Options Traders Love Commodity Stocks

JC Parets
March 18, 2022

We’ve talked a lot about the unusual options activity in commodity stocks like Freeport-McMoRan $FCX in recent weeks and months. 

Yesterday, we saw more of the same, as options traders made some major splashes in April monthly calls for both the oil services giant Schlumberger $SLB and the British integrated oil and gas name Shell Plc $SHEL.

Another materials name from the paper products industry, Resolute Forest Products $RFP, also saw some bullish flow.

As for hedge fund activity, there was an initial 13D filed by Sachem Capital Management which revealed a position the fund has taken in Anaplan Inc $PLAN.

Keith Meister’s Corvex Management also reported an ownership stake in this joint filing with Sachem Capital.

The investment firms reported a combined stake of roughly 8% of the outstanding shares.

Here’s The Hot List, with data through March 17, 2022:

There was also a large Form 4 filing by Turtle Creek Asset Management. The firm purchased over $8 million of JELD-WEN Holding $JELD.

Abdiel Capital continues to accumulate shares in the software company Appian Corp $APPN, as its latest filing reveals an additional purchase of $7.4 million of stock.

Last but not least, there was a sizable insider buy reported by the DocuSign $DOCU President and CEO Daniel Springer.

After a roughly $5 million purchase, the chief executive now owns about 140,000 shares of his own company’s stock.

Have a great weekend. We'll be back Monday with more insider action.

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All Star Charts Team

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