Midday Unusual Options Activity Update - FMCN, HPQ, DELL, KGC, HUN, GIS, CIEN
Implied Volatility Movers
Focus Media (FMCN) implied volatility is easing, as shares try to stabilize after a five-day 13.1 percent slide. Shares are up 2 pennies to $32.11 and options volume is 2.5X the average daily. 15,000 puts and 3,400 calls traded on the Chinese digital media company. June 30 and 31 puts are the most actives and might be seeing some premium selling, as implied volatility has eased 8 percent to 49. The company announced today that it will announce earnings on May 24.
Unusual Volume
Hewlett Packard (HPQ) options volume is running 7X the (22-day) average, with 254,000 contracts traded and call volume accounting for about 54 percent of trades.
Dell Computer (DELL) options volume is 3X the average daily, with 121,000 contracts traded and put volume representing for 67 percent of the activity.
Kinross Gold (KGC) options volume is running 4X the average daily, with 62,000 contracts traded and call volume accounting for 80 percent of the activity.
Increasing options activity is also being seen in Huntsman (HUN), General Mills (GIS), and Ciena (CIEN).
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