Midday Unusual Options Activity Update: NTAP, XHB, KBE, MT, SWY, DNDN, JBL

Implied Volatility Mover
NetApp (NTAP) is under pressure and implied volatility in the options on the storage device-maker is moving higher amid increasing put activity Wednesday. The stock is down $1.34 to $33.08 in active trading of 5 million shares after peer Jabil Circuits fell on earnings news. 5,340 puts and 2,750 calls traded on NTAP. October 32, 33, and 34 puts are the most actives in NetApp today and 30-day implied volatility is up 18 percent to 37.5.

Volume Signals
SPDR Homebuilders Trust (XHB) options volume is running 2X the (22-day) average, with 39,000 contracts traded and put volume accounting for 78 percent of the volume.

SPDR Banking ETF (KBE) options volume is 195X, the average daily, with 36,000 contracts traded and put volume representing for 50 percent of the activity.

Mittal Steel (MT) options volume is running 3X the average daily, with 28,000 contracts traded and call volume accounting for 97 percent of the activity.

Increasing options activity is also being seen in Safeway (SWY), Dendreon (DNDN), and Jabil Circuit (JBL).

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