Midday Unusual Options Activity Update: ILMN, GOOG, VALE, SWY, CSTR, HBAN
Implied Volatility Mover
Implied volatility in Illumina (ILMN) options is moving higher amid high options volume in the name Friday. Shares of the biotech are down $2.69 to $46.83 and have lost 10.9 percent during the past two days on reports out Thursday that Roche doesnít see a reason to raise its offer for the Illumina. Share volume is a brisk 6 million. Meanwhile, 66,000 calls and 23,000 puts have traded on the stock. Heavy trading has lifted levels of implied volatility in ILMN up 15 percent to 77 and the highest levels so far in 2012.
Google (GOOG) options volume is running 3X the (22-day) average, with 257,000 contracts traded and call volume accounting for 57 percent of the volume.
Illumina (ILMN) options volume is 3X the average daily, with 86,000 contracts traded and call volume representing for 74 percent of the activity.
VALE options volume is running 2X the average daily, with 64,000 contracts traded and call volume accounting for 94 percent of the activity.
Increasing options activity is also being seen in Safeway (SWY), Coinstar (CSTR), and Huntington Bancshares (HBAN).
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