Options Update: Thornburg Mortgage (TMA), VeriFone Holdings (PAY), Centex (CTX) & Borders (BGP)

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Thornburg Mortgage (TMA)
TMA Option Volume And Prices Jump As Shares Sell Off 54% On Margin Calls

TMA, a single-family residential mortgage lender, announced it has notbeen able to meet margin calls worth at least $270 million.

TMA isrecently down $4.89 to $4.01.

TMA call option volume of 21,688contracts compares to put volume of 36,918 contracts.

TMA Marchstraddle is priced at $2.45. 

TMA April straddle is priced at $3.35, suggesting large price movement. 


VeriFone Holdings (PAY)
PAY Put Volume Heavy At Elevated Volatility of 76

PAY is recently down $1.10 to $19.55.

PAY's technology enables electronic payment transactions and value-added services at the point of sale.

PAY call option volume of 454 contracts compares to put volume of 3,471 contracts.

PAY March option implied volatility of 76 is above its 26-week average of 55, suggesting hedging for downside price risk.




Centex (CTX)
CTX Puts Active At Elevated Volatility Of 83

CTX is recently down $1.09 to $21.02.

CTX is a Dallas based home-builder.

CTX call option volume of 4,152 contracts compares to put volume of 12,875 contracts. 

CTX March option implied volatility of 83 is above its 26-week average of 67, suggesting hedging for downside price risk.


Borders (BGP)
BGP Puts Active At Elevated Prices Into EPS; Shares Near 12-Year Low

BGP is recently down $.29 to $8.97.

BGP is expected to report Q4 EPS on March 20.

Alex Brown has a Hold rating on BGP.

BGP call option volume of 407 contracts compares to put volume of 5,297 contracts.

BGP March 10 straddle is priced at $1.90.

BGP April option implied volatility of 77 is above its 26-week average of 59, suggesting hedging for downside price risk.


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