Midday Unusual Options Activity Update: BIDU, LLY, NRG, YUM, MMM, VMW, FTNT

Implied Volatility Mover
Implied volatility in the options on Baidu.com (BIDU) is moving higher today amid increasing options activity. The stock is down $7.42 to $106.87 in active trading of 6.8 million shares after being whacked with an analyst downgrade before the open. On the options front, 47,000 calls and 44,000 puts traded on the Chinese Internet company. Weekly 105 puts, which expire 10/12, are the most actives on the ticker. 10,650 contracts changed hands. Meanwhile, implied volatility in BIDU options moved up 15 percent to 43 as the stock fell Tuesday morning.

Volume Signals
Eli Lilly (LLY) options volume is running 2.5X the (22-day) average, with 36,000 contracts traded and call volume accounting for 74 percent of the volume.

NRG options volume is 3X, the average daily, with 18,000 contracts traded and call volume representing for 95 percent of the activity.

Yum Brands (YUM) options volume is running 2X the average daily, with 15,000 contracts traded and put volume accounting for 55 percent of the activity.

Increasing options activity is also being seen in 3M (MMM), VM Ware (VMW), and Fortinet (FTNT).

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