥罗拉(Aurora)股票的看跌315,500美元。 下一次不同寻常的大规模交易发生在周三下午2点之后。这位交易员首次以9美元的执行价格卖出了1261份奥罗拉(Aurora)看跌期权,该期权将于6月21日到期,买入价为95美分。几分钟后,这位交易员可能又以9美元的执行价格卖出了1000份奥罗拉(Aurora)看跌期权,该期权将于6月21日到期,买入价为90.1美分。总看跌卖出代表着对奥罗拉(Aurora)的209895美元看涨。 周四下午,另一个大型的奥罗拉(Aurora)期权交易被执行。该交易员以2021年1月15日到期的7美元执行价格售出1092份奥罗拉(Aurora)看涨期权。这些看涨期权以2.601美元的出价出售,代表着对奥罗拉(Aurora)长期前景的284029美元看跌。 周五上午,又有两笔奥罗拉(Aurora)期权交易被处理。该交易员首次以8美元的执行价出售了1000份奥罗拉(Aurora)看涨期权,该价格将于7月19日到期。这些电话以1.051美元的出价出售。然后,该交易员又回来,以8美元的执行价格卖出了1937份奥罗拉(Aurora)看涨期权,该价格将于2020年1月17日到期。这些电话以1.601美元的出价出售。这两笔交易加在一起代表着对奥罗拉(Aurora)的415213美元看跌押注。 为什么重要 由于期权市场的相对复杂性,期权交易员通常被认为比普通股票交易员更为老练。此外,大型期权交易员通常是专业的、富有的个人或机构,他们中的任何一位都可能对一家公司有独特的见解或信息。即使是只盯着股票的交易员,也会密切关注期权市场的异常交易活动,以此来判断“聪明的钱”在哪里集中。 鉴于奥罗拉(Aurora)的盈利报告推高了股票交易,最悲观的期权交易可能只是一个“卖出新闻”事件,交易员正在利用红热股获利。 另外,美国银行( Bank of America )分析师表示,奥罗拉(Aurora)可能正“错过”大麻饮料业务,交易员也可能在其他地方看到更好的大麻机会。该公司重申了对该股的买入评级和11美元的目标价. 不幸的是,由于股票投资者通常使用看跌期权来对冲更大的看涨股票头寸,因此无法百分之百确定期权交易是独立购买还是对冲股票头寸。鉴于本周买入的单只代表不到50万美元的赌注,在这种情况下,它们不太可能是对冲。 奥罗拉(Aurora) Cannabis 的股票在发行时的价格约为每股8.80美元。 相关链接: 分析师:奥罗拉·坎纳比斯可能在饮料中“丢了船” 期权交易者在获利前在奥罗拉(Aurora)坎纳比斯做9K 轴承赌注 请参阅 Benzinga

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