Midday Unusual Options Activity Update - GERN, ZION, GM, PNC, BAC, C, DDUP, NTAP, TSRA, BAX, USU, GME, CTXS
Implied Volatility Movers
Geron (GERN) shares are rallying and implied volatility is higher Thursday. Shares gained 64 cents to $7.40 and options volume rose to 3X normal levels. 8,000 calls and 400 puts traded. Implied volatility jumped to 101, from about 88 the day before.
Implied volatility is also higher in Zion Banc (ZION), GM, and PNC. Meanwhile, implied volatility is lower in BofA (BAC), Citi (C), and Data Domain (DDUP).
Unusual Volume Movers
NetApp (NTAP) options volume is running 3X the usual. 60,000 contracts traded and call volume accounting for 61 percent of today's volume.
Options activity in Tessara (TSRA) rose to 4X the usual, with 31,000 traded and call volume representing 59 percent of the activity.
Baxter (BAX) options activity is running 5X the usual. 27,000 contracts traded and call volume accounting for 66 percent of the volume.
Increasing volume was also seen in Usec (USU), Gamestop (GME), and Citrix Systems (CTXS).
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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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