Midday Unusual Options Activity Update - VVUS, TGT, TIVO, YRCW, GILD, KGC
Implied Volatility Movers
Vivus Pharmaceuticals (VVUS) is trading down 66 cents to $6.39 after the FDA issued a notice of risk of birth defects for topiramate, which is one of two elements used to make Vivus' Qnexa weight loss drug. Shares were sent reeling on the news. Meanwhile, options volume includes 20,000 puts and 4,745 calls, or 7X the average daily. Implied jumped 21 percent to 74.5.
Unusual Volume
Target (TGT) options volume is running 5X the (22-day) average, with 115,000 contracts traded and call volume accounting for 61 percent of the volume.
TIVO options volume is 2X the average daily, with 43,000 contracts traded and call volume representing for 83 percent of the activity.
YRC Worldwide (YRCW) options volume is running 2.5X the average daily, with 36,000 contracts traded and put volume accounting for 90 percent of the activity.
Increasing options activity is also being seen in Vivus (VVUS), Gilead Sciences (GILD), and Kinross Gold (KGC).
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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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