Unusual Options Activity Update: FSIN, MPEL, IVN, WLP, AVP, URBN, ANN
Implied Volatility Mover
Implied volatility in the options on Fushi Copperworld (FSIN) is moving up sharply today, as shares fall 88 cents to $6.69 on heavy volume of 1.5 million shares. Typical share volume in the name through midday is less than 200,000. It's not clear what is driving the action, as there are no headlines on the Beijing-based electrical equipment (copper wires) company. But options on the stock are seeing heavy trading as well. 9,660 puts and 3,290 calls so far and levels of implied volatility jumped 44 percent to 150.
Volume Signals
Melco Crown Entertainment (MPEL) options volume is running 4X the (22-day) average, with 27,000 contracts traded and call volume accounting for 51 percent of the volume.
Ivanhoe Mines (IVN) options volume is 4X the average daily, with 20,000 contracts traded and put volume representing for 78 percent of the activity.
Wellpoint (WLP) options volume is running 2X the average daily, with 19,000 contracts traded and call volume accounting for 79 percent of the activity.
Increasing options activity is also being seen in Avon Products (AVP), Urban Outfitters (URBN), and Ann Taylor (ANN).
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