Unusual Options Activity Update: ATPG, YUM, AKAm, AKS, NSM
Implied Volatility Mover
Implied volatility in ATP Oil and Gas (ATPG) is up sharply today after the company's CEO stepped down on failure to reach an agreement related his employment contract with the New York-based oil refiner. The stock is down 75 cents to $5.09 on heavy volume of 3.6 million shares. 17,000 puts and 4,590 calls traded on the stock. June 5 and December 4 puts are the most actives and implied volatility in ATPG options surged 60 percent to 140.
Volume Signals
Yum Brands (YUM) options volume is running 4.5X the (22-day) average, with 26,000 contracts traded and call volume accounting for 61 percent of the volume.
ATP Oil and Gas (ATPG) options volume is 4X the average daily, with 19,000 contracts traded and put volume representing for 81 percent of the activity.
Akamai Tech (AKAM) options volume is running 2.5X the average daily, with 14,000 contracts traded and call volume accounting for 95 percent of the activity.
Increasing options activity is also being seen in AK Steel (AKS), HMA, and National Semiconductor (NSM).
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About Joseph Cusick
Joseph Cusick currently serves as the Senior Vice President of Education and a Senior Market Analyst for optionsXpress. Mr. Cusick seeks out common sense and technologically scalable educational pathways for self-directed investors of all experience levels. He is largely responsible for ramping up delivery of online and offline seminars to customers and potential clients worldwide. Prior to serving in his current role, Mr. Cusick immersed himself in the broker side of optionsXpress by managing his own book of business. Prior to joining optionsXpress, Mr. Cusick served as a market maker and portfolio manager at the Chicago Board of Options Exchange. Joseph is a graduate of Marquette University and holds his Series 4, 7 and 63 registrations with FINRA.
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