Midday Unusual Options Activity Update: NOK, JNJ, XRT, WMB, KEY, IGT
Implied Volatility Mover
Nokia (NOK) shares are down and implied volatility in the options on phone-maker is up after the company lowered its operating margin guidance, citing increasing competitive pressures. Nokia also announced 10,000 job cuts. The stock is down 45 cents to $2.34 in very heavy trading of 86 million shares. Options volume is more than double the daily average. 29,000 calls and 32,000 puts so far. 30-day at-the-money implied volatility is moving up 13.5 percent to 96.
Volume Signals
Johnson & Johnson (JNJ) options volume is running 5X the (22-day) average, with 130,000 contracts traded and put volume accounting for 52 percent of the volume.
SPDR Retail Trust (XRT) options volume is 2.5X the average daily, with 98,000 contracts traded and put volume representing for 96 percent of the activity.
Williams Companies(WMB) options volume is running 5X the average daily, with 64,000 contracts traded and put volume accounting for 99 percent of the activity.
Increasing options activity is also being seen in Key Banc (KEY), Nokia (NOK), and International Game Technology (IGT).
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