Watch These 8 Huge Call Purchases In Wednesday Trade

Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Tuesday's regular session.

• J C Penney Company Inc (NYSE:JCP) May 8.0 Calls Sweep: 2000 @ ASK $0.04: 3680 traded vs 43k OI: Earnings 5/12 Before Open (est) $5.63 Ref
• Micron Technology, Inc. (NASDAQ:MU) Jul 21.0 Calls Sweep: 9352 @ ASK $5.85: 9363 traded vs 2372 OI: Earnings 3/23 After Close $25.87 Ref
• Fred's, Inc. (NASDAQ:FRED) Apr 20.0 Calls: 1525 @ ASK $0.20: 6632 traded vs 14k OI: Earnings 4/6 Before Open $13.96 Ref
• Urban Outfitters, Inc. (NASDAQ:URBN) Apr 7th 22.5 Calls: 683 @ ASK $0.70: 1242 traded vs 0 OI: Earnings 5/16 After Close $22.40 Ref
• Snap Inc (NYSE:SNAP) Mar 31st 20.0 Calls Sweep: 2440 @ ASK $0.60: 3515 traded vs 1406 OI: Earnings 5/4 Unspecified (est) $19.59 Ref
• Red Hat Inc (NYSE:RHT) Apr 90.0 Calls Sweep: 2049 @ ASK $0.999: 2049 traded vs 5331 OI: Earnings 3/27 After Close $83.05 Ref
• Amarin Corporation plc (ADR) (NASDAQ:AMRN) Mar 24th 3.5 Calls: 500 @ ASK $0.01: 1000 traded vs 0 OI: Earnings 5/4 Before Open (est) $3.34 Ref
• Texas Instruments Incorporated (NASDAQ:TXN) Apr 82.0 Calls Sweep: 886 @ ASK $0.78: 887 traded vs 64 OI: Earnings 4/26 After Close (est) $80.55 Ref