Midday Unusual Options Activity Update - APC, PAR, CIEN, GCI, COST, GT, APC
Implied Volatility Movers
Anadarko Pete (APC) implied volatility is moving higher after The Australian published a story saying BHP might have APC on its radar as a possible acquisition target. APC is up $1.66 to $50.45 on 3X the average daily options volume. 46,000 calls and 12,000 puts traded. Implied volatility is up 13 percent to 52.
Unusual Volume
3Par (PAR) options volume is running 5X the usual, with 22,000 contracts traded and call volume accounting for about 54 percent of the activity.
Ciena (CIEN) options activity is running 6X the usual, with 42,000 contracts traded and call volume representing 62 percent of the volume.
Gannett (GCI) options volume is running 14X the usual, with 33,000 traded and call volume representing 64 percent of the activity.
Unusual volume is also being seen in Costco (COST), Goodyear Tire (GT), and Anadarko Pete (APC).
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