Unusual Options Activity Update: NFLX, CNX, LOW, MPO, SWY, KMX, VRTX

Implied Volatility Mover
Netflix (NFLX) is rallying today in active trading of 8.5 million shares after Morgan Stanley raised their rating on the online movie streaming company to Overweight from UnderWeight. The stock is up $6.78 to $73.33 and some players in the options market are tuning in to Netflix as well. 61,000 calls and 36,000 puts traded in the name, which is more than double the daily average. The three most actives are the Weekly 75, 72.5 and 80 calls that expire on 10/12. Meanwhile, implied volatility in NFLX options is rallying 17 percent to 70.5.

Volume Signals
Console Energy (CNX) options volume is running 55X the (22-day) average, with 262,000 contracts traded and put volume accounting for 96 percent of the volume.

Lowe's (LOW) options volume is 3X, the average daily, with 25,000 contracts traded and call volume representing for 93 percent of the activity.

Marathon Petroleum (MPO) options volume is running 6.5X the average daily, with 23,000 contracts traded and call volume accounting for 86 percent of the activity.

Increasing options activity is also being seen in Safeway (SWY), Carmax (KMX), and Vertex Pharmaceuticals (VRTX).

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