Midday Unusual Options Activity Update - AMGN, BBY, WMB, AIG, WHR, MNKD
Implied Volatility Movers
Amgen (AMGN) implied volatility is falling after the company reported positive results from a clinical trial of a prostate cancer drug. Shares hit a morning high of $57.22 and were recently up $2.43 to $56.54. Options volume jumped to 4X the average daily. 70,000 calls and 30,000 puts traded in the biotech. Implied volatility has plummeted 29 percent to about 25 percent.
Unusual Volume
Best Buy (BBY) options volume is running 9X the usual, with 170,000 contracts traded and call volume accounting for 56 percent of the activity, according to data from website WhatsTrading.com.
William's Companies (WMB) options activity is running 4X the usual, with 106,000 contracts traded and call volume representing 99 percent of the volume.
Amgen (AMGN) options volume is 3.5X the typical levels, with 89,000 contracts traded and call volume accounting for 69 percent of the activity.
Increasing volume is also being seen in AIG, Whirlpool (WHR), and MannKind (MNKD).
About Joseph Cusick
Joseph Cusick currently serves as the Senior Vice President of Education and a Senior Market Analyst for optionsXpress. Mr. Cusick seeks out common sense and technologically scalable educational pathways for self-directed investors of all experience levels. He is largely responsible for ramping up delivery of online and offline seminars to customers and potential clients worldwide. Prior to serving in his current role, Mr. Cusick immersed himself in the broker side of optionsXpress by managing his own book of business. Prior to joining optionsXpress, Mr. Cusick served as a market maker and portfolio manager at the Chicago Board of Options Exchange. Joseph is a graduate of Marquette University and holds his Series 4, 7 and 63 registrations with FINRA.
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