EEM – December 33 Put OI rises from 69,260 to 80,802 (China September flash PMI released last night collapsed to 47 level, the economy there is under significant contraction)

BBY – October (2) Weekly 38-strike Put OI rises from 605 to 3,554 (Hardline retailers continue to do relatively better than rest of market and entering into seasonally strong period, discarding this activity as largely technically driven bearish action)

NXPI – October 90 Put OI rises from 3,125 to 4,493 (heavy bearish action with over $1.4 million put premium bought yesterday within first hour of trading, stock is technically failing at the 50-day and 200-day moving averages, some cautious comments about outlook after company presented at DB Tech Conference on Sept 16-17)

AET – October (2) Weekly 118-strike Call OI rises from 2,706 to 6,499 (second consecutive day of call buying in next week’s options ahead of Congressional hearing and FTC approval of merger with HUM)

FDX – Jan’16 145-strike Call OI rises from 12,547 to 16,143 (perhaps the most perplexing leap call buying every day, feels like this could become target of activist shareholder)

X – April 12 Put OI rises from 271 to 31,824 (massive opening bearish action in April 2016 and January 2017 months yesterday, expect metal and miners to come under more selling pressure after China PMI miss)

NMBL – November 25 Call OI rises from 300 to 1,815 (name that was sparked with some call buying two months ago with M&A chatter, over 60% growth expected and stock is coming off strong quarter in August )

BAX – Jan’16 35-strike Call OI rises from 2,020 to 12,049 (over $  2 million bullish bet after stock has fallen some 15% in one month, big contrarian bullish play)

SSTK – October 30 Put OI rises from 397 to 1,397 (coming off disaster quarter, consolidating in a bear flag near 52-week low and looking to breakdown again)

IEF – October 108 Call OI rises from 14 to 3,885 (expect bonds to get another lift higher today as equity markets sold off globally after very weak Chinese PMI)

HPQ – October (2) Weekly 26.5-strike Put OI rises from 5,854 to 18,288 (heavy short term bearish action after rumors of HPQ looking to make major acquisition in 3-D printing space with SSYS seen as target)

CRM – Short 2,000 December 67.5 Put / Long 1,200 x 2,000 December 72.5/80 Call Ratio Spread added to OI (chart is setting up for technical breakout through downtrend resistance after 6 months of consolidation, CRM was made top pick at BofA for 2nd half of 2015)