Midday Unusual Options Activity Update - BRCX, NVAX, BAC, GM, BIDU, PCAR, AG, PEP, ERTS, HSY, HUM, SWN, CMCSA.
Implied Volatility Movers
Biocryst Pharmaceuticals (BRCX) implied volatility is elevated as the stock continues to rally as a "swine flu" play. Shares are up 18 cents to $4.06 today and up 132 percent since Thursday. Implied volatility has reached an extreme 275 percent, up from 146 less than one week ago.
Implied volatility is also high in Novavax (NVAX), BofA (BAC), and General Motors (GM). Meanwhile, implied volatility is easing in Baidu (BIDU), Paccar (PCAR), and Agco (AG).
Unusual Volume Movers
Pepsico (PEP) options volume is running 4X the usual. 40,000 contracts traded and put volume accounts for 95 percent of the activity.
Electronic Arts (ERTS) options activity rose to 3X the usual. 34,000 contracts traded and call volume representing 89 percent of the activity.
Hershey's (HSY) options activity is running 14X the usual. 21,000 contracts traded and call volume accounting for 95 percent of the day's activity.
Increasing volume was also seen in Humana (HUM), Southwest Energy (SWN), and Comcast (CMCSA).
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About Frederic Ruffy
Frederic Ruffy is a Freelance Writer and Options Trading Strategist. In addition to writing market commentary and trading-related books and articles, Fred has also worked as an instructor, educating investors on advanced topics like measuring volatility, the benefits of sector rotation and the risks and potential profits from trading around earnings. His market observations are mentioned frequently in the financial press and he currently trades stocks, futures, and options in Salt Lake City, Utah.
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