Midday Unusual Options Activity Update: LULU, SLB, GME, FDX, LCC, LGF, WLP
Implied Volatility Mover
Implied volatility in the options on Lulumon Athletica (LULU) is down sharply Thursday. Shares are up 76 cents to $74.83 on heavy volume of more than 5 million shares after the company reported fourth profits that topped Street expectations. Meanwhile, 23,000 calls and 16,000 puts traded in LULU options today. Weekly 77.5 calls, 75 calls and 70 puts, which expire after tomorrow, are the most actives. Some players might be closing out positions and or selling short-term premium ahead of the expiration. Implied volatility in options on the stock is down 20 percent to 34 and new 52-week lows today.
Volume Signals
Schlumberger (SLB) options volume is running 2X the (22-day) average, with 47,000 contracts traded and call volume accounting for 70 percent of the volume.
Gamestop (GME) options volume is 4.5X the average daily, with 32,000 contracts traded and put volume representing for 56 percent of the activity.
FedEx (FDX) options volume is running 2X the average daily, with 32,000 contracts traded and call volume accounting for 64 percent of the activity.
Increasing options activity is also being seen in US Airways (LCC), Lions Gate (LGF), and Wellpoint (WLP).
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