Paper bought 1008 NU July 45 Calls for $.25 (30.6 times usual volume) when stock was trading $42.70
Paper bought 1800 INT Aug 45 Calls for $1 (14.9 times usual volume) when stock was trading $39.96
Paper bought 2500 LVLT Jan 2014 20 Calls for $3.10 (2.7 times usual volume) when stock was trading $30.08
Paper bought 1000 HWD May 17.5 Calls for $.50 (5.0 times usual volume) when stock was trading $16.82
Paper bought 1000 QSII April 20 Calls for $.15 (23.4 times usual volume) when stock trading $18.15

Paper bought 1415 TXI July 60 Puts for $3.70 (2.9 times usual volume) when stock was trading $65.77
Paper bought 1400 SGI April 15 (15.6 times usual volume) when stock was trading $14.79
Paper bought 958 XCO Sep 8 Puts for $1.20 when stock was trading $7.68
Paper bought 1132 ILMN April 50 Puts (3.3 times usual volume) when stock was trading $53.32
Paper bought 700 CYT May 75 Puts for $2.50 (6.6 times usual volume) when stock was trading $76.73

Paper bought 2000 EGO July 10 Calls for $.775 (19.3 times usual volume) when stock was trading $9.74
Paper bought 1668 STX 3.28.2013 Weekly 36 Calls for $.09 when stock was trading $34.21
Paper bought 15,500 SU May 32 Calls for $.35 (3.9 times usual volume) when stock was trading $30.22
Paper sold COP 5000 March weekly 60 Calls and bought 10,000 April 62.5 Calls for $.45 (4.6 times usual volume) when stock was trading $60.91
Paper bought 700 CS April 28 Calls for $.45 when stock was trading $27.15

Tibco Software (TIBX) shares are crashing back down to earth today as the cloud company saw Q1 earnings fall 54%. The firm said that execution problems were mainly to blame. This is coming off the back of ORCL yesterday blaming their sales force for their respective miss.  TIBX shares are roughly down 17% today as a result of the news.

From the prospective of technicals, $18.55 is a level of interest. This support area has been the bottom of two recent lows and may prove again to be an area where buyers come in. Wedbush maintained an outperform on TIBX, but lowered its PT to $25.

salerno.mark.a@gmail.com

MetroPCS’s stock has dropped significantly since the merger was announced, although that could also be because their 2012 fourth quarter net profit plunged by 65% because of higher expenses combined with lost subscribers. Earlier in 2012, Sprint had tried to buy MetroPCS for $8 billion but their board rejected the plan.  MetroPCS has argued the deal with T-Mobile is the best of competing alternatives and is urging its shareholders to approve the merger.

MetroPCS smart phone users will be able to connect to T-Mobile’s LTE networks and vice versa. The two companies will continue to operate two different LTE networks in 2013, but combine the networks in 2014. MetroPCS will be phasing out all its old CDMA networks in favor of LTE networks by 2015. Recently MetorPCS announced a collaboration with Ericsson to upgrade its LTE network hoping to attract new subscribers.

The Trade:  Buying the PCS April 11 Calls for $.41
Risk: $41 per 1 lot
Reward: Unlimited
Breakeven: $11.41

Greeks of the Trade:
Delta: Long
Gamma: Long
Vega: Long
Theta: Short

—
Andrew Keene
President/Founder
Andrew@KeeneOnTheMarket.com 

Paper bought 922 JAZZ April 55 Puts for $1.10 when stock was trading $57.45
Paper bought 800 PLCM May 10 Puts for $.50 when stock was trading $11.29
Paper bought 1600 TRQ May 5 Puts for $.15 (2.2 times usual volume)nwhen stock was trading $6.40
Paper bought 3750 ARMH April 38 Puts for $.65 (3.4 times usual volume) when stock was trading $40.07
Paper sold 2000 SPRD May 19 Puts for $1.20 (4.1 times usual volume) when stock was trading $19.50

Paper bought 1000 OSGIQ Jan 2014 5 Calls for $.30 (9.8 times usual volume) when stock was trading $2.94
Paper bought 1000 KLAC April 55 Calls for $.30 (2.2 times usual volume) when stock was trading $51.36
Paper bought 1000 COCO May 2 Calls for $.35 (16.2 times usual volume) when stock was trading $2.22
Paper bought 500 DSX April 10 Calls for $.10 (5.5 times usual volume) when stock was trading $9.24
Paper bought 500 GNK May 4 Calls for $.15 (3.4 times usual volume) when stock was trading $3.08