Midday Unusual Options Activity Update: GNC, AMAT, CVC, USL, MNST, MMR, NIHD
Implied Volatility Mover
Implied volatility in GNC Holdings (GNC) is moving higher, as shares of the Pittsburg, PA health and wellness company have come under pressure Friday. It's not clear what is driving the action, as there are no obvious headlines on the stock. Share volume is 4.5 million and more than 4X the expected for midday. 2,300 calls and 490 puts traded on GNC, or 4X the daily average, and levels of implied volatility jumped 15 percent to 46.5.
Volume Signals
Applied Materials (AMAT) options volume is running 10X the (22-day) average, with 80,000 contracts traded and call volume accounting for 99 percent of the volume.
Cablevision Systems (CVC) options volume is 12.5X the average daily, with 22,000 contracts traded and call volume representing for 99 percent of the activity.
US 12-month Oil Fund (USL) options volume is running 42X the average daily, with 20,000 contracts traded and put volume accounting for 50 percent of the activity.
Increasing options activity is also being seen in Monster Beverage (MNST), McMoran (MMR), and NII Holdings (NIHD).
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